Handelsbanken Fonder AB Grows Position in The J. M. Smucker Company $SJM

Handelsbanken Fonder AB grew its holdings in The J. M. Smucker Company (NYSE:SJM) by 37.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,700 shares of the company’s stock after purchasing an additional 9,100 shares during the period. Handelsbanken Fonder AB’s holdings in J. M. Smucker were worth $3,660,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. AlphaQuest LLC purchased a new position in shares of J. M. Smucker in the second quarter valued at $26,000. CYBER HORNET ETFs LLC bought a new stake in shares of J. M. Smucker during the second quarter valued at about $27,000. Elevation Point Wealth Partners LLC bought a new stake in shares of J. M. Smucker during the second quarter valued at about $28,000. Root Financial Partners LLC bought a new position in shares of J. M. Smucker in the third quarter valued at approximately $29,000. Finally, MUFG Securities EMEA plc purchased a new position in J. M. Smucker during the second quarter valued at approximately $31,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

J. M. Smucker Trading Down 1.9%

Shares of SJM opened at $112.54 on Wednesday. The J. M. Smucker Company has a fifty-two week low of $93.30 and a fifty-two week high of $121.48. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of -9.55, a PEG ratio of 4.78 and a beta of 0.22. The firm has a 50 day moving average price of $104.71 and a 200-day moving average price of $105.37. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.35 and a current ratio of 0.84.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Thursday, February 26th. The company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.11. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.32 billion. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.61 EPS. As a group, equities research analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, February 13th. J. M. Smucker’s payout ratio is -37.32%.

Analysts Set New Price Targets

SJM has been the subject of several analyst reports. Bank of America raised shares of J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 price target for the company in a report on Monday, February 23rd. Stifel Nicolaus decreased their target price on J. M. Smucker from $115.00 to $110.00 and set a “hold” rating on the stock in a research note on Wednesday, November 26th. Barclays raised their price target on J. M. Smucker from $105.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday. Wall Street Zen raised shares of J. M. Smucker from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Wells Fargo & Company boosted their price target on shares of J. M. Smucker from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Eight research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $119.43.

J. M. Smucker Profile

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company’s main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker’s core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker’s® fruit spreads, Jif® peanut butter, Folgers® and Dunkin’® coffees, and Café Bustelo® coffee.