Toronto Dominion Bank Sells 7,042 Shares of The J. M. Smucker Company (NYSE:SJM)

Toronto Dominion Bank trimmed its position in shares of The J. M. Smucker Company (NYSE:SJM) by 13.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 44,757 shares of the company’s stock after selling 7,042 shares during the quarter. Toronto Dominion Bank’s holdings in J. M. Smucker were worth $5,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Studio Investment Management LLC purchased a new stake in J. M. Smucker during the second quarter valued at $26,000. Venturi Wealth Management LLC grew its stake in shares of J. M. Smucker by 1,329.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after purchasing an additional 226 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in shares of J. M. Smucker during the 3rd quarter valued at about $39,000. Quarry LP lifted 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 worth $35,000 after purchasing an additional 219 shares during the period. Finally, Eastern Bank purchased a new position in shares of J. M. Smucker in the third quarter worth approximately $40,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on SJM shares. Bank of America reduced their target price on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Citigroup decreased their target price on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. 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 report on Wednesday, November 27th. Stifel Nicolaus downgraded J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $135.00 to $125.00 in a research note on Friday, October 25th. Finally, BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $128.56.

J. M. Smucker Stock Performance

NYSE:SJM opened at $113.53 on Friday. The stock has a 50-day moving average price of $115.68 and a 200 day moving average price of $115.90. The stock has a market capitalization of $12.08 billion, a P/E ratio of 22.98, a P/E/G ratio of 3.46 and a beta of 0.26. The J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $134.62. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.25. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.27 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.59 EPS. Equities research analysts forecast that The J. M. Smucker Company will post 9.89 EPS 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. Shareholders of record on Friday, November 15th were paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.81%. The ex-dividend date was Friday, November 15th. J. M. Smucker’s payout ratio is currently 87.45%.

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.