State Street Corp Boosts Stake in The J. M. Smucker Company (NYSE:SJM)

State Street Corp lifted its holdings in The J. M. Smucker Company (NYSE:SJM) by 12.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,111,023 shares of the company’s stock after buying an additional 762,746 shares during the period. State Street Corp owned approximately 0.07% of J. M. Smucker worth $861,145,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers lifted its holdings in J. M. Smucker by 62.0% during the first quarter. Cetera Investment Advisers now owns 24,174 shares of the company’s stock worth $3,043,000 after acquiring an additional 9,250 shares during the period. Sound Income Strategies LLC increased its position in shares of J. M. Smucker by 51.5% during the 2nd quarter. Sound Income Strategies LLC now owns 1,080 shares of the company’s stock valued at $118,000 after purchasing an additional 367 shares during the last quarter. Czech National Bank raised its stake in shares of J. M. Smucker by 8.3% during the 2nd quarter. Czech National Bank now owns 20,232 shares of the company’s stock worth $2,206,000 after purchasing an additional 1,556 shares during the period. D.B. Root & Company LLC boosted its holdings in shares of J. M. Smucker by 5.8% in the 2nd quarter. D.B. Root & Company LLC now owns 8,222 shares of the company’s stock worth $897,000 after buying an additional 449 shares during the last quarter. Finally, M&G Plc bought a new position in J. M. Smucker during the second quarter valued at about $603,000. 81.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

SJM has been the topic of several research reports. DA Davidson reaffirmed a “neutral” rating and issued a $121.00 price objective on shares of J. M. Smucker in a research report on Thursday, August 29th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. Barclays reduced their price objective on J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a report on Wednesday. Wells Fargo & Company boosted their target price on J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, TD Cowen dropped their price target on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $128.56.

J. M. Smucker Price Performance

Shares of NYSE SJM opened at $116.46 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $134.62. The stock has a market cap of $12.39 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 3.27 and a beta of 0.26. The stock has a fifty day moving average of $116.14 and a 200-day moving average of $115.74.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. 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 during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the firm earned $2.59 EPS. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. Equities research analysts anticipate that The J. M. Smucker Company will post 9.9 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.71%. The ex-dividend date was Friday, November 15th. J. M. Smucker’s payout ratio is 87.45%.

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.