KG&L Capital Management LLC Sells 7,025 Shares of The J. M. Smucker Company (NYSE:SJM)

KG&L Capital Management LLC cut its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 76.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,160 shares of the company’s stock after selling 7,025 shares during the quarter. KG&L Capital Management LLC’s holdings in J. M. Smucker were worth $262,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its stake in shares of J. M. Smucker by 6,703.1% during the 2nd 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 period. Cetera Investment Advisers grew its stake in shares of J. M. Smucker by 62.0% during the 1st quarter. Cetera Investment Advisers now owns 24,174 shares of the company’s stock valued at $3,043,000 after acquiring an additional 9,250 shares during the period. Swedbank AB grew its stake in shares of J. M. Smucker by 14.1% during the 2nd quarter. Swedbank AB now owns 127,618 shares of the company’s stock valued at $13,915,000 after acquiring an additional 15,792 shares during the period. Westwood Holdings Group Inc. boosted its stake in J. M. Smucker by 25.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 56,816 shares of the company’s stock worth $7,151,000 after purchasing an additional 11,622 shares during the period. Finally, UniSuper Management Pty Ltd boosted its stake in J. M. Smucker by 553.9% in the 1st quarter. UniSuper Management Pty Ltd now owns 8,874 shares of the company’s stock worth $1,117,000 after purchasing an additional 7,517 shares during the period. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Stock Performance

NYSE:SJM opened at $113.69 on Tuesday. The stock’s fifty day moving average is $118.25 and its 200 day moving average is $115.72. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $134.62. The firm has a market capitalization of $12.10 billion, a PE ratio of 16.08, a PEG ratio of 3.23 and a beta of 0.25. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.27. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the firm posted $2.21 EPS. J. M. Smucker’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, sell-side analysts anticipate that The J. M. Smucker Company will post 9.8 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 yield of 3.80%. J. M. Smucker’s payout ratio is presently 61.10%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SJM shares. TD Cowen dropped their price target on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Stifel Nicolaus downgraded J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price target for the stock from $135.00 to $125.00 in a research note on Friday, October 25th. Barclays dropped their price target on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. DA Davidson restated a “neutral” rating and issued a $121.00 price target on shares of J. M. Smucker in a research note on Thursday, August 29th. Finally, Citigroup decreased their price objective on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, J. M. Smucker currently has a consensus rating of “Hold” and an average target price of $126.42.

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.