MetLife Investment Management LLC Has $3.34 Million Stake in The J. M. Smucker Company (NYSE:SJM)

MetLife Investment Management LLC trimmed its stake in The J. M. Smucker Company (NYSE:SJM) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,617 shares of the company’s stock after selling 648 shares during the period. MetLife Investment Management LLC’s holdings in J. M. Smucker were worth $3,344,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC increased its holdings in J. M. Smucker by 40.0% in the third quarter. FMR LLC now owns 3,353,996 shares of the company’s stock valued at $406,169,000 after purchasing an additional 958,142 shares during the period. Dimensional Fund Advisors LP grew its holdings in J. M. Smucker by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,783,183 shares of the company’s stock worth $194,435,000 after acquiring an additional 135,158 shares during the period. ProShare Advisors LLC grew its holdings in J. M. Smucker by 14.4% during the 2nd quarter. ProShare Advisors LLC now owns 1,526,074 shares of the company’s stock worth $166,403,000 after acquiring an additional 192,075 shares during the period. Ariel Investments LLC grew its holdings in J. M. Smucker by 56.0% during the 2nd quarter. Ariel Investments LLC now owns 1,354,999 shares of the company’s stock worth $147,749,000 after acquiring an additional 486,624 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in J. M. Smucker by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 990,632 shares of the company’s stock worth $119,966,000 after acquiring an additional 13,276 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SJM shares. Barclays increased their price target on J. M. Smucker from $121.00 to $126.00 and gave the stock an “equal weight” rating in a report on Friday, November 29th. Stifel Nicolaus cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and cut their price objective for the stock from $135.00 to $125.00 in a research report on Friday, October 25th. TD Cowen cut their price objective on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Citigroup cut their price objective on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, Bank of America cut their price objective on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, J. M. Smucker has a consensus rating of “Hold” and an average price target of $128.00.

J. M. Smucker Trading Down 1.9 %

NYSE:SJM opened at $117.31 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58. The firm has a market cap of $12.48 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 3.37 and a beta of 0.26. The J. M. Smucker Company has a 52 week low of $105.69 and a 52 week high of $134.62. The firm has a 50-day moving average price of $116.35 and a two-hundred day moving average price of $115.67.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, beating the consensus estimate of $2.51 by $0.25. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the business posted $2.59 EPS. On average, equities analysts expect that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently disclosed 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 was Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a yield of 3.68%. J. M. Smucker’s dividend payout ratio is 87.45%.

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.