Staley Capital Advisers Inc. Lowers Position in The J. M. Smucker Company $SJM

Staley Capital Advisers Inc. cut its stake in The J. M. Smucker Company (NYSE:SJM) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 543,852 shares of the company’s stock after selling 25,870 shares during the quarter. J. M. Smucker accounts for about 2.2% of Staley Capital Advisers Inc.’s portfolio, making the stock its 14th biggest position. Staley Capital Advisers Inc.’s holdings in J. M. Smucker were worth $53,194,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SJM. Ashton Thomas Private Wealth LLC increased its position in shares of J. M. Smucker by 150.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 57,999 shares of the company’s stock valued at $6,299,000 after acquiring an additional 34,800 shares during the last quarter. ProShare Advisors LLC increased its position in shares of J. M. Smucker by 13.8% during the third quarter. ProShare Advisors LLC now owns 1,562,259 shares of the company’s stock valued at $169,661,000 after acquiring an additional 188,868 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of J. M. Smucker during the third quarter valued at approximately $9,444,000. Neo Ivy Capital Management purchased a new stake in J. M. Smucker in the third quarter worth $997,000. Finally, Murphy Middleton Hinkle & Parker Inc. purchased a new stake in J. M. Smucker in the fourth quarter worth $1,406,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Stock Performance

J. M. Smucker stock opened at $100.46 on Friday. The J. M. Smucker Company has a 1-year low of $88.25 and a 1-year high of $119.39. 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 firm has a market capitalization of $10.71 billion, a PE ratio of -8.52, a price-to-earnings-growth ratio of 4.03 and a beta of 0.25. The firm’s 50 day simple moving average is $98.37 and its 200 day simple moving average is $102.10.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Thursday, February 26th. The company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.11. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the prior year, the company posted $2.61 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts expect that The J. M. Smucker Company will post 9.04 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.40 annualized dividend and a yield of 4.4%. J. M. Smucker’s dividend payout ratio (DPR) is currently -37.32%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SJM. BTIG Research began coverage on J. M. Smucker in a research report on Monday, April 13th. They set a “buy” rating and a $120.00 price target on the stock. Morgan Stanley cut their price target on J. M. Smucker from $118.00 to $104.00 and set an “equal weight” rating for the company in a research note on Thursday, April 23rd. Wells Fargo & Company cut their price target on J. M. Smucker from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. TD Cowen cut their price target on J. M. Smucker from $124.00 to $113.00 and set a “hold” rating for the company in a research note on Thursday, March 19th. Finally, Bank of America upgraded J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 price target for the company in a research note on Monday, February 23rd. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $116.59.

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.