First Trust Advisors LP Has $56.94 Million Position in The J. M. Smucker Company $SJM

Key Points

• First Trust Advisors LP trimmed its stake in J.M. Smucker by 3.9% in Q3, selling 21,144 shares and now holding 524,349 shares worth $56.94 million; institutional investors collectively own 81.66% of the company.
• Smucker beat quarterly estimates with EPS $2.38 (vs. $2.27 expected) and revenue of $2.34B, but the company reported a negative net margin of 14.07% and a negative trailing PE ratio (−9.21).
• The company pays a quarterly dividend of $1.10 (annualized $4.40, yield 4.1%), and analysts show a consensus "Hold" rating with an average price target of $119.43, though some firms (e.g., Wells Fargo) have raised targets as high as $135.

First Trust Advisors LP reduced its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 524,349 shares of the company's stock after selling 21,144 shares during the period. First Trust Advisors LP owned 0.49% of J. M. Smucker worth $56,944,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in J. M. Smucker by 10.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,440 shares of the company's stock worth $2,286,000 after purchasing an additional 1,763 shares during the last quarter. United Services Automobile Association bought a new position in J. M. Smucker during the first quarter valued at approximately $253,000. Empowered Funds LLC increased its stake in shares of J. M. Smucker by 28.6% during the 1st quarter. Empowered Funds LLC now owns 12,992 shares of the company's stock worth $1,538,000 after purchasing an additional 2,889 shares during the last quarter. Woodline Partners LP lifted its stake in shares of J. M. Smucker by 40.7% in the 1st quarter. Woodline Partners LP now owns 8,990 shares of the company's stock valued at $1,065,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in J. M. Smucker by 182.4% in the second quarter. Assetmark Inc. now owns 641 shares of the company's stock worth $63,000 after purchasing an additional 414 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

J. M. Smucker Stock Down 0.3%

Shares of SJM stock opened at $108.63 on Wednesday. The J. M. Smucker Company has a 12 month low of $93.30 and a 12 month high of $120.76. The company has a quick ratio of 0.35, a current ratio of 0.84 and a debt-to-equity ratio of 1.31. The firm has a market cap of $11.59 billion, a PE ratio of -9.21, a price-to-earnings-growth ratio of 4.54 and a beta of 0.22. The stock has a 50 day moving average of $105.89 and a 200-day moving average of $105.31.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.11. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.32 billion. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. J. M. Smucker's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $2.61 earnings per share. On average, equities analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.1%. J. M. Smucker's dividend payout ratio is currently -37.32%.

Analysts Set New Price Targets

A number of brokerages have weighed in on SJM. Wells Fargo & Company boosted their price target on J. M. Smucker from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, February 27th. Morgan Stanley restated an "equal weight" rating and issued a $105.00 target price (down from $115.00) on shares of J. M. Smucker in a report on Friday, January 16th. TD Cowen lifted their price target on shares of J. M. Smucker from $105.00 to $112.00 and gave the company a "hold" rating in a research report on Friday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of J. M. Smucker from $121.00 to $122.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. Finally, Sanford C. Bernstein lifted their target price on shares of J. M. Smucker from $113.00 to $121.00 and gave the stock a "market perform" rating in a report on Friday, February 27th. Eight research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $119.43.

About J. M. Smucker

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company's main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker's core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker's® fruit spreads, Jif® peanut butter, Folgers® and Dunkin'® coffees, and Café Bustelo® coffee.

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