Cibc World Market Inc. Acquires 622 Shares of The J. M. Smucker Company (NYSE:SJM)

by · The Markets Daily

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Cibc World Market Inc. increased its holdings in shares of The J. M. Smucker Company (NYSE:SJM – Free Report) by 12.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,618 shares of the company’s stock after acquiring an additional 622 shares during the quarter. Cibc World Market Inc.’s holdings in J. M. Smucker were worth $830,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SJM. Eagle Bay Advisors LLC bought a new position in J. M. Smucker during the second quarter worth about $27,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in J. M. Smucker by 142.9% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 187 shares of the company’s stock worth $28,000 after acquiring an additional 110 shares during the period. Duncker Streett & Co. Inc. bought a new position in J. M. Smucker during the second quarter worth about $30,000. Clear Street Markets LLC increased its position in J. M. Smucker by 97.2% during the first quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock worth $33,000 after acquiring an additional 104 shares during the period. Finally, Sunbelt Securities Inc. bought a new position in J. M. Smucker in the 1st quarter valued at about $33,000. 79.08% of the stock is owned by institutional investors.

J. M. Smucker Stock Up 3.3 %

NYSE:SJM opened at $116.12 on Wednesday. The firm’s 50 day simple moving average is $113.69 and its 200 day simple moving average is $134.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.28 and a quick ratio of 0.72. The J. M. Smucker Company has a one year low of $107.33 and a one year high of $163.07. The company has a market cap of $11.86 billion, a PE ratio of -683.06, a P/E/G ratio of 2.13 and a beta of 0.30.

J. M. Smucker (NYSE:SJM – Get Free Report) last posted its earnings results on Tuesday, December 5th. The company reported $2.59 EPS for the quarter, topping the consensus estimate of $2.47 by $0.12. J. M. Smucker had a negative net margin of 0.21% and a positive return on equity of 12.96%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company earned $2.40 EPS. The firm’s revenue was down 12.1% compared to the same quarter last year. On average, research analysts anticipate that The J. M. Smucker Company will post 9.62 earnings per share for the current year.

J. M. Smucker Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were given a dividend of $1.06 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $4.24 annualized dividend and a yield of 3.65%. J. M. Smucker’s dividend payout ratio is presently -2,494.12%.

Wall Street Analysts Forecast Growth

SJM has been the topic of several recent analyst reports. TD Cowen initiated coverage on shares of J. M. Smucker in a report on Wednesday, September 13th. They issued an “outperform” rating and a $158.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on shares of J. M. Smucker from $153.00 to $137.00 and set a “neutral” rating on the stock in a report on Tuesday, September 12th. Consumer Edge raised shares of J. M. Smucker from an “underweight” rating to an “equal weight” rating and set a $154.00 target price on the stock in a report on Friday, September 1st. Stifel Nicolaus decreased their target price on shares of J. M. Smucker from $160.00 to $150.00 and set a “hold” rating on the stock in a report on Wednesday, August 30th. Finally, The Goldman Sachs Group raised their target price on shares of J. M. Smucker from $129.00 to $130.00 in a report on Tuesday, August 29th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $144.38.

View Our Latest Stock Analysis on J. M. Smucker

J. M. Smucker Profile

(Free Report)

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.

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