Anchor Investment Management LLC Reduces Stock Position in The J. M. Smucker Company (NYSE:SJM)

Anchor Investment Management LLC cut its holdings in The J. M. Smucker Company (NYSE:SJM) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,188 shares of the company’s stock after selling 603 shares during the period. Anchor Investment Management LLC’s holdings in J. M. Smucker were worth $2,324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Raymond James Trust N.A. boosted its position in shares of J. M. Smucker by 6.8% in the third quarter. Raymond James Trust N.A. now owns 4,846 shares of the company’s stock valued at $587,000 after acquiring an additional 310 shares during the period. Assenagon Asset Management S.A. boosted its holdings in J. M. Smucker by 6,703.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 159,873 shares of the company’s stock valued at $17,433,000 after purchasing an additional 157,523 shares during the period. FMR LLC grew its position in shares of J. M. Smucker by 40.0% during the 3rd quarter. FMR LLC now owns 3,353,996 shares of the company’s stock valued at $406,169,000 after purchasing an additional 958,142 shares in the last quarter. Swedbank AB increased its holdings in shares of J. M. Smucker by 14.1% in the second quarter. Swedbank AB now owns 127,618 shares of the company’s stock worth $13,915,000 after purchasing an additional 15,792 shares during the period. Finally, Great Valley Advisor Group Inc. purchased a new stake in shares of J. M. Smucker in the third quarter worth $3,266,000. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

NYSE SJM opened at $113.52 on Friday. The company has a 50-day simple moving average of $115.76 and a two-hundred day simple moving average of $115.82. The J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $134.62. The firm has a market cap of $12.08 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 3.18 and a beta of 0.26. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.25. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company earned $2.59 EPS. J. M. Smucker’s revenue for the quarter was up 17.2% compared to the same quarter last year. On average, equities analysts forecast that The J. M. Smucker Company will post 9.9 EPS for the current year.

J. M. Smucker Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 3.81%. J. M. Smucker’s payout ratio is currently 87.45%.

Wall Street Analyst Weigh In

SJM has been the subject of several recent analyst reports. BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. Citigroup decreased their price objective on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. DA Davidson reiterated a “neutral” rating and set a $121.00 target price on shares of J. M. Smucker in a research report on Thursday, August 29th. TD Cowen decreased their price target on shares of 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, Wells Fargo & Company lifted their price objective on shares of J. M. Smucker from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $128.56.

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.