Neo Ivy Capital Management Buys Shares of 9,182 The J. M. Smucker Company $SJM

Neo Ivy Capital Management bought a new stake in The J. M. Smucker Company (NYSE:SJM) during the 3rd quarter, Holdings Channel reports. The fund bought 9,182 shares of the company’s stock, valued at approximately $997,000.

Several other institutional investors also recently modified their holdings of the business. Wesbanco Bank Inc. increased its holdings in J. M. Smucker by 2.9% in the third quarter. Wesbanco Bank Inc. now owns 3,615 shares of the company’s stock valued at $393,000 after purchasing an additional 102 shares during the last quarter. Wedbush Securities Inc. lifted its stake in J. M. Smucker by 1.2% in the third quarter. Wedbush Securities Inc. now owns 8,861 shares of the company’s stock valued at $962,000 after buying an additional 106 shares during the period. Hantz Financial Services Inc. lifted its stake in J. M. Smucker by 5.1% in the third quarter. Hantz Financial Services Inc. now owns 2,437 shares of the company’s stock valued at $265,000 after buying an additional 118 shares during the period. Golden State Wealth Management LLC boosted its holdings in J. M. Smucker by 14.1% during the second quarter. Golden State Wealth Management LLC now owns 961 shares of the company’s stock worth $94,000 after buying an additional 119 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in J. M. Smucker by 9.7% during the third quarter. Smartleaf Asset Management LLC now owns 1,482 shares of the company’s stock worth $159,000 after buying an additional 131 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Stock Down 0.0%

Shares of J. M. Smucker stock opened at $111.30 on Friday. The company has a market capitalization of $11.87 billion, a P/E ratio of -9.44, a price-to-earnings-growth ratio of 4.63 and a beta of 0.22. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.84 and a quick ratio of 0.35. The business has a 50-day moving average of $105.49 and a two-hundred day moving average of $105.42. The J. M. Smucker Company has a 1 year low of $93.30 and a 1 year high of $121.48.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Thursday, February 26th. The company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.11. J. M. Smucker had a positive return on equity of 15.94% and a negative net margin of 14.07%.The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the business posted $2.61 EPS. J. M. Smucker’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were paid a $1.10 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $4.40 dividend on an annualized basis and a yield of 4.0%. J. M. Smucker’s payout ratio is presently -37.32%.

Analyst Ratings Changes

A number of brokerages have recently commented on SJM. Bank of America raised J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 price target for the company in a research note on Monday, February 23rd. JPMorgan Chase & Co. lifted their price objective on shares of J. M. Smucker from $121.00 to $122.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Morgan Stanley restated an “equal weight” rating and set a $105.00 price objective (down from $115.00) on shares of J. M. Smucker in a report on Friday, January 16th. Sanford C. Bernstein upped their target price on shares of J. M. Smucker from $113.00 to $121.00 and gave the company a “market perform” rating in a research note on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of J. M. Smucker in a report on Wednesday, January 21st. Eight investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $119.43.

About J. M. Smucker

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.