Cinctive Capital Management LP Invests $998,000 in The J. M. Smucker Company $SJM

Cinctive Capital Management LP acquired a new stake in The J. M. Smucker Company (NYSE:SJM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,187 shares of the company’s stock, valued at approximately $998,000.

A number of other institutional investors have also modified their holdings of SJM. CYBER HORNET ETFs LLC purchased a new position in J. M. Smucker in the second quarter valued at approximately $27,000. Elevation Point Wealth Partners LLC purchased a new stake in J. M. Smucker during the second quarter worth approximately $28,000. Root Financial Partners LLC acquired a new stake in shares of J. M. Smucker in the third quarter worth $29,000. MUFG Securities EMEA plc acquired a new stake in shares of J. M. Smucker in the second quarter worth $31,000. Finally, Caldwell Trust Co purchased a new position in shares of J. M. Smucker in the 2nd quarter valued at $52,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Price Performance

SJM opened at $104.81 on Tuesday. The J. M. Smucker Company has a twelve month low of $93.30 and a twelve month high of $120.76. The firm has a market cap of $11.18 billion, a price-to-earnings ratio of -8.89, a PEG ratio of 4.42 and a beta of 0.22. The company has a current ratio of 0.84, a quick ratio of 0.35 and a debt-to-equity ratio of 1.31. The company has a fifty day simple moving average of $106.65 and a 200 day simple moving average of $105.24.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Thursday, February 26th. The company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.11. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.32 billion. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.61 EPS. Equities research analysts expect that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were paid a $1.10 dividend. The ex-dividend date was Friday, February 13th. This represents a $4.40 annualized dividend and a dividend yield of 4.2%. J. M. Smucker’s payout ratio is -37.32%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SJM. Weiss Ratings restated a “sell (d)” rating on shares of J. M. Smucker in a report on Wednesday, January 21st. Wells Fargo & Company increased their price target on J. M. Smucker from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Citigroup restated a “hold” rating on shares of J. M. Smucker in a research note on Wednesday, November 26th. Stifel Nicolaus decreased their target price on J. M. Smucker from $115.00 to $110.00 and set a “hold” rating for the company in a research report on Wednesday, November 26th. Finally, Bank of America upgraded J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a research note on Monday, February 23rd. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, J. M. Smucker has an average rating of “Hold” and a consensus target price of $121.14.

About J. M. Smucker

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company’s main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker’s core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker’s® fruit spreads, Jif® peanut butter, Folgers® and Dunkin’® coffees, and Café Bustelo® coffee.