Cinctive Capital Management LP Buys Shares of 9,187 The J. M. Smucker Company $SJM

Cinctive Capital Management LP purchased a new position in The J. M. Smucker Company (NYSE:SJM) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,187 shares of the company’s stock, valued at approximately $998,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. CYBER HORNET ETFs LLC purchased a new stake in J. M. Smucker during the 2nd quarter worth about $27,000. Elevation Point Wealth Partners LLC purchased a new position in J. M. Smucker in the 2nd quarter valued at about $28,000. Root Financial Partners LLC acquired a new stake in shares of J. M. Smucker during the 3rd quarter worth about $29,000. MUFG Securities EMEA plc acquired a new stake in shares of J. M. Smucker during the 2nd quarter worth about $31,000. Finally, Caldwell Trust Co purchased a new stake in shares of J. M. Smucker during the second quarter worth about $52,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

J. M. Smucker Price Performance

SJM opened at $104.81 on Tuesday. The J. M. Smucker Company has a 1 year low of $93.30 and a 1 year high of $120.76. The company’s 50 day simple moving average is $106.65 and its 200 day simple moving average is $105.24. The stock has a market capitalization of $11.18 billion, a PE ratio of -8.89, a P/E/G ratio of 4.42 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.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Thursday, February 26th. The company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.27 by $0.11. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates 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 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 posted $2.61 earnings per share. As a group, sell-side analysts expect that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, February 13th. J. M. Smucker’s dividend payout ratio is presently -37.32%.

Analyst Upgrades and Downgrades

SJM has been the subject of a number of analyst reports. TD Cowen boosted their price objective 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. Sanford C. Bernstein raised shares of J. M. Smucker from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $121.00 to $145.00 in a research note on Wednesday, March 11th. JPMorgan Chase & Co. boosted their price target on J. M. Smucker from $121.00 to $122.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of J. M. Smucker in a research note on Wednesday, January 21st. Finally, UBS Group decreased their price objective on J. M. Smucker from $120.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Nine equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $121.14.

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.