Meyer Handelman Co. Grows Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Meyer Handelman Co. raised its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 42.0% in the 4th quarter, Holdings Channel reports. The fund owned 6,363 shares of the company’s stock after acquiring an additional 1,881 shares during the quarter. Meyer Handelman Co.’s holdings in J. M. Smucker were worth $701,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its holdings in shares of J. M. Smucker by 342.8% during the second quarter. Acadian Asset Management LLC now owns 4,468 shares of the company’s stock worth $485,000 after purchasing an additional 3,459 shares during the period. Quest Partners LLC raised its position in J. M. Smucker by 2,347.1% during the 2nd quarter. Quest Partners LLC now owns 416 shares of the company’s stock worth $45,000 after buying an additional 399 shares during the last quarter. Choreo LLC acquired a new stake in shares of J. M. Smucker in the 2nd quarter worth $241,000. Envestnet Asset Management Inc. lifted its stake in shares of J. M. Smucker by 5.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 50,742 shares of the company’s stock worth $5,533,000 after acquiring an additional 2,411 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of J. M. Smucker by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,783,183 shares of the company’s stock valued at $194,435,000 after acquiring an additional 135,158 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SJM. Barclays reduced their price objective on shares of J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 4th. StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. TD Cowen lowered J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $130.00 to $121.00 in a report on Wednesday, January 8th. Wells Fargo & Company raised their target price on J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Finally, Stifel Nicolaus cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and lowered their price target for the stock from $135.00 to $125.00 in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, J. M. Smucker currently has an average rating of “Hold” and a consensus price target of $127.33.

J. M. Smucker Stock Performance

Shares of SJM opened at $102.02 on Wednesday. The J. M. Smucker Company has a 1 year low of $100.77 and a 1 year high of $134.62. The company’s 50 day simple moving average is $112.41 and its 200 day simple moving average is $115.69. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 3.46 and a beta of 0.28. 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 (NYSE:SJM) last posted its quarterly earnings data on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.25. 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% on a year-over-year basis. During the same quarter last year, the firm earned $2.59 earnings per share. On average, sell-side analysts predict that The J. M. Smucker Company will post 9.89 EPS for the current year.

J. M. Smucker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were issued a dividend of $1.08 per share. The ex-dividend date was Friday, November 15th. This represents a $4.32 annualized dividend and a dividend yield of 4.23%. J. M. Smucker’s payout ratio is currently 87.45%.

Insider Buying and Selling

In other news, CFO Tucker H. Marshall sold 994 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $113.00, for a total transaction of $112,322.00. Following the completion of the sale, the chief financial officer now directly owns 18,734 shares of the company’s stock, valued at $2,116,942. The trade was a 5.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.40% of the company’s stock.

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.