Neo Ivy Capital Management Purchases New Holdings in The J. M. Smucker Company $SJM

Key Points

• Neo Ivy Capital Management purchased a new stake of 9,182 shares (~$997,000) in The J. M. Smucker Company in Q3, and institutional investors now own about 81.66% of the stock.
• Smucker reported an EPS beat ( $2.38 vs. $2.27 expected) and revenue of $2.34 billion, representing roughly a 7% year‑over‑year revenue increase for the quarter.
• The company pays a quarterly dividend of $1.10 (annualized yield ~4.0%), and analysts have a consensus "Hold" rating with an average price target of about $119.43.

Neo Ivy Capital Management purchased a new stake in The J. M. Smucker Company (NYSE:SJM - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,182 shares of the company's stock, valued at approximately $997,000.

A number of other hedge funds also recently modified their holdings of SJM. Wesbanco Bank Inc. boosted its position in J. M. Smucker by 2.9% in the third quarter. Wesbanco Bank Inc. now owns 3,615 shares of the company's stock valued at $393,000 after buying an additional 102 shares in the last quarter. Wedbush Securities Inc. increased its holdings in shares of J. M. Smucker by 1.2% during the third quarter. Wedbush Securities Inc. now owns 8,861 shares of the company's stock worth $962,000 after buying an additional 106 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of J. M. Smucker by 5.1% during the third quarter. Hantz Financial Services Inc. now owns 2,437 shares of the company's stock worth $265,000 after buying an additional 118 shares in the last quarter. Golden State Wealth Management LLC raised its stake in shares of J. M. Smucker by 14.1% in the second quarter. Golden State Wealth Management LLC now owns 961 shares of the company's stock valued at $94,000 after acquiring an additional 119 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of J. M. Smucker by 9.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,482 shares of the company's stock worth $159,000 after acquiring an additional 131 shares in the last quarter. Institutional investors own 81.66% of the company's stock.

J. M. Smucker Stock Performance

Shares of J. M. Smucker stock opened at $111.30 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.84 and a quick ratio of 0.35. The firm has a 50 day simple moving average of $105.49 and a 200 day simple moving average of $105.42. The J. M. Smucker Company has a fifty-two week low of $93.30 and a fifty-two week high of $121.48. The firm has a market cap of $11.87 billion, a P/E ratio of -9.44, a P/E/G ratio of 4.63 and a beta of 0.22.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted 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 firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.32 billion. J. M. Smucker had a positive return on equity of 15.94% and a negative net margin of 14.07%.The business's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.61 EPS. Sell-side analysts predict that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, February 13th. J. M. Smucker's dividend payout ratio is -37.32%.

Analysts Set New Price Targets

A number of research firms recently commented on SJM. Sanford C. Bernstein increased their price target on J. M. Smucker from $113.00 to $121.00 and gave the stock a "market perform" rating in a research report on Friday, February 27th. Canaccord Genuity Group raised J. M. Smucker to a "buy" rating in a research note on Friday, January 16th. Morgan Stanley restated an "equal weight" rating and set a $105.00 target price (down from $115.00) on shares of J. M. Smucker in a report on Friday, January 16th. Stifel Nicolaus lowered their target price on J. M. Smucker from $115.00 to $110.00 and set a "hold" rating for the company in a research note on Wednesday, November 26th. Finally, Barclays lifted their price target on J. M. Smucker from $105.00 to $125.00 and gave the company an "equal weight" rating in a report on Monday, March 2nd. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $119.43.

J. M. Smucker Profile

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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