The J. M. Smucker Company (NYSE:SJM) Position Lifted by Hengehold Capital Management LLC

Hengehold Capital Management LLC raised its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 27.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,935 shares of the company’s stock after acquiring an additional 624 shares during the quarter. Hengehold Capital Management LLC’s holdings in J. M. Smucker were worth $355,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SJM. Vanguard Group Inc. increased its holdings in J. M. Smucker by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock valued at $1,702,515,000 after buying an additional 518,433 shares during the last quarter. AMF Tjanstepension AB bought a new stake in shares of J. M. Smucker in the 1st quarter valued at approximately $23,990,000. Goldman Sachs Group Inc. raised its position in shares of J. M. Smucker by 23.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 419,134 shares of the company’s stock valued at $52,970,000 after acquiring an additional 78,807 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in J. M. Smucker by 6,703.1% during the second quarter. Assenagon Asset Management S.A. now owns 159,873 shares of the company’s stock worth $17,433,000 after purchasing an additional 157,523 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in J. M. Smucker by 62.0% in the first quarter. Cetera Investment Advisers now owns 24,174 shares of the company’s stock worth $3,043,000 after purchasing an additional 9,250 shares during the period. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

SJM has been the topic of a number of research reports. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. Barclays cut their target price on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. DA Davidson reaffirmed a “neutral” rating and set a $121.00 target price on shares of J. M. Smucker in a report on Thursday, August 29th. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Finally, Citigroup lowered their price objective 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 analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $127.25.

J. M. Smucker Stock Performance

Shares of SJM opened at $121.61 on Thursday. The J. M. Smucker Company has a 52-week low of $105.69 and a 52-week high of $134.62. The firm has a market capitalization of $12.94 billion, a PE ratio of 17.21, a P/E/G ratio of 3.13 and a beta of 0.24. The firm has a 50-day moving average price of $118.97 and a 200 day moving average price of $115.62. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.17 by $0.27. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.21 earnings per share. On average, sell-side analysts anticipate that The J. M. Smucker Company will post 9.82 earnings per share for the current fiscal year.

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.