GSB Wealth Management LLC Sells 798 Shares of The J. M. Smucker Company (NYSE:SJM)

GSB Wealth Management LLC trimmed its stake in The J. M. Smucker Company (NYSE:SJM) by 14.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,724 shares of the company’s stock after selling 798 shares during the quarter. GSB Wealth Management LLC’s holdings in J. M. Smucker were worth $572,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Studio Investment Management LLC purchased a new position in shares of J. M. Smucker in the second quarter worth $26,000. Quarry LP raised its stake in shares of J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after purchasing an additional 219 shares during the last quarter. Eastern Bank purchased a new position in shares of J. M. Smucker in the third quarter worth $40,000. Trivant Custom Portfolio Group LLC purchased a new position in shares of J. M. Smucker in the third quarter worth $42,000. Finally, Rothschild Investment LLC purchased a new position in shares of J. M. Smucker in the second quarter worth $42,000. 81.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on SJM. Stifel Nicolaus cut J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price target for the stock from $135.00 to $125.00 in a research note on Friday, October 25th. Wells Fargo & Company reduced their price objective on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Bank of America reduced their price objective on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, J. M. Smucker has a consensus rating of “Hold” and a consensus price target of $126.42.

J. M. Smucker Stock Performance

NYSE SJM opened at $113.79 on Wednesday. The firm has a market cap of $12.11 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 3.32 and a beta of 0.24. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average price of $118.72 and a 200-day moving average price of $115.65. The J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $134.62.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.27. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the company earned $2.21 earnings per share. The firm’s revenue was up 17.7% on a year-over-year basis. As a group, equities research analysts predict that The J. M. Smucker Company will post 9.81 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

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. This represents a $4.32 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s payout ratio is presently 61.10%.

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.