The J. M. Smucker Company (NYSE:SJM) Short Interest Up 24.3% in November

The J. M. Smucker Company (NYSE:SJM) saw a significant growth in short interest in November. As of November 15th, there was short interest totalling 4,240,000 shares, a growth of 24.3% from the October 31st total of 3,410,000 shares. Currently, 4.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,070,000 shares, the short-interest ratio is presently 4.0 days.

J. M. Smucker Stock Up 1.5 %

Shares of NYSE:SJM traded up $1.82 on Monday, hitting $119.61. 1,363,757 shares of the company’s stock were exchanged, compared to its average volume of 1,179,396. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58. J. M. Smucker has a 1-year low of $105.69 and a 1-year high of $134.62. The company has a market capitalization of $12.73 billion, a PE ratio of 23.79, a P/E/G ratio of 3.32 and a beta of 0.26. The firm’s 50-day moving average is $116.34 and its 200 day moving average is $115.65.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.27. The business 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 business’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.59 earnings per share. Sell-side analysts predict that J. M. Smucker will post 9.87 EPS 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. Shareholders of record on Friday, November 15th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s dividend payout ratio is presently 87.45%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SJM. DA Davidson reissued a “neutral” rating and set a $121.00 target price on shares of J. M. Smucker in a report on Thursday, August 29th. BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. Wells Fargo & Company increased their price objective on shares of J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Bank of America lowered their target price on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock 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 for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $128.00.

Hedge Funds Weigh In On J. M. Smucker

Several hedge funds have recently bought and sold shares of the company. State Street Corp boosted its position in J. M. Smucker by 12.0% during the third quarter. State Street Corp now owns 7,111,023 shares of the company’s stock worth $861,145,000 after acquiring an additional 762,746 shares during the last quarter. FMR LLC lifted its stake in shares of J. M. Smucker by 40.0% during the 3rd quarter. FMR LLC now owns 3,353,996 shares of the company’s stock worth $406,169,000 after purchasing an additional 958,142 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of J. M. Smucker by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,783,183 shares of the company’s stock worth $194,435,000 after purchasing an additional 135,158 shares during the last quarter. ProShare Advisors LLC increased its stake in J. M. Smucker by 14.4% in the second quarter. ProShare Advisors LLC now owns 1,526,074 shares of the company’s stock valued at $166,403,000 after purchasing an additional 192,075 shares during the last quarter. Finally, Ariel Investments LLC lifted its position in J. M. Smucker by 56.0% during the second quarter. Ariel Investments LLC now owns 1,354,999 shares of the company’s stock worth $147,749,000 after buying an additional 486,624 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Company 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.