Chevy Chase Trust Holdings LLC Sells 931 Shares of The J. M. Smucker Company (NYSE:SJM)

Chevy Chase Trust Holdings LLC trimmed its position in shares of The J. M. Smucker Company (NYSE:SJM) by 1.6% during the third quarter, HoldingsChannel reports. The firm owned 58,096 shares of the company’s stock after selling 931 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in J. M. Smucker were worth $7,035,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SJM. Benjamin Edwards Inc. lifted its holdings in J. M. Smucker by 61,571.4% during the third quarter. Benjamin Edwards Inc. now owns 21,585 shares of the company’s stock worth $2,614,000 after acquiring an additional 21,550 shares in the last quarter. Cobblestone Capital Advisors LLC NY acquired a new stake in shares of J. M. Smucker during the third quarter worth about $216,000. Verition Fund Management LLC lifted its holdings in shares of J. M. Smucker by 35.7% during the 3rd quarter. Verition Fund Management LLC now owns 176,348 shares of the company’s stock valued at $21,356,000 after purchasing an additional 46,433 shares in the last quarter. Captrust Financial Advisors grew its position in shares of J. M. Smucker by 0.5% in the 3rd quarter. Captrust Financial Advisors now owns 57,006 shares of the company’s stock valued at $6,903,000 after purchasing an additional 308 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in J. M. Smucker by 14.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,618 shares of the company’s stock worth $559,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Stifel Nicolaus lowered shares of 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. TD Cowen reduced their target price on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Bank of America dropped their price target on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company lifted their target price 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. One 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $127.73.

J. M. Smucker Stock Up 1.1 %

NYSE:SJM opened at $116.69 on Friday. The J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $134.62. The firm has a market capitalization of $12.42 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 3.29 and a beta of 0.26. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The stock’s 50 day moving average price is $116.30 and its two-hundred day moving average price is $115.69.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. The business had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.59 earnings per share. Equities research analysts expect that The J. M. Smucker Company will post 9.9 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were paid a $1.08 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 3.70%. J. M. Smucker’s dividend payout ratio (DPR) is currently 87.45%.

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.