Cable Hill Partners LLC Invests $253,000 in The J. M. Smucker Company (NYSE:SJM)

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

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in shares of J. M. Smucker by 6,703.1% during the second quarter. Assenagon Asset Management S.A. now owns 159,873 shares of the company’s stock valued at $17,433,000 after acquiring an additional 157,523 shares during the last quarter. Cetera Investment Advisers grew its position in shares of J. M. Smucker by 62.0% in the 1st quarter. Cetera Investment Advisers now owns 24,174 shares of the company’s stock worth $3,043,000 after buying an additional 9,250 shares during the last quarter. Swedbank AB increased its stake in shares of J. M. Smucker by 14.1% during the second 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 period. Westwood Holdings Group Inc. raised its holdings in shares of J. M. Smucker by 25.7% during the first quarter. Westwood Holdings Group Inc. now owns 56,816 shares of the company’s stock valued at $7,151,000 after acquiring an additional 11,622 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its stake in J. M. Smucker by 553.9% in the first quarter. UniSuper Management Pty Ltd now owns 8,874 shares of the company’s stock worth $1,117,000 after acquiring an additional 7,517 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on SJM. Wells Fargo & Company lowered their price objective on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. TD Cowen decreased 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. DA Davidson restated a “neutral” rating and set a $121.00 target price on shares of J. M. Smucker in a report on Thursday, August 29th. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Stifel Nicolaus lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $135.00 to $125.00 in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $127.09.

J. M. Smucker Price Performance

Shares of SJM opened at $110.74 on Friday. The firm has a 50 day moving average of $117.52 and a 200 day moving average of $115.61. 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 company has a market capitalization of $11.78 billion, a P/E ratio of 15.66, a price-to-earnings-growth ratio of 3.18 and a beta of 0.25. The J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $134.62.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results 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 return on equity of 14.22% and a net margin of 8.77%. J. M. Smucker’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.21 earnings per share. As a group, equities research analysts anticipate that The J. M. Smucker Company will post 9.8 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $1.08 per share. The ex-dividend date 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 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.