Principal Street Partners LLC Has $4.91 Million Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Principal Street Partners LLC trimmed its position in shares of The J. M. Smucker Company (NYSE:SJM) by 22.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,536 shares of the company’s stock after selling 11,724 shares during the period. Principal Street Partners LLC’s holdings in J. M. Smucker were worth $4,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Studio Investment Management LLC purchased a new stake in shares of J. M. Smucker during the 2nd quarter worth about $26,000. Venturi Wealth Management LLC raised its position in J. M. Smucker by 1,329.4% during the third quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after acquiring an additional 226 shares in the last quarter. Quarry LP lifted its stake in J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after acquiring an additional 219 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in J. M. Smucker in the third quarter worth approximately $39,000. Finally, Eastern Bank acquired a new position in shares of J. M. Smucker during the 3rd quarter worth $40,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Up 8.3 %

SJM opened at $123.09 on Tuesday. The business has a 50 day moving average of $116.42 and a 200-day moving average of $115.55. The stock has a market capitalization of $13.10 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 3.18 and a beta of 0.25. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the firm earned $2.59 EPS. The business’s revenue was up 17.2% on a year-over-year basis. As a group, sell-side analysts anticipate that The J. M. Smucker Company will post 9.79 earnings per share for the current year.

J. M. Smucker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a dividend of $1.08 per share. The ex-dividend date is Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 3.51%. J. M. Smucker’s dividend payout ratio is 61.10%.

Analyst Upgrades and Downgrades

SJM has been the subject of several analyst reports. TD Cowen reduced their price objective on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Stifel Nicolaus cut J. M. Smucker from a “buy” rating to a “hold” rating and reduced their price target for the stock from $135.00 to $125.00 in a research report on Friday, October 25th. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Wells Fargo & Company reduced their target price on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Finally, DA Davidson reiterated a “neutral” rating and set a $121.00 price target on shares of J. M. Smucker in a report on Thursday, August 29th. One 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $127.09.

About J. M. Smucker

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.