DoubleLine ETF Adviser LP Purchases New Stake in The J. M. Smucker Company $SJM

DoubleLine ETF Adviser LP acquired a new position in shares of The J. M. Smucker Company (NYSE:SJM) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,903 shares of the company’s stock, valued at approximately $641,000.

Several other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC increased its stake in J. M. Smucker by 150.0% in the third quarter. Ashton Thomas Private Wealth LLC now owns 57,999 shares of the company’s stock valued at $6,299,000 after acquiring an additional 34,800 shares during the last quarter. ProShare Advisors LLC lifted its stake in J. M. Smucker by 13.8% during the third quarter. ProShare Advisors LLC now owns 1,562,259 shares of the company’s stock worth $169,661,000 after purchasing an additional 188,868 shares during the last quarter. Ethic Inc. boosted its holdings in shares of J. M. Smucker by 28.8% in the 3rd quarter. Ethic Inc. now owns 54,860 shares of the company’s stock valued at $5,958,000 after purchasing an additional 12,279 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of J. M. Smucker in the 3rd quarter valued at $4,476,000. Finally, Thompson Investment Management Inc. bought a new position in shares of J. M. Smucker in the 3rd quarter valued at $5,464,000. 81.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SJM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on J. M. Smucker from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. TD Cowen increased their target price on shares of J. M. Smucker from $105.00 to $112.00 and gave the stock a “hold” rating in a report on Friday, February 20th. Morgan Stanley restated an “equal weight” rating and issued a $105.00 price target (down from $115.00) on shares of J. M. Smucker in a research note on Friday, January 16th. Wells Fargo & Company lifted their price target on shares of J. M. Smucker from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Finally, Sanford C. Bernstein raised shares of J. M. Smucker from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $121.00 to $145.00 in a research note on Wednesday, March 11th. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $121.14.

J. M. Smucker Price Performance

J. M. Smucker stock opened at $106.17 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.35 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $11.32 billion, a PE ratio of -9.01, a P/E/G ratio of 4.42 and a beta of 0.22. The J. M. Smucker Company has a 12 month low of $93.30 and a 12 month high of $120.76. The stock has a 50-day moving average price of $106.44 and a two-hundred day moving average price of $105.26.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Thursday, February 26th. The company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.11. J. M. Smucker had a positive return on equity of 15.94% and a negative net margin of 14.07%.The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the previous year, the business posted $2.61 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts expect that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Friday, February 13th. J. M. Smucker’s payout ratio is presently -37.32%.

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.