D.A. Davidson & CO. Raises Stake in The J. M. Smucker Company (NYSE:SJM)

D.A. Davidson & CO. raised its position in The J. M. Smucker Company (NYSE:SJM) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,404 shares of the company’s stock after acquiring an additional 936 shares during the quarter. D.A. Davidson & CO.’s holdings in J. M. Smucker were worth $4,288,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in J. M. Smucker by 40.0% in the third quarter. FMR LLC now owns 3,353,996 shares of the company’s stock worth $406,169,000 after acquiring an additional 958,142 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in J. M. Smucker by 21.8% during the third quarter. The Manufacturers Life Insurance Company now owns 84,462 shares of the company’s stock worth $10,228,000 after purchasing an additional 15,092 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in J. M. Smucker by 12.4% during the third quarter. Daiwa Securities Group Inc. now owns 13,034 shares of the company’s stock worth $1,578,000 after purchasing an additional 1,440 shares in the last quarter. Swedbank AB raised its holdings in J. M. Smucker by 2.2% during the third quarter. Swedbank AB now owns 130,460 shares of the company’s stock worth $15,799,000 after purchasing an additional 2,842 shares in the last quarter. Finally, Kingsview Wealth Management LLC acquired a new stake in J. M. Smucker during the third quarter worth approximately $8,866,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Price Performance

Shares of NYSE SJM opened at $118.00 on Friday. The firm has a market capitalization of $12.56 billion, a P/E ratio of 23.89, a PEG ratio of 3.37 and a beta of 0.25. The J. M. Smucker Company has a one year low of $105.69 and a one year high of $134.62. The company’s fifty day moving average is $116.38 and its two-hundred day moving average is $115.60. 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 issued its earnings results on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.49 by $0.27. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.33%. The business’s revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.59 EPS. Analysts forecast that The J. M. Smucker Company will post 9.79 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a $1.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 annualized dividend and a dividend yield of 3.66%. J. M. Smucker’s dividend payout ratio is presently 87.45%.

Analyst Upgrades and Downgrades

SJM has been the topic of a number of research analyst reports. Stifel Nicolaus cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and cut their price objective for the stock from $135.00 to $125.00 in a report on Friday, October 25th. Barclays cut their price objective on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and issued a $121.00 target price on shares of J. M. Smucker in a report on Thursday, August 29th. Finally, TD Cowen cut their target price on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, J. M. Smucker currently has an average rating of “Hold” and a consensus target price of $127.55.

J. M. Smucker Company 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.