SPC Financial Inc. Acquires New Position in The J. M. Smucker Company (NYSE:SJM)

SPC Financial Inc. bought a new position in shares of The J. M. Smucker Company (NYSE:SJM) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,920 shares of the company’s stock, valued at approximately $233,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Studio Investment Management LLC acquired a new stake in shares of J. M. Smucker in the second quarter valued at $26,000. Quarry LP boosted its stake in shares of J. M. Smucker by 212.6% in the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after buying an additional 219 shares during the period. Rothschild Investment LLC acquired a new position in shares of J. M. Smucker during the second quarter worth about $42,000. Trivant Custom Portfolio Group LLC purchased a new stake in shares of J. M. Smucker during the third quarter worth approximately $42,000. Finally, Central Valley Advisors LLC acquired a new stake in J. M. Smucker in the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SJM. TD Cowen dropped their price objective on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Barclays cut their price target on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Friday, August 30th. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. Finally, Wells Fargo & Company lowered their price target on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $127.25.

J. M. Smucker Price Performance

Shares of SJM opened at $121.28 on Friday. The company has a market capitalization of $12.88 billion, a price-to-earnings ratio of 17.03, a price-to-earnings-growth ratio of 3.13 and a beta of 0.24. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $134.62. The firm has a 50-day simple moving average of $119.03 and a 200-day simple moving average of $115.66. 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 announced its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.17 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 $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the business posted $2.21 EPS. The company’s revenue was up 17.7% on a year-over-year basis. On average, equities research analysts anticipate that The J. M. Smucker Company will post 9.82 earnings per share for the current year.

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.