Physicians Financial Services Inc. Lowers Holdings in The J. M. Smucker Company (NYSE:SJM)

by · The Markets Daily

Physicians Financial Services Inc. reduced its stake in shares of The J. M. Smucker Company (NYSE:SJM – Free Report) by 9.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,185 shares of the company’s stock after selling 315 shares during the period. Physicians Financial Services Inc.’s holdings in J. M. Smucker were worth $386,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SJM. Studio Investment Management LLC acquired a new stake in shares of J. M. Smucker in the second quarter worth $26,000. Quarry LP boosted its position in shares of J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after buying an additional 219 shares during the period. Catalyst Capital Advisors LLC purchased a new position in J. M. Smucker in the 3rd quarter worth approximately $39,000. Eastern Bank acquired a new stake in J. M. Smucker during the 3rd quarter valued at $40,000. Finally, Rothschild Investment LLC purchased a new position in J. M. Smucker in the second quarter valued at about $42,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. TD Cowen reduced their price target on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Stifel Nicolaus downgraded J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price target for the stock from $135.00 to $125.00 in a research note on Friday, October 25th. Citigroup cut their price objective on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $126.42.

Check Out Our Latest Report on J. M. Smucker

J. M. Smucker Stock Performance

SJM stock traded down $0.13 on Friday, reaching $115.13. The company’s stock had a trading volume of 138,169 shares, compared to its average volume of 1,146,711. The firm has a fifty day moving average of $118.06 and a two-hundred day moving average of $115.75. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The company has a market capitalization of $12.25 billion, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 3.30 and a beta of 0.25. The J. M. Smucker Company has a 52 week low of $105.69 and a 52 week high of $134.62.

J. M. Smucker (NYSE:SJM – Get Free Report) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.27. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The company’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 earnings per share. As a group, analysts predict that The J. M. Smucker Company will post 9.8 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The company 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. The ex-dividend date is Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 3.75%. J. M. Smucker’s dividend payout ratio is currently 61.10%.

About J. M. Smucker

(Free Report)

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.

See Also

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