Cornerstone Capital Inc. Has $8.92 Million Holdings in The J. M. Smucker Company (NYSE:SJM)

Cornerstone Capital Inc. trimmed its holdings in The J. M. Smucker Company (NYSE:SJM) by 2.7% in the third quarter, Holdings Channel reports. The fund owned 73,640 shares of the company’s stock after selling 2,080 shares during the period. Cornerstone Capital Inc.’s holdings in J. M. Smucker were worth $8,918,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SJM. Probity Advisors Inc. increased its stake in J. M. Smucker by 1.1% during the 3rd quarter. Probity Advisors Inc. now owns 8,791 shares of the company’s stock worth $1,065,000 after purchasing an additional 96 shares in the last quarter. Anchor Investment Management LLC boosted its holdings in J. M. Smucker by 0.5% during the second quarter. Anchor Investment Management LLC now owns 19,791 shares of the company’s stock worth $2,158,000 after purchasing an additional 99 shares during the last quarter. State of Michigan Retirement System grew its position in J. M. Smucker by 0.3% in the second quarter. State of Michigan Retirement System now owns 33,561 shares of the company’s stock valued at $3,659,000 after purchasing an additional 100 shares in the last quarter. Romano Brothers AND Company lifted its position in J. M. Smucker by 3.5% during the 3rd quarter. Romano Brothers AND Company now owns 2,987 shares of the company’s stock worth $362,000 after buying an additional 100 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of J. M. Smucker by 11.0% during the 3rd quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock worth $125,000 after buying an additional 102 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. DA Davidson reissued a “neutral” rating and set a $121.00 price target on shares of J. M. Smucker in a research report on Thursday, August 29th. Barclays cut their price objective on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. BNP Paribas upgraded shares of J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Stifel Nicolaus downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and cut their target price for the company from $135.00 to $125.00 in a research note on Friday, October 25th. Finally, Bank of America lowered their price target on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, J. M. Smucker presently has an average rating of “Hold” and an average target price of $126.42.

J. M. Smucker Stock Performance

NYSE SJM traded up $1.75 on Tuesday, reaching $115.44. The stock had a trading volume of 102,341 shares, compared to its average volume of 1,147,215. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The company has a market cap of $12.28 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 3.23 and a beta of 0.25. The firm has a fifty day moving average of $118.09 and a two-hundred day moving average of $115.74. 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 released its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.17 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the company posted $2.21 earnings per share. J. M. Smucker’s revenue was up 17.7% compared to the same quarter last year. On average, equities research analysts anticipate that The J. M. Smucker Company will post 9.8 EPS for the current year.

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s dividend payout ratio is currently 61.10%.

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.