Tidal Investments LLC Acquires 190 Shares of The J. M. Smucker Company (NYSE:SJM)

Tidal Investments LLC boosted its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 1.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 15,038 shares of the company’s stock after purchasing an additional 190 shares during the period. Tidal Investments LLC’s holdings in J. M. Smucker were worth $1,821,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Studio Investment Management LLC bought a new position in shares of J. M. Smucker during the 2nd quarter valued at approximately $26,000. Venturi Wealth Management LLC boosted its stake in J. M. Smucker by 1,329.4% during the third 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 period. Catalyst Capital Advisors LLC bought a new position in J. M. Smucker during the third quarter valued at $39,000. Quarry LP raised its stake in shares of J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after acquiring an additional 219 shares during the period. Finally, Eastern Bank bought a new stake in shares of J. M. Smucker in the 3rd quarter worth about $40,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SJM. Wells Fargo & Company increased their price objective on shares of J. M. Smucker from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Barclays reduced their price target on J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 4th. Bank of America dropped their price objective on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Stifel Nicolaus cut J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price objective for the company from $135.00 to $125.00 in a report on Friday, October 25th. Finally, TD Cowen dropped their price objective on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, J. M. Smucker currently has a consensus rating of “Hold” and a consensus target price of $128.56.

J. M. Smucker Price Performance

Shares of SJM stock opened at $114.56 on Wednesday. The J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $134.62. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 3.46 and a beta of 0.26. The stock has a fifty day simple moving average of $115.57 and a two-hundred day simple moving average of $116.01. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.27 billion. During the same period in the prior year, the business earned $2.59 EPS. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. On average, analysts predict that The J. M. Smucker Company will post 9.89 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The company also recently announced 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 dividend yield of 3.77%. The ex-dividend date was Friday, November 15th. J. M. Smucker’s dividend 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.