JPMorgan Chase & Co. Grows Position in The J. M. Smucker Company $SJM

JPMorgan Chase & Co. boosted its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 14.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Wesbanco Bank Inc. lifted its stake in J. M. Smucker by 2.9% in the 3rd quarter. Wesbanco Bank Inc. now owns 3,615 shares of the company’s stock worth $393,000 after purchasing an additional 102 shares in the last quarter. Wedbush Securities Inc. grew its position in shares of J. M. Smucker by 1.2% during the third quarter. Wedbush Securities Inc. now owns 8,861 shares of the company’s stock valued at $962,000 after purchasing an additional 106 shares in the last quarter. Hantz Financial Services Inc. grew its position in shares of J. M. Smucker by 5.1% during the third quarter. Hantz Financial Services Inc. now owns 2,437 shares of the company’s stock valued at $265,000 after purchasing an additional 118 shares in the last quarter. Glenmede Investment Management LP increased its holdings in shares of J. M. Smucker by 1.5% in the third quarter. Glenmede Investment Management LP now owns 8,393 shares of the company’s stock worth $911,000 after purchasing an additional 120 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of J. M. Smucker by 9.7% in the third quarter. Smartleaf Asset Management LLC now owns 1,482 shares of the company’s stock worth $159,000 after buying an additional 131 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Stock Performance

NYSE SJM opened at $102.58 on Wednesday. The business’s 50 day moving average price is $106.78 and its 200-day moving average price is $105.19. The J. M. Smucker Company has a fifty-two week low of $93.30 and a fifty-two week high of $120.76. The company has a market cap of $10.94 billion, a P/E ratio of -8.70, a P/E/G ratio of 4.37 and a beta of 0.22. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.35 and a current ratio of 0.84.

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

J. M. Smucker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were paid a $1.10 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $4.40 annualized dividend and a yield of 4.3%. J. M. Smucker’s dividend payout ratio (DPR) is presently -37.32%.

Analyst Ratings Changes

SJM has been the topic of a number of research reports. Barclays lifted their price objective on J. M. Smucker from $105.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Sanford C. Bernstein upgraded shares of J. M. Smucker from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $121.00 to $145.00 in a research report on Wednesday, March 11th. Canaccord Genuity Group upgraded shares of J. M. Smucker to a “buy” rating in a research report on Friday, January 16th. Wall Street Zen downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Finally, TD Cowen upped 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, February 20th. Nine investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, J. M. Smucker has an average rating of “Hold” and an average target price of $121.14.

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.