Reik & CO. LLC Lowers Stake in The J. M. Smucker Company (NYSE:SJM)

Reik & CO. LLC cut its holdings in The J. M. Smucker Company (NYSE:SJM) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,462 shares of the company’s stock after selling 707 shares during the quarter. J. M. Smucker accounts for approximately 1.6% of Reik & CO. LLC’s holdings, making the stock its 10th largest position. Reik & CO. LLC owned approximately 0.05% of J. M. Smucker worth $6,716,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SJM. Assenagon Asset Management S.A. raised its stake in 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 during the last quarter. Cetera Investment Advisers raised its stake in J. M. Smucker by 62.0% during the 1st quarter. Cetera Investment Advisers now owns 24,174 shares of the company’s stock valued at $3,043,000 after buying an additional 9,250 shares during the last quarter. Swedbank AB raised its stake in J. M. Smucker by 14.1% during the 2nd 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 last quarter. Westwood Holdings Group Inc. raised its stake in J. M. Smucker by 25.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 56,816 shares of the company’s stock valued at $7,151,000 after buying an additional 11,622 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its stake in J. M. Smucker by 553.9% during the 1st quarter. UniSuper Management Pty Ltd now owns 8,874 shares of the company’s stock valued at $1,117,000 after buying an additional 7,517 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SJM. DA Davidson reiterated a “neutral” rating and set a $121.00 target price on shares of J. M. Smucker in a research note on Thursday, August 29th. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Citigroup reduced their price objective on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. Finally, TD Cowen reduced their price objective on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $126.42.

J. M. Smucker Trading Down 0.3 %

Shares of SJM stock opened at $115.31 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 debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55. The firm has a market capitalization of $12.27 billion, a PE ratio of 16.31, a PEG ratio of 3.30 and a beta of 0.25. The stock has a fifty day simple moving average of $118.06 and a two-hundred day simple moving average of $115.75.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the business posted $2.21 EPS. J. M. Smucker’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, analysts predict that The J. M. Smucker Company will post 9.8 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s dividend payout ratio (DPR) is presently 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.