Harbour Investments Inc. Increases Holdings in The J. M. Smucker Company (NYSE:SJM)

Harbour Investments Inc. grew its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 175.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,883 shares of the company’s stock after purchasing an additional 5,659 shares during the quarter. Harbour Investments Inc.’s holdings in J. M. Smucker were worth $1,076,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Studio Investment Management LLC purchased a new stake in shares of J. M. Smucker during the 2nd quarter valued at $26,000. Venturi Wealth Management LLC grew its stake in shares of J. M. Smucker by 1,329.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock worth $29,000 after acquiring an additional 226 shares during the period. Quarry LP grew its stake in shares of J. M. Smucker by 212.6% during the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after acquiring an additional 219 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of J. M. Smucker during the 3rd quarter worth $39,000. Finally, Eastern Bank bought a new position in shares of J. M. Smucker during the 3rd quarter worth $40,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on SJM shares. Barclays cut their price target on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. Stifel Nicolaus downgraded J. M. Smucker from a “buy” rating to a “hold” rating and cut their price target for the stock from $135.00 to $125.00 in a research note on Friday, October 25th. BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Citigroup cut their target price on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $127.09.

J. M. Smucker Trading Down 0.3 %

Shares of J. M. Smucker stock opened at $110.74 on Friday. The company has a 50 day simple moving average of $117.52 and a two-hundred day simple moving average of $115.61. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The firm has a market cap of $11.78 billion, a PE ratio of 15.66, a PEG ratio of 3.20 and a beta of 0.25. The J. M. Smucker Company has a 1 year low of $105.69 and a 1 year high of $134.62.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the business earned $2.21 earnings per share. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. Analysts expect that The J. M. Smucker Company will post 9.8 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.90%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s dividend payout ratio is currently 61.10%.

J. M. Smucker Profile

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.