Independent Advisor Alliance Has $618,000 Stake in The J. M. Smucker Company (NYSE:SJM)

Independent Advisor Alliance decreased its holdings in The J. M. Smucker Company (NYSE:SJM) by 5.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,104 shares of the company’s stock after selling 299 shares during the period. Independent Advisor Alliance’s holdings in J. M. Smucker were worth $618,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in SJM. Boston Partners acquired a new position in shares of J. M. Smucker in the 1st quarter valued at about $364,990,000. Bank of Montreal Can grew its stake in shares of J. M. Smucker by 186.3% in the 2nd quarter. Bank of Montreal Can now owns 805,029 shares of the company’s stock valued at $90,195,000 after buying an additional 523,803 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of J. M. Smucker by 891.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 579,903 shares of the company’s stock valued at $70,226,000 after buying an additional 521,404 shares in the last quarter. Ariel Investments LLC grew its stake in shares of J. M. Smucker by 56.0% in the 2nd quarter. Ariel Investments LLC now owns 1,354,999 shares of the company’s stock valued at $147,749,000 after buying an additional 486,624 shares in the last quarter. Finally, AMF Tjanstepension AB grew its stake in shares of J. M. Smucker by 123.2% in the 2nd quarter. AMF Tjanstepension AB now owns 425,048 shares of the company’s stock valued at $46,378,000 after buying an additional 234,619 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Stock Down 1.8 %

Shares of NYSE SJM opened at $117.97 on Thursday. The stock has a market cap of $12.55 billion, a PE ratio of 16.69, a PEG ratio of 3.19 and a beta of 0.25. The business has a fifty day moving average of $116.43 and a two-hundred day moving average of $115.59. The J. M. Smucker Company has a 52-week low of $105.69 and a 52-week high of $134.62. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.27. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the business earned $2.59 earnings per share. The business’s revenue was up 17.2% on a year-over-year basis. As a group, equities research analysts expect that The J. M. Smucker Company will post 9.79 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, December 2nd. Investors of record on Friday, November 15th will be issued a $1.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.66%. J. M. Smucker’s dividend payout ratio is 61.10%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company boosted their price target on J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday. Bank of America decreased their target price on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. TD Cowen decreased their target price on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Barclays decreased their target price on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $121.00 target price on shares of J. M. Smucker in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $127.55.

J. M. Smucker Profile

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.