Swiss Life Asset Management Ltd Has $2.57 Million Stock Holdings in The J. M. Smucker Company $SJM

Swiss Life Asset Management Ltd boosted its position in shares of The J. M. Smucker Company (NYSE:SJM) by 37.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,664 shares of the company’s stock after acquiring an additional 6,416 shares during the period. Swiss Life Asset Management Ltd’s holdings in J. M. Smucker were worth $2,570,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Investment Research Partners LLC bought a new stake in shares of J. M. Smucker during the third quarter valued at approximately $442,000. JPMorgan Chase & Co. lifted its position in J. M. Smucker by 14.1% in the third quarter. JPMorgan Chase & Co. now owns 865,132 shares of the company’s stock worth $93,958,000 after purchasing an additional 106,677 shares during the period. CIBC Private Wealth Group LLC boosted its stake in J. M. Smucker by 10.2% during the third quarter. CIBC Private Wealth Group LLC now owns 5,014 shares of the company’s stock worth $545,000 after buying an additional 465 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in J. M. Smucker during the third quarter worth $4,280,000. Finally, Achmea Investment Management B.V. increased its holdings in J. M. Smucker by 1.7% in the 3rd quarter. Achmea Investment Management B.V. now owns 10,786 shares of the company’s stock valued at $1,171,000 after buying an additional 177 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Stock Down 1.1%

Shares of NYSE SJM opened at $98.31 on Tuesday. The J. M. Smucker Company has a 52-week low of $93.30 and a 52-week high of $120.76. 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 has a fifty day moving average of $106.90 and a two-hundred day moving average of $104.87. The stock has a market cap of $10.48 billion, a PE ratio of -8.34, a PEG ratio of 4.14 and a beta of 0.22.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Thursday, February 26th. The company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.11. The business had revenue of $2.34 billion for 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%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.61 EPS. As a group, equities research analysts expect 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 disclosed 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 4.5%. The ex-dividend date of this dividend was Friday, February 13th. J. M. Smucker’s dividend payout ratio is currently -37.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. TD Cowen dropped their price objective on shares of J. M. Smucker from $124.00 to $113.00 and set a “hold” rating for the company in a research note on Thursday, March 19th. JPMorgan Chase & Co. lifted their target price on shares of J. M. Smucker from $121.00 to $122.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. UBS Group lowered their target price on shares of J. M. Smucker from $120.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Barclays raised their price target on shares of J. M. Smucker from $105.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Finally, Bank of America raised J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a report on Monday, February 23rd. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, J. M. Smucker currently has a consensus rating of “Hold” and a consensus target price of $121.21.

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.