Klingman & Associates LLC Invests $230,000 in The J. M. Smucker Company (NYSE:SJM)

Klingman & Associates LLC bought a new position in shares of The J. M. Smucker Company (NYSE:SJM) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,902 shares of the company’s stock, valued at approximately $230,000.

Several other hedge funds have also modified their holdings of the stock. Studio Investment Management LLC acquired a new stake in J. M. Smucker during the 2nd quarter worth about $26,000. Quarry LP raised 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 valued at $35,000 after acquiring an additional 219 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in shares of J. M. Smucker in the 3rd quarter valued at approximately $39,000. Eastern Bank purchased a new stake in shares of J. M. Smucker in the 3rd quarter valued at approximately $40,000. Finally, Rothschild Investment LLC acquired a new position in J. M. Smucker in the 2nd quarter worth approximately $42,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on SJM shares. Bank of America cut their target price on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Stifel Nicolaus lowered J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $135.00 to $125.00 in a research report on Friday, October 25th. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. 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 research report on Thursday, August 29th. Finally, DA Davidson restated a “neutral” rating and set a $121.00 price target on shares of J. M. Smucker in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $126.42.

J. M. Smucker Price Performance

NYSE SJM opened at $115.45 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $12.29 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 3.30 and a beta of 0.25. The J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $134.62. The company has a 50 day moving average price of $118.07 and a two-hundred day moving average price of $115.72.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.27. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. J. M. Smucker’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.21 EPS. As a group, equities analysts predict that The J. M. Smucker Company will post 9.8 earnings per share 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. Investors of record on Friday, November 15th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s payout ratio is 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.