Cable Hill Partners LLC Makes New Investment in The J. M. Smucker Company (NYSE:SJM)

Cable Hill Partners LLC purchased a new stake in The J. M. Smucker Company (NYSE:SJM) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,088 shares of the company’s stock, valued at approximately $253,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SJM. Studio Investment Management LLC purchased a new stake in J. M. Smucker during the 2nd quarter valued at approximately $26,000. Venturi Wealth Management LLC raised its stake in shares of J. M. Smucker by 1,329.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock worth $29,000 after buying an additional 226 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of J. M. Smucker in the third quarter worth $39,000. Quarry LP grew its holdings in shares of J. M. Smucker by 212.6% during the second quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after buying an additional 219 shares in the last quarter. Finally, Eastern Bank purchased a new position in shares of J. M. Smucker during the 3rd quarter worth $40,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SJM. Wells Fargo & Company reduced their price objective on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. Citigroup cut their price objective on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Stifel Nicolaus downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and lowered their price objective for the company from $135.00 to $125.00 in a research report on Friday, October 25th. TD Cowen reduced their price target on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Barclays cut their target price on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $127.09.

J. M. Smucker Stock Performance

Shares of J. M. Smucker stock opened at $110.74 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $11.78 billion, a PE ratio of 15.66, a PEG ratio of 3.18 and a beta of 0.25. The stock’s fifty day simple moving average is $117.52 and its 200 day simple moving average is $115.61. The J. M. Smucker Company has a 12 month low of $105.69 and a 12 month high of $134.62.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data 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 company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company posted $2.21 earnings per share. The business’s revenue was up 17.7% on a year-over-year basis. On average, research analysts predict that The J. M. Smucker Company will post 9.8 EPS for the current year.

J. M. Smucker Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 annualized dividend and a dividend yield of 3.90%. J. M. Smucker’s dividend payout ratio is 61.10%.

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.