Kingsview Wealth Management LLC bought a new position in The J. M. Smucker Company (NYSE:SJM – Free Report) 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 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.
View Our Latest Research Report on SJM
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.
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