MML Investors Services LLC Reduces Stake in The J. M. Smucker Company (NYSE:SJM)

MML Investors Services LLC reduced its position in The J. M. Smucker Company (NYSE:SJM) by 10.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,817 shares of the company’s stock after selling 1,161 shares during the period. MML Investors Services LLC’s holdings in J. M. Smucker were worth $1,189,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Raymond James Trust N.A. increased its position in J. M. Smucker by 6.8% during the third quarter. Raymond James Trust N.A. now owns 4,846 shares of the company’s stock worth $587,000 after buying an additional 310 shares in the last quarter. FMR LLC increased its position in J. M. Smucker by 40.0% during the third quarter. FMR LLC now owns 3,353,996 shares of the company’s stock worth $406,169,000 after buying an additional 958,142 shares in the last quarter. Great Valley Advisor Group Inc. purchased a new position in J. M. Smucker during the third quarter worth $3,266,000. Stoneridge Investment Partners LLC purchased a new position in J. M. Smucker during the second quarter worth $1,565,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in J. M. Smucker by 60.5% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 20,334 shares of the company’s stock worth $2,217,000 after buying an additional 7,662 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Price Performance

Shares of J. M. Smucker stock opened at $110.23 on Thursday. The J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $134.62. The stock has a market capitalization of $11.73 billion, a P/E ratio of 22.31, a PEG ratio of 3.46 and a beta of 0.26. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89. The business’s fifty day moving average price is $115.43 and its 200 day moving average price is $115.97.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. The company had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.27 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.59 earnings per share. As a group, research analysts anticipate that The J. M. Smucker Company will post 9.89 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date was Friday, November 15th. J. M. Smucker’s dividend payout ratio is presently 87.45%.

Insiders Place Their Bets

In other J. M. Smucker news, CFO Tucker H. Marshall sold 994 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $113.00, for a total transaction of $112,322.00. Following the transaction, the chief financial officer now owns 18,734 shares in the company, valued at $2,116,942. The trade was a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SJM. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. Barclays lowered their price objective on J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 4th. StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company lifted their price objective on J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Finally, TD Cowen lowered their price objective on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $128.56.

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.