JPMorgan Chase & Co. Boosts Stock Position in The J. M. Smucker Company $SJM

JPMorgan Chase & Co. raised its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 14.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 865,132 shares of the company’s stock after purchasing an additional 106,677 shares during the period. JPMorgan Chase & Co. owned 0.81% of J. M. Smucker worth $93,958,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC raised its holdings in J. M. Smucker by 150.0% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 57,999 shares of the company’s stock worth $6,299,000 after purchasing an additional 34,800 shares in the last quarter. ProShare Advisors LLC increased its position in shares of J. M. Smucker by 13.8% during the third quarter. ProShare Advisors LLC now owns 1,562,259 shares of the company’s stock valued at $169,661,000 after buying an additional 188,868 shares during the period. Ethic Inc. raised its stake in J. M. Smucker by 28.8% in the third quarter. Ethic Inc. now owns 54,860 shares of the company’s stock worth $5,958,000 after buying an additional 12,279 shares in the last quarter. Thompson Investment Management Inc. purchased a new stake in J. M. Smucker in the third quarter worth about $5,464,000. Finally, Rakuten Investment Management Inc. bought a new stake in J. M. Smucker during the 3rd quarter valued at approximately $12,278,000. 81.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Sanford C. Bernstein increased their target price on J. M. Smucker from $110.00 to $113.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 26th. Bank of America upgraded J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Monday. Stifel Nicolaus dropped their target price on shares of J. M. Smucker from $115.00 to $110.00 and set a “hold” rating on the stock in a report on Wednesday, November 26th. UBS Group decreased their price target on shares of J. M. Smucker from $120.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $105.00 price target (down from $115.00) on shares of J. M. Smucker in a research report on Friday, January 16th. Eight research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, J. M. Smucker currently has a consensus rating of “Hold” and an average price target of $116.36.

J. M. Smucker Stock Up 0.5%

NYSE:SJM opened at $110.89 on Tuesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.37 and a current ratio of 0.89. The firm has a market cap of $11.83 billion, a P/E ratio of -9.88, a P/E/G ratio of 6.74 and a beta of 0.23. The J. M. Smucker Company has a fifty-two week low of $93.30 and a fifty-two week high of $121.48. The firm has a 50-day simple moving average of $103.13 and a two-hundred day simple moving average of $105.32.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Tuesday, November 25th. The company reported $2.10 EPS for the quarter, missing analysts’ consensus estimates of $2.12 by ($0.02). The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.32 billion. J. M. Smucker had a negative net margin of 13.61% and a positive return on equity of 15.26%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.76 EPS. Analysts predict that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be given a $1.10 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $4.40 annualized dividend and a yield of 4.0%. J. M. Smucker’s dividend payout ratio is -39.22%.

About J. M. Smucker

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company’s main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker’s core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker’s® fruit spreads, Jif® peanut butter, Folgers® and Dunkin’® coffees, and Café Bustelo® coffee.