Huber Capital Management LLC Cuts Stake in The J. M. Smucker Company $SJM

Key Points

• Huber Capital Management LLC cut its stake by 44.7% in The J. M. Smucker Company in Q3, selling 78,100 shares and leaving 96,800 shares (about $10.51M), while other institutions added or opened positions so that roughly 81.66% of the stock is institutionally owned.
• Smucker beat quarterly estimates with $2.38 EPS (vs. $2.27 est.) and $2.34B revenue (up 7% YoY) but still shows a negative net margin and a negative P/E (-9.09); analysts are mixed with an average "Hold" rating and a $121.14 target, and the stock yields about 4.1%.

Huber Capital Management LLC lessened its holdings in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 44.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,800 shares of the company's stock after selling 78,100 shares during the quarter. J. M. Smucker comprises 1.7% of Huber Capital Management LLC's portfolio, making the stock its 20th biggest holding. Huber Capital Management LLC owned 0.09% of J. M. Smucker worth $10,512,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC increased its stake in J. M. Smucker by 150.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 57,999 shares of the company's stock worth $6,299,000 after acquiring an additional 34,800 shares during the last quarter. ProShare Advisors LLC increased its position in J. M. Smucker by 13.8% during the third quarter. ProShare Advisors LLC now owns 1,562,259 shares of the company's stock valued at $169,661,000 after acquiring an additional 188,868 shares during the last quarter. Ethic Inc. lifted its holdings in shares of J. M. Smucker by 28.8% in the 3rd quarter. Ethic Inc. now owns 54,860 shares of the company's stock worth $5,958,000 after acquiring an additional 12,279 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of J. M. Smucker during the 3rd quarter worth about $4,476,000. Finally, Thompson Investment Management Inc. bought a new stake in shares of J. M. Smucker in the third quarter valued at about $5,464,000. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SJM has been the topic of several research reports. UBS Group cut their target price on J. M. Smucker from $120.00 to $117.00 and set a "buy" rating on the stock in a research report on Wednesday, November 26th. JPMorgan Chase & Co. lifted their price objective on shares of J. M. Smucker from $121.00 to $122.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. Canaccord Genuity Group upgraded shares of J. M. Smucker to a "buy" rating in a research note on Friday, January 16th. Stifel Nicolaus reduced their target price on shares of J. M. Smucker from $115.00 to $110.00 and set a "hold" rating for the company in a report on Wednesday, November 26th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $105.00 price target (down from $115.00) on shares of J. M. Smucker in a report on Friday, January 16th. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $121.14.

J. M. Smucker Price Performance

Shares of NYSE:SJM traded up $0.87 during midday trading on Friday, hitting $106.87. The company's stock had a trading volume of 61,620 shares, compared to its average volume of 2,053,921. 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 market cap of $11.40 billion, a P/E ratio of -9.09, a price-to-earnings-growth ratio of 4.48 and a beta of 0.22. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.35 and a current ratio of 0.84. The business's 50 day simple moving average is $106.25 and its 200 day simple moving average is $105.33.

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

J. M. Smucker Dividend Announcement

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

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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