Daiwa Securities Group Inc. lifted its position in J M Smucker Co (NYSE:SJM) by 19.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,143 shares of the company’s stock after purchasing an additional 847 shares during the period. Daiwa Securities Group Inc.’s holdings in J M Smucker were worth $566,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SJM. Bartlett & Co. LLC raised its stake in shares of J M Smucker by 3.6% during the third quarter. Bartlett & Co. LLC now owns 73,127 shares of the company’s stock worth $8,045,000 after acquiring an additional 2,557 shares in the last quarter. Kanawha Capital Management LLC raised its stake in shares of J M Smucker by 4.7% during the third quarter. Kanawha Capital Management LLC now owns 2,636 shares of the company’s stock worth $290,000 after acquiring an additional 118 shares in the last quarter. Alpine Woods Capital Investors LLC purchased a new position in shares of J M Smucker during the third quarter worth approximately $211,000. Beese Fulmer Investment Management Inc. raised its stake in shares of J M Smucker by 420.8% during the third quarter. Beese Fulmer Investment Management Inc. now owns 27,270 shares of the company’s stock worth $3,000,000 after acquiring an additional 22,034 shares in the last quarter. Finally, Congress Asset Management Co. MA raised its stake in shares of J M Smucker by 3.4% during the third quarter. Congress Asset Management Co. MA now owns 48,138 shares of the company’s stock worth $5,296,000 after acquiring an additional 1,571 shares in the last quarter. 77.56% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on SJM shares. Stifel Nicolaus decreased their price target on shares of J M Smucker from $120.00 to $110.00 and set a “hold” rating on the stock in a research note on Wednesday, August 28th. Citigroup decreased their price target on shares of J M Smucker from $142.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Credit Suisse Group cut shares of J M Smucker from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $100.00 to $95.00 in a report on Wednesday. Guggenheim cut their target price on shares of J M Smucker from $99.00 to $93.00 and set a “sell” rating on the stock in a report on Wednesday, August 28th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $107.00 target price (down previously from $114.00) on shares of J M Smucker in a report on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $114.80.

In related news, SVP Geoff E. Tanner purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average price of $103.42 per share, for a total transaction of $103,420.00. Following the completion of the acquisition, the senior vice president now directly owns 14,063 shares in the company, valued at approximately $1,454,395.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin G. Jackson sold 487 shares of J M Smucker stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $108.70, for a total transaction of $52,936.90. The disclosure for this sale can be found here. Insiders sold 1,987 shares of company stock worth $220,599 in the last 90 days. Company insiders own 3.70% of the company’s stock.

Shares of J M Smucker stock opened at $105.78 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.26 and a current ratio of 0.70. J M Smucker Co has a 52-week low of $91.32 and a 52-week high of $128.43. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 3.37 and a beta of 0.41. The company’s 50 day moving average price is $107.32 and its 200-day moving average price is $114.52.

J M Smucker (NYSE:SJM) last issued its earnings results on Tuesday, August 27th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.17). J M Smucker had a return on equity of 11.49% and a net margin of 6.95%. The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the business posted $1.78 EPS. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, equities research analysts forecast that J M Smucker Co will post 8.36 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Thursday, November 14th. J M Smucker’s dividend payout ratio is 42.46%.

About J M Smucker

The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.

Recommended Story: How to invest in a bear market

Want to see what other hedge funds are holding SJM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for J M Smucker Co (NYSE:SJM).

Institutional Ownership by Quarter for J M Smucker (NYSE:SJM)

Receive News & Ratings for J M Smucker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J M Smucker and related companies with MarketBeat.com's FREE daily email newsletter.