Bridgewater Associates LP Has $11.79 Million Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Bridgewater Associates LP cut its holdings in The J. M. Smucker Company (NYSE:SJM) by 48.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 97,318 shares of the company’s stock after selling 92,524 shares during the quarter. Bridgewater Associates LP owned about 0.09% of J. M. Smucker worth $11,785,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Studio Investment Management LLC acquired a new position in shares of J. M. Smucker in the 2nd quarter valued at approximately $26,000. Venturi Wealth Management LLC grew its position in shares of J. M. Smucker by 1,329.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after purchasing an additional 226 shares during the period. Quarry LP grew its position in shares of J. M. Smucker by 212.6% in the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after purchasing an additional 219 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of J. M. Smucker in the 3rd quarter valued at approximately $39,000. Finally, Eastern Bank acquired a new position in J. M. Smucker during the 3rd quarter worth approximately $40,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

J. M. Smucker Trading Down 1.7 %

Shares of J. M. Smucker stock opened at $118.00 on Friday. The J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $134.62. The stock has a market cap of $12.56 billion, a P/E ratio of 23.89, a P/E/G ratio of 3.29 and a beta of 0.25. The company has a quick ratio of 0.25, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $116.38 and its 200-day moving average is $115.60.

J. M. Smucker (NYSE:SJM) last posted 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 return on equity of 14.35% and a net margin of 5.96%. The business had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the business earned $2.59 EPS. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. Equities research analysts predict that The J. M. Smucker Company will post 9.85 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm 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 $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s dividend payout ratio (DPR) is presently 87.45%.

Analysts Set New Price Targets

SJM has been the subject of a number of recent research reports. Stifel Nicolaus downgraded 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. Citigroup reduced their price target on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. Bank of America reduced their price target 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. Finally, TD Cowen reduced their price target on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $127.55.

J. M. Smucker 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.