Hourglass Capital LLC Purchases 2,820 Shares of The J. M. Smucker Company (NYSE:SJM)

Hourglass Capital LLC lifted its position in shares of The J. M. Smucker Company (NYSE:SJM) by 10.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,680 shares of the company’s stock after acquiring an additional 2,820 shares during the period. Hourglass Capital LLC’s holdings in J. M. Smucker were worth $3,473,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Boston Partners acquired a new position in J. M. Smucker during the 1st quarter worth approximately $364,990,000. Bank of Montreal Can increased its position in J. M. Smucker by 186.3% during the 2nd quarter. Bank of Montreal Can now owns 805,029 shares of the company’s stock worth $90,195,000 after purchasing an additional 523,803 shares in the last quarter. Ariel Investments LLC increased its position in J. M. Smucker by 56.0% during the 2nd quarter. Ariel Investments LLC now owns 1,354,999 shares of the company’s stock worth $147,749,000 after purchasing an additional 486,624 shares in the last quarter. Ilex Capital Partners UK LLP acquired a new position in J. M. Smucker during the 1st quarter worth approximately $48,207,000. Finally, Champlain Investment Partners LLC increased its position in J. M. Smucker by 29.0% during the 1st quarter. Champlain Investment Partners LLC now owns 1,457,995 shares of the company’s stock worth $183,518,000 after purchasing an additional 327,680 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SJM. BNP Paribas upgraded shares of J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. DA Davidson reiterated a “neutral” rating and set a $121.00 price objective on shares of J. M. Smucker in a research report on Thursday, August 29th. TD Cowen decreased their price target on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Barclays decreased their price target on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $126.42.

J. M. Smucker Trading Down 0.9 %

NYSE:SJM opened at $111.02 on Thursday. The firm’s fifty day moving average is $117.72 and its 200-day moving average is $115.64. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55. The J. M. Smucker Company has a 52 week low of $105.69 and a 52 week high of $134.62. The firm has a market cap of $11.81 billion, a P/E ratio of 15.70, a P/E/G ratio of 3.20 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.27. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. J. M. Smucker’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 earnings per share. Equities analysts expect that The J. M. Smucker Company will post 9.8 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.89%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s dividend payout ratio is presently 61.10%.

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.