Two Sigma Advisers LP Increases Stock Position in The J. M. Smucker Company (NYSE:SJM)

Two Sigma Advisers LP lifted its holdings in The J. M. Smucker Company (NYSE:SJM) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 610,692 shares of the company’s stock after purchasing an additional 45,400 shares during the quarter. Two Sigma Advisers LP’s holdings in J. M. Smucker were worth $73,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SJM. Studio Investment Management LLC purchased a new position in shares of J. M. Smucker during the second quarter valued at about $26,000. Venturi Wealth Management LLC raised its stake in shares of J. M. Smucker by 1,329.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock worth $29,000 after acquiring an additional 226 shares in the last quarter. Quarry LP raised its stake in J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after buying an additional 219 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in J. M. Smucker in the 3rd quarter worth $39,000. Finally, Eastern Bank purchased a new position in J. M. Smucker during the 3rd quarter worth approximately $40,000. Institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

SJM has been the subject of several recent research reports. Barclays reduced their price target on J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a research report on Wednesday. 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 report on Thursday, August 29th. Citigroup dropped their price target on 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. Wells Fargo & Company boosted their target price on shares of J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Finally, BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $128.56.

J. M. Smucker Stock Down 0.2 %

SJM opened at $116.46 on Friday. The J. M. Smucker Company has a 12 month low of $105.69 and a 12 month high of $134.62. The business has a 50-day moving average of $116.14 and a two-hundred day moving average of $115.71. The stock has a market capitalization of $12.39 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 3.24 and a beta of 0.26. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27.

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

J. M. Smucker Dividend Announcement

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

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.