Harbour Investments Inc. Has $1.08 Million Stock Position in The J. M. Smucker Company (NYSE:SJM)

Harbour Investments Inc. boosted its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 175.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,883 shares of the company’s stock after buying an additional 5,659 shares during the period. Harbour Investments Inc.’s holdings in J. M. Smucker were worth $1,076,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in J. M. Smucker by 6,703.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 159,873 shares of the company’s stock worth $17,433,000 after buying an additional 157,523 shares during the period. Cetera Investment Advisers raised its holdings in J. M. Smucker by 62.0% during the 1st quarter. Cetera Investment Advisers now owns 24,174 shares of the company’s stock worth $3,043,000 after buying an additional 9,250 shares during the period. Swedbank AB raised its holdings in shares of J. M. Smucker by 14.1% in the second quarter. Swedbank AB now owns 127,618 shares of the company’s stock valued at $13,915,000 after purchasing an additional 15,792 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of J. M. Smucker by 25.7% in the first quarter. Westwood Holdings Group Inc. now owns 56,816 shares of the company’s stock valued at $7,151,000 after purchasing an additional 11,622 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its holdings in shares of J. M. Smucker by 553.9% in the first quarter. UniSuper Management Pty Ltd now owns 8,874 shares of the company’s stock valued at $1,117,000 after purchasing an additional 7,517 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on SJM shares. Citigroup reduced their target price on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Wells Fargo & Company reduced their target price on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. TD Cowen reduced their target price 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. Barclays cut their price target on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. Finally, StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $127.09.

J. M. Smucker Price Performance

Shares of NYSE:SJM opened at $110.74 on Friday. The firm has a market capitalization of $11.78 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 3.20 and a beta of 0.25. The stock’s 50 day moving average is $117.52 and its 200-day moving average is $115.61. The J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $134.62. 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 released its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.27. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. J. M. Smucker’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.21 EPS. Sell-side analysts forecast that The J. M. Smucker Company will post 9.8 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s payout ratio is currently 61.10%.

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.