JPMorgan Chase & Co. Raises Stock Holdings in The J. M. Smucker Company $SJM

JPMorgan Chase & Co. raised its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 14.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 865,132 shares of the company’s stock after acquiring an additional 106,677 shares during the period. JPMorgan Chase & Co.’s holdings in J. M. Smucker were worth $93,958,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. AlphaQuest LLC purchased a new stake in J. M. Smucker in the second quarter worth approximately $26,000. Bank of Jackson Hole Trust lifted its holdings in shares of J. M. Smucker by 104.5% during the 2nd quarter. Bank of Jackson Hole Trust now owns 274 shares of the company’s stock valued at $27,000 after buying an additional 140 shares during the period. CYBER HORNET ETFs LLC purchased a new position in shares of J. M. Smucker in the 2nd quarter worth $27,000. Elevation Point Wealth Partners LLC purchased a new position in shares of J. M. Smucker in the 2nd quarter worth $28,000. Finally, Root Financial Partners LLC bought a new stake in shares of J. M. Smucker in the third quarter worth $29,000. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Stock Performance

SJM opened at $110.89 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.89 and a quick ratio of 0.37. The J. M. Smucker Company has a 1-year low of $93.30 and a 1-year high of $121.48. The company has a 50 day simple moving average of $103.13 and a two-hundred day simple moving average of $105.32. The firm has a market cap of $11.83 billion, a P/E ratio of -9.88, a PEG ratio of 6.74 and a beta of 0.23.

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

J. M. Smucker Announces Dividend

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

Wall Street Analysts Forecast Growth

SJM has been the topic of a number of recent research reports. Canaccord Genuity Group raised J. M. Smucker to a “buy” rating in a report on Friday, January 16th. Bank of America raised shares of J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 price target for the company in a research report on Monday. JPMorgan Chase & Co. raised their price objective on shares of J. M. Smucker from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Monday. TD Cowen boosted their target price on shares of J. M. Smucker from $105.00 to $112.00 and gave the company a “hold” rating in a research report on Friday. Finally, Sanford C. Bernstein increased their price target on shares of 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. Eight analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, J. M. Smucker currently has a consensus rating of “Hold” and an average target price of $116.36.

J. M. Smucker Profile

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.