Kingsview Wealth Management LLC Makes New $8.87 Million Investment in The J. M. Smucker Company (NYSE:SJM)

Kingsview Wealth Management LLC bought a new position in The J. M. Smucker Company (NYSE:SJM) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 73,215 shares of the company’s stock, valued at approximately $8,866,000.

Several other hedge funds also recently bought and sold shares of the company. Studio Investment Management LLC acquired a new position in shares of J. M. Smucker during the 2nd quarter valued at about $26,000. Venturi Wealth Management LLC boosted its stake in J. M. Smucker by 1,329.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after purchasing an additional 226 shares during the period. Quarry LP boosted its stake in J. M. Smucker by 212.6% during the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after purchasing an additional 219 shares during the period. Catalyst Capital Advisors LLC bought a new stake in J. M. Smucker during the 3rd quarter valued at approximately $39,000. Finally, Eastern Bank bought a new stake in J. M. Smucker during the 3rd quarter valued at approximately $40,000. 81.66% of the stock is owned by institutional investors and hedge funds.

J. M. Smucker Stock Down 0.5 %

NYSE SJM opened at $113.30 on Friday. The stock has a fifty day moving average of $116.57 and a 200-day moving average of $115.52. The stock has a market capitalization of $12.06 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 3.19 and a beta of 0.25. The J. M. Smucker Company has a 52 week low of $105.69 and a 52 week high of $134.62. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55.

J. M. Smucker (NYSE:SJM) last released its earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.17 by $0.27. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm earned $2.21 EPS. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities research analysts forecast that The J. M. Smucker Company will post 9.79 EPS for the current year.

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a $1.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $4.32 annualized dividend and a dividend yield of 3.81%. J. M. Smucker’s dividend payout ratio is currently 61.10%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. DA Davidson restated a “neutral” rating and set a $121.00 target price on shares of J. M. Smucker 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 report on Monday, September 30th. TD Cowen reduced their price objective on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Citigroup reduced their price objective on 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. Finally, BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. One 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $127.09.

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.