Geode Capital Management LLC Sells 113,715 Shares of The J. M. Smucker Company (NYSE:SJM)

Geode Capital Management LLC lessened its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 4.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,551,721 shares of the company’s stock after selling 113,715 shares during the period. Geode Capital Management LLC’s holdings in J. M. Smucker were worth $307,978,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of SJM. FMR LLC raised its position in shares of J. M. Smucker by 40.0% during the 3rd quarter. FMR LLC now owns 3,353,996 shares of the company’s stock valued at $406,169,000 after purchasing an additional 958,142 shares during the period. State Street Corp raised its holdings in J. M. Smucker by 12.0% during the third quarter. State Street Corp now owns 7,111,023 shares of the company’s stock valued at $861,145,000 after acquiring an additional 762,746 shares during the period. Bank of Montreal Can lifted its position in shares of J. M. Smucker by 186.3% in the second quarter. Bank of Montreal Can now owns 805,029 shares of the company’s stock valued at $90,195,000 after acquiring an additional 523,803 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of J. M. Smucker by 891.3% in the third quarter. Thrivent Financial for Lutherans now owns 579,903 shares of the company’s stock valued at $70,226,000 after acquiring an additional 521,404 shares in the last quarter. Finally, Ariel Investments LLC boosted its stake in shares of J. M. Smucker by 56.0% in the second quarter. Ariel Investments LLC now owns 1,354,999 shares of the company’s stock worth $147,749,000 after acquiring an additional 486,624 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

Shares of NYSE:SJM opened at $113.53 on Friday. The firm has a fifty day simple moving average of $115.68 and a two-hundred day simple moving average of $115.90. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $12.08 billion, a P/E ratio of 22.98, a PEG ratio of 3.46 and a beta of 0.26. The J. M. Smucker Company 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 EPS for the quarter, topping the consensus estimate of $2.51 by $0.25. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The company 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 posted $2.59 earnings per share. The firm’s revenue was up 17.2% on a year-over-year basis. On average, analysts expect that The J. M. Smucker Company will post 9.89 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were issued a dividend of $1.08 per share. The ex-dividend date was Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 3.81%. J. M. Smucker’s payout ratio is presently 87.45%.

Analyst Ratings Changes

A number of research firms recently commented on SJM. DA Davidson reissued a “neutral” rating and issued a $121.00 price target on shares of J. M. Smucker 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. Barclays cut their target price on shares of J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 4th. Bank of America reduced their price target on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, Citigroup dropped their price objective on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $128.56.

J. M. Smucker Company 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.