Cobblestone Capital Advisors LLC NY Takes Position in The J. M. Smucker Company (NYSE:SJM)

Cobblestone Capital Advisors LLC NY acquired a new position in The J. M. Smucker Company (NYSE:SJM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,785 shares of the company’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its position in J. M. Smucker by 40.0% in the third quarter. FMR LLC now owns 3,353,996 shares of the company’s stock worth $406,169,000 after acquiring an additional 958,142 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of J. M. Smucker by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,783,183 shares of the company’s stock valued at $194,435,000 after purchasing an additional 135,158 shares during the last quarter. ProShare Advisors LLC boosted its holdings 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 worth $166,403,000 after purchasing an additional 192,075 shares in the last quarter. Ariel Investments LLC increased 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 last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in J. M. Smucker by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 990,632 shares of the company’s stock valued at $119,966,000 after buying an additional 13,276 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Price Performance

NYSE:SJM opened at $117.79 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27. The company has a fifty day moving average price of $116.34 and a 200 day moving average price of $115.64. The J. M. Smucker Company has a one year low of $105.69 and a one year high of $134.62. The stock has a market cap of $12.54 billion, a P/E ratio of 23.84, a PEG ratio of 3.32 and a beta of 0.26.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.49 by $0.27. The firm had revenue of $2.27 billion during 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%. J. M. Smucker’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period last year, the business earned $2.59 earnings per share. Analysts anticipate that The J. M. Smucker Company will post 9.87 earnings per share for the current year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 annualized dividend and a dividend yield of 3.67%. J. M. Smucker’s dividend payout ratio is currently 87.45%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SJM. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. DA Davidson reissued a “neutral” rating and issued a $121.00 price target on shares of J. M. Smucker in a research report on Thursday, August 29th. Barclays boosted their price objective on shares of J. M. Smucker from $121.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Bank of America lowered their target price on shares of 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $128.00.

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.