Bank of Montreal Can Cuts Stock Position in The J. M. Smucker Company (NYSE:SJM)

Bank of Montreal Can trimmed its position in shares of The J. M. Smucker Company (NYSE:SJM) by 9.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 732,344 shares of the company’s stock after selling 72,685 shares during the quarter. Bank of Montreal Can’s holdings in J. M. Smucker were worth $88,723,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SJM. Probity Advisors Inc. increased its stake in J. M. Smucker by 1.1% during the 3rd quarter. Probity Advisors Inc. now owns 8,791 shares of the company’s stock worth $1,065,000 after buying an additional 96 shares during the period. Anchor Investment Management LLC increased its position in shares of J. M. Smucker by 0.5% during the second quarter. Anchor Investment Management LLC now owns 19,791 shares of the company’s stock worth $2,158,000 after acquiring an additional 99 shares during the period. State of Michigan Retirement System raised its stake in shares of J. M. Smucker by 0.3% in the second quarter. State of Michigan Retirement System now owns 33,561 shares of the company’s stock valued at $3,659,000 after acquiring an additional 100 shares in the last quarter. Romano Brothers AND Company boosted its holdings in J. M. Smucker by 3.5% in the third quarter. Romano Brothers AND Company now owns 2,987 shares of the company’s stock valued at $362,000 after purchasing an additional 100 shares during the period. Finally, Blue Trust Inc. grew its stake in J. M. Smucker by 11.0% during the 3rd quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock worth $125,000 after purchasing an additional 102 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. DA Davidson reaffirmed a “neutral” rating and issued a $121.00 price target on shares of J. M. Smucker in a research report on Thursday, August 29th. Citigroup reduced their target price on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Bank of America lowered their price target on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Stifel Nicolaus lowered J. M. Smucker from a “buy” rating to a “hold” rating and dropped their target price for the company from $135.00 to $125.00 in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $127.09.

J. M. Smucker Price Performance

Shares of NYSE SJM opened at $120.15 on Wednesday. The stock has a market cap of $12.79 billion, a P/E ratio of 16.99, a P/E/G ratio of 3.19 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. The stock has a 50 day moving average of $116.42 and a two-hundred day moving average of $115.55. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, beating the consensus estimate of $2.49 by $0.27. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.27 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. J. M. Smucker’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.59 EPS. On average, research analysts forecast that The J. M. Smucker Company will post 9.79 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid 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 3.60%. J. M. Smucker’s dividend payout ratio (DPR) is 61.10%.

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.