Anchor Investment Management LLC Reduces Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Anchor Investment Management LLC lowered its stake in The J. M. Smucker Company (NYSE:SJM) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,188 shares of the company’s stock after selling 603 shares during the period. Anchor Investment Management LLC’s holdings in J. M. Smucker were worth $2,324,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of J. M. Smucker by 6.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,522 shares of the company’s stock valued at $1,802,000 after purchasing an additional 1,056 shares during the period. Swedbank AB lifted its position in J. M. Smucker by 14.1% during the second quarter. Swedbank AB now owns 127,618 shares of the company’s stock valued at $13,915,000 after buying an additional 15,792 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of J. M. Smucker by 6,703.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 159,873 shares of the company’s stock valued at $17,433,000 after buying an additional 157,523 shares in the last quarter. Blue Trust Inc. grew its position in shares of J. M. Smucker by 25.8% in the 2nd quarter. Blue Trust Inc. now owns 930 shares of the company’s stock worth $101,000 after buying an additional 191 shares during the period. Finally, Raymond James & Associates increased its stake in shares of J. M. Smucker by 30.3% in the 2nd quarter. Raymond James & Associates now owns 240,627 shares of the company’s stock worth $26,238,000 after acquiring an additional 56,019 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and cut their price objective for the stock from $135.00 to $125.00 in a report on Friday, October 25th. DA Davidson reaffirmed a “neutral” rating and set a $121.00 price objective on shares of J. M. Smucker in a research report on Thursday, August 29th. Wells Fargo & Company boosted their target price on J. M. Smucker from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Citigroup lowered 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. Finally, Barclays cut their price objective on shares of J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $128.56.

J. M. Smucker Stock Up 0.2 %

NYSE SJM opened at $113.52 on Friday. The J. M. Smucker Company has a 52 week low of $105.69 and a 52 week high of $134.62. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $12.08 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 3.18 and a beta of 0.26. The stock’s 50-day moving average price is $115.76 and its 200-day moving average price is $115.82.

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 the consensus estimate of $2.51 by $0.25. The business had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.59 earnings per share. On average, equities research analysts predict that The J. M. Smucker Company will post 9.9 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were paid a $1.08 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a yield of 3.81%. J. M. Smucker’s payout ratio is presently 87.45%.

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.