Gabelli Funds LLC Trims Position in The J. M. Smucker Company $SJM

Gabelli Funds LLC cut its position in shares of The J. M. Smucker Company (NYSE:SJM) by 7.7% during the 4th quarter, HoldingsChannel reports. The firm owned 128,050 shares of the company’s stock after selling 10,700 shares during the period. Gabelli Funds LLC’s holdings in J. M. Smucker were worth $12,525,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SJM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of J. M. Smucker by 10.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,440 shares of the company’s stock valued at $2,286,000 after purchasing an additional 1,763 shares in the last quarter. United Services Automobile Association bought a new stake in shares of J. M. Smucker during the first quarter valued at approximately $253,000. Empowered Funds LLC boosted its position in shares of J. M. Smucker by 28.6% during the first quarter. Empowered Funds LLC now owns 12,992 shares of the company’s stock valued at $1,538,000 after purchasing an additional 2,889 shares in the last quarter. Woodline Partners LP boosted its position in shares of J. M. Smucker by 40.7% during the first quarter. Woodline Partners LP now owns 8,990 shares of the company’s stock valued at $1,065,000 after purchasing an additional 2,600 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of J. M. Smucker by 6.7% during the second quarter. American Century Companies Inc. now owns 2,209 shares of the company’s stock valued at $217,000 after purchasing an additional 138 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Trading Down 0.6%

J. M. Smucker stock opened at $102.98 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.35 and a debt-to-equity ratio of 1.31. The business’s fifty day simple moving average is $98.04 and its two-hundred day simple moving average is $102.08. The J. M. Smucker Company has a 12 month low of $88.25 and a 12 month high of $119.39. The company has a market capitalization of $10.98 billion, a price-to-earnings ratio of -8.73, a price-to-earnings-growth ratio of 4.93 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last released its earnings results on Thursday, February 26th. The company reported $2.38 EPS for the quarter, topping 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 the consensus estimate of $2.32 billion. During the same period in the previous year, the company posted $2.61 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities analysts predict that The J. M. Smucker Company will post 9.04 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be paid a $1.10 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.40 annualized dividend and a dividend yield of 4.3%. J. M. Smucker’s payout ratio is currently -37.32%.

Analysts Set New Price Targets

Several research firms recently weighed in on SJM. Wells Fargo & Company dropped their price target on J. M. Smucker from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Morgan Stanley dropped their price target on J. M. Smucker from $118.00 to $104.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on J. M. Smucker from $117.00 to $97.00 and set a “hold” rating on the stock in a report on Monday, March 30th. Weiss Ratings reissued a “sell (d)” rating on shares of J. M. Smucker in a report on Monday, April 20th. Finally, BTIG Research assumed coverage on J. M. Smucker in a report on Monday, April 13th. They issued a “buy” rating and a $120.00 target price on the stock. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $116.47.

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.