State Street Corp Has $861.15 Million Position in The J. M. Smucker Company (NYSE:SJM)

State Street Corp grew its stake in The J. M. Smucker Company (NYSE:SJM) by 12.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,111,023 shares of the company’s stock after buying an additional 762,746 shares during the period. State Street Corp owned 6.68% of J. M. Smucker worth $861,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Cetera Investment Advisers raised its holdings in J. M. Smucker by 62.0% during the 1st quarter. Cetera Investment Advisers now owns 24,174 shares of the company’s stock worth $3,043,000 after purchasing an additional 9,250 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in J. M. Smucker by 51.5% in the second quarter. Sound Income Strategies LLC now owns 1,080 shares of the company’s stock valued at $118,000 after buying an additional 367 shares during the period. Czech National Bank lifted its holdings in J. M. Smucker by 8.3% in the second quarter. Czech National Bank now owns 20,232 shares of the company’s stock valued at $2,206,000 after buying an additional 1,556 shares during the period. D.B. Root & Company LLC boosted its position in J. M. Smucker by 5.8% during the second quarter. D.B. Root & Company LLC now owns 8,222 shares of the company’s stock valued at $897,000 after acquiring an additional 449 shares during the last quarter. Finally, M&G Plc acquired a new stake in J. M. Smucker during the 2nd quarter worth about $603,000. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Stock Performance

SJM opened at $116.46 on Friday. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62. The company has a market cap of $12.39 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 3.27 and a beta of 0.26. The company’s fifty day moving average price is $116.14 and its two-hundred day moving average price is $115.74. 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 posted its earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The firm’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.59 EPS. On average, analysts expect that The J. M. Smucker Company will post 9.9 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were issued a dividend of $1.08 per share. The ex-dividend date was Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 3.71%. J. M. Smucker’s dividend payout ratio (DPR) is currently 87.45%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Citigroup reduced their price objective on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Barclays lowered their price objective on shares of J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a research note on Wednesday. Stifel Nicolaus lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and cut their target price for the stock from $135.00 to $125.00 in a research note on Friday, October 25th. Finally, Bank of America decreased 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 research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $128.56.

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.