Forsta AP Fonden Purchases 8,600 Shares of The J. M. Smucker Company (NYSE:SJM)

Forsta AP Fonden boosted its position in The J. M. Smucker Company (NYSE:SJM) by 39.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,500 shares of the company’s stock after acquiring an additional 8,600 shares during the period. Forsta AP Fonden’s holdings in J. M. Smucker were worth $3,694,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SJM. Resonant Capital Advisors LLC lifted its holdings in shares of J. M. Smucker by 0.7% in the 1st quarter. Resonant Capital Advisors LLC now owns 14,328 shares of the company’s stock worth $1,803,000 after purchasing an additional 93 shares in the last quarter. Probity Advisors Inc. lifted its stake in shares of J. M. Smucker by 1.1% in the third quarter. Probity Advisors Inc. now owns 8,791 shares of the company’s stock valued at $1,065,000 after buying an additional 96 shares in the last quarter. Anchor Investment Management LLC grew its holdings in shares of J. M. Smucker by 0.5% during the second quarter. Anchor Investment Management LLC now owns 19,791 shares of the company’s stock valued at $2,158,000 after buying an additional 99 shares during the last quarter. State of Michigan Retirement System increased its position in shares of J. M. Smucker by 0.3% during the second quarter. State of Michigan Retirement System now owns 33,561 shares of the company’s stock worth $3,659,000 after acquiring an additional 100 shares in the last quarter. Finally, Romano Brothers AND Company raised its holdings in shares of J. M. Smucker by 3.5% in the 3rd quarter. Romano Brothers AND Company now owns 2,987 shares of the company’s stock worth $362,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analysts Set New Price Targets

SJM has been the subject of a number of analyst reports. Stifel Nicolaus downgraded J. M. Smucker from a “buy” rating to a “hold” rating and cut their price target for the company from $135.00 to $125.00 in a research note on Friday, October 25th. Citigroup cut their target price on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Barclays lowered 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 report on Friday, August 30th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. Finally, Bank of America lowered their target price on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, J. M. Smucker presently has an average rating of “Hold” and an average target price of $126.42.

J. M. Smucker Trading Down 1.4 %

NYSE:SJM opened at $113.79 on Wednesday. The firm’s 50 day moving average is $118.72 and its 200 day moving average is $115.65. The J. M. Smucker Company has a 12 month low of $105.69 and a 12 month high of $134.62. The stock has a market capitalization of $12.11 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 3.32 and a beta of 0.24. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the firm earned $2.21 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. Sell-side analysts expect that The J. M. Smucker Company will post 9.81 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s dividend payout ratio (DPR) is currently 61.10%.

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.