The J. M. Smucker Company (NYSE:SJM) Short Interest Up 24.3% in November

The J. M. Smucker Company (NYSE:SJM) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 4,240,000 shares, a growth of 24.3% from the October 31st total of 3,410,000 shares. Based on an average daily volume of 1,070,000 shares, the short-interest ratio is currently 4.0 days. Currently, 4.1% of the shares of the company are sold short.

J. M. Smucker Trading Up 1.5 %

Shares of SJM traded up $1.82 during mid-day trading on Monday, reaching $119.61. 1,363,757 shares of the company were exchanged, compared to its average volume of 1,179,396. The business has a 50 day simple moving average of $116.34 and a two-hundred day simple moving average of $115.65. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58. The stock has a market capitalization of $12.73 billion, a PE ratio of 23.79, a PEG ratio of 3.32 and a beta of 0.26. J. M. Smucker has a 52 week low of $105.69 and a 52 week high of $134.62.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.27. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the business earned $2.59 EPS. The company’s revenue was up 17.2% compared to the same quarter last year. On average, analysts predict that J. M. Smucker will post 9.87 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s dividend payout ratio (DPR) is presently 87.45%.

Analysts Set New Price Targets

Several research firms have commented on SJM. Stifel Nicolaus downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price objective for the company from $135.00 to $125.00 in a report on Friday, October 25th. Barclays increased their price objective on J. M. Smucker from $121.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Friday. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. Finally, Bank of America dropped their price objective 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $128.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Studio Investment Management LLC acquired a new stake in J. M. Smucker in the second quarter worth $26,000. Venturi Wealth Management LLC grew its stake in shares of J. M. Smucker by 1,329.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after buying an additional 226 shares during the period. Catalyst Capital Advisors LLC bought a new stake in J. M. Smucker in the 3rd quarter valued at about $39,000. Quarry LP raised its stake in J. M. Smucker by 212.6% during the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after buying an additional 219 shares during the period. Finally, Eastern Bank bought a new position in J. M. Smucker in the third quarter worth approximately $40,000. 81.66% of the stock is owned by institutional investors and hedge funds.

About J. M. Smucker

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.