JPMorgan Chase & Co. Buys 106,677 Shares of The J. M. Smucker Company $SJM

JPMorgan Chase & Co. increased its stake in The J. M. Smucker Company (NYSE:SJM) by 14.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 865,132 shares of the company’s stock after purchasing an additional 106,677 shares during the quarter. JPMorgan Chase & Co. owned 0.81% of J. M. Smucker worth $93,958,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SJM. CYBER HORNET ETFs LLC purchased a new position in shares of J. M. Smucker in the 2nd quarter worth $27,000. Elevation Point Wealth Partners LLC bought a new stake in shares of J. M. Smucker in the second quarter worth $28,000. Root Financial Partners LLC purchased a new stake in J. M. Smucker during the third quarter valued at $29,000. MUFG Securities EMEA plc bought a new position in J. M. Smucker in the second quarter valued at about $31,000. Finally, Caldwell Trust Co purchased a new position in J. M. Smucker in the second quarter worth about $52,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

J. M. Smucker Price Performance

Shares of NYSE:SJM opened at $102.58 on Wednesday. The company has a market capitalization of $10.94 billion, a P/E ratio of -8.70, a P/E/G ratio of 4.37 and a beta of 0.22. The J. M. Smucker Company has a 1-year low of $93.30 and a 1-year high of $120.76. The firm’s 50 day simple moving average is $106.78 and its two-hundred day simple moving average is $105.19. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.84 and a quick ratio of 0.35.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Thursday, February 26th. The company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.27 by $0.11. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate 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 company’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $2.61 EPS. 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 announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were given a dividend of $1.10 per share. The ex-dividend date was Friday, February 13th. This represents a $4.40 annualized dividend and a dividend yield of 4.3%. J. M. Smucker’s dividend payout ratio (DPR) is currently -37.32%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SJM shares. Weiss Ratings reiterated a “sell (d)” rating on shares of J. M. Smucker in a research note on Wednesday, January 21st. Barclays increased their price target on shares of J. M. Smucker from $105.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Morgan Stanley reissued an “equal weight” rating and set a $105.00 price objective (down from $115.00) on shares of J. M. Smucker in a research report on Friday, January 16th. Wells Fargo & Company raised their target price on J. M. Smucker from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Finally, Bank of America upgraded J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 target price on the stock in a research report on Monday, February 23rd. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.