Edgestream Partners L.P. Reduces Holdings in The J. M. Smucker Company (NYSE:SJM)

Edgestream Partners L.P. lowered its holdings in The J. M. Smucker Company (NYSE:SJM) by 55.9% during the third quarter, HoldingsChannel.com reports. The fund owned 12,381 shares of the company’s stock after selling 15,663 shares during the period. Edgestream Partners L.P.’s holdings in J. M. Smucker were worth $1,499,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Probity Advisors Inc. boosted its position in J. M. Smucker by 1.1% during the 3rd quarter. Probity Advisors Inc. now owns 8,791 shares of the company’s stock valued at $1,065,000 after purchasing an additional 96 shares during the period. Anchor Investment Management LLC boosted its holdings in shares of J. M. Smucker by 0.5% during the second quarter. Anchor Investment Management LLC now owns 19,791 shares of the company’s stock valued at $2,158,000 after acquiring an additional 99 shares during the period. State of Michigan Retirement System boosted its holdings in shares of J. M. Smucker by 0.3% during the second quarter. State of Michigan Retirement System now owns 33,561 shares of the company’s stock valued at $3,659,000 after acquiring an additional 100 shares during the period. Romano Brothers AND Company increased its holdings in shares of J. M. Smucker by 3.5% in the 3rd quarter. Romano Brothers AND Company now owns 2,987 shares of the company’s stock worth $362,000 after acquiring an additional 100 shares during the period. Finally, Blue Trust Inc. lifted its position in J. M. Smucker by 11.0% in the 3rd quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock valued at $125,000 after purchasing an additional 102 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup decreased their target price on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. TD Cowen lowered their target price on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. Barclays increased their price target on J. M. Smucker from $121.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Friday, November 29th. Finally, Stifel Nicolaus cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and cut their price objective for the company from $135.00 to $125.00 in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, J. M. Smucker presently has an average rating of “Hold” and a consensus target price of $128.00.

J. M. Smucker Stock Down 1.9 %

SJM stock opened at $117.31 on Wednesday. The firm has a market cap of $12.48 billion, a PE ratio of 23.75, a P/E/G ratio of 3.37 and a beta of 0.26. The J. M. Smucker Company has a 12 month low of $105.69 and a 12 month high of $134.62. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27. The firm has a 50 day simple moving average of $116.35 and a 200 day simple moving average of $115.67.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.27 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.59 EPS. Equities research analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were issued a dividend of $1.08 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 3.68%. J. M. Smucker’s payout ratio is presently 87.45%.

About J. M. Smucker

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in three segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, toppings, and syrups; jelly products; nut mix products; shortening and oils; frozen sandwiches and snacks; pet food and pet snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, juices and beverages, and baking mixes and ingredients.