Cornerstone Capital Inc. Has $8.92 Million Position in The J. M. Smucker Company (NYSE:SJM)

Cornerstone Capital Inc. decreased its position in The J. M. Smucker Company (NYSE:SJM) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,640 shares of the company’s stock after selling 2,080 shares during the quarter. Cornerstone Capital Inc. owned approximately 0.07% of J. M. Smucker worth $8,918,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Studio Investment Management LLC acquired a new position in shares of J. M. Smucker during the second quarter worth approximately $26,000. Quarry LP raised its stake in J. M. Smucker by 212.6% during the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after purchasing an additional 219 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in J. M. Smucker in the 3rd quarter worth $39,000. Eastern Bank bought a new position in shares of J. M. Smucker during the 3rd quarter worth about $40,000. Finally, Rothschild Investment LLC acquired a new position in shares of J. M. Smucker during the second quarter valued at about $42,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SJM shares. DA Davidson restated a “neutral” rating and set a $121.00 price target on shares of J. M. Smucker in a research note on Thursday, August 29th. Wells Fargo & Company lowered their price target on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Stifel Nicolaus lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and decreased their target price for the company from $135.00 to $125.00 in a research report on Friday, October 25th. TD Cowen decreased their price objective on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Barclays dropped their target price on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $126.42.

J. M. Smucker Price Performance

Shares of NYSE SJM traded up $1.75 during trading on Tuesday, reaching $115.44. The company had a trading volume of 102,341 shares, compared to its average volume of 1,147,215. 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 business’s 50 day moving average price is $118.09 and its 200-day moving average price is $115.74. The stock has a market cap of $12.28 billion, a PE ratio of 16.30, a PEG ratio of 3.23 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the business earned $2.21 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. Analysts expect that The J. M. Smucker Company will post 9.8 earnings per share 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. Shareholders 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 dividend on an annualized basis and a yield of 3.74%. J. M. Smucker’s payout ratio is presently 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.