PNC Financial Services Group Inc. Has $16.55 Million Position in The J. M. Smucker Company (NYSE:SJM)

PNC Financial Services Group Inc. trimmed its holdings in The J. M. Smucker Company (NYSE:SJM) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 136,671 shares of the company’s stock after selling 1,638 shares during the quarter. PNC Financial Services Group Inc.’s holdings in J. M. Smucker were worth $16,551,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SJM. Probity Advisors Inc. boosted its holdings in J. M. Smucker by 1.1% in the 3rd quarter. Probity Advisors Inc. now owns 8,791 shares of the company’s stock valued at $1,065,000 after purchasing an additional 96 shares during the period. Anchor Investment Management LLC grew its position in shares of J. M. Smucker by 0.5% during the 2nd quarter. Anchor Investment Management LLC now owns 19,791 shares of the company’s stock worth $2,158,000 after buying an additional 99 shares during the period. State of Michigan Retirement System lifted its stake in J. M. Smucker by 0.3% in the second quarter. State of Michigan Retirement System now owns 33,561 shares of the company’s stock valued at $3,659,000 after buying an additional 100 shares during the period. Romano Brothers AND Company boosted its position in shares of J. M. Smucker by 3.5% during the third quarter. Romano Brothers AND Company now owns 2,987 shares of the company’s stock worth $362,000 after purchasing an additional 100 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of J. M. Smucker by 11.0% in the 3rd quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock valued at $125,000 after buying an additional 102 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

SJM stock opened at $113.63 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87. The firm has a market cap of $12.09 billion, a PE ratio of 16.07, a P/E/G ratio of 3.21 and a beta of 0.25. The business has a 50 day moving average of $116.72 and a 200-day moving average of $115.51. The J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $134.62.

J. M. Smucker (NYSE:SJM) last released its earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.27. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.21 EPS. As a group, sell-side analysts expect that The J. M. Smucker Company will post 9.79 earnings per share for the current year.

J. M. Smucker Announces Dividend

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

Wall Street Analysts Forecast Growth

SJM has been the topic of a number of research analyst reports. Barclays dropped their price target on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Friday, August 30th. Citigroup lowered their price objective on shares of 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. Stifel Nicolaus cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and cut their price objective for the company from $135.00 to $125.00 in a research report on Friday, October 25th. BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Finally, TD Cowen cut their price target on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $127.09.

J. M. Smucker Profile

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.