Entropy Technologies LP Invests $796,000 in The J. M. Smucker Company (NYSE:SJM)

Entropy Technologies LP acquired a new position in shares of The J. M. Smucker Company (NYSE:SJM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,573 shares of the company’s stock, valued at approximately $796,000.

A number of other hedge funds have also modified their holdings of SJM. Probity Advisors Inc. grew its stake in J. M. Smucker by 1.1% in the 3rd quarter. Probity Advisors Inc. now owns 8,791 shares of the company’s stock worth $1,065,000 after acquiring an additional 96 shares during the period. Anchor Investment Management LLC grew its stake in J. M. Smucker by 0.5% in the 2nd quarter. Anchor Investment Management LLC now owns 19,791 shares of the company’s stock worth $2,158,000 after acquiring an additional 99 shares during the period. State of Michigan Retirement System grew its stake in J. M. Smucker by 0.3% in the 2nd 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 during the period. Romano Brothers AND Company grew its stake in 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 period. Finally, Blue Trust Inc. boosted 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 purchasing an additional 102 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SJM has been the topic of a number of research analyst reports. Stifel Nicolaus lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price target for the company from $135.00 to $125.00 in a report on Friday, October 25th. Wells Fargo & Company decreased their price target on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Bank of America decreased their price target on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. TD Cowen decreased their price target on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $121.00 price target on shares of J. M. Smucker in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $127.09.

J. M. Smucker Price Performance

SJM opened at $110.74 on Friday. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 3.20 and a beta of 0.25. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $134.62. The company’s 50-day moving average price is $117.52 and its 200 day moving average price is $115.61. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.17 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business earned $2.21 earnings per share. J. M. Smucker’s revenue was up 17.7% compared to the same quarter last year. As a group, sell-side analysts expect that The J. M. Smucker Company will post 9.8 earnings per share for the current year.

J. M. Smucker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 annualized dividend and a dividend yield of 3.90%. J. M. Smucker’s payout ratio 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.