Independent Advisor Alliance Has $618,000 Stock Position in The J. M. Smucker Company (NYSE:SJM)

Independent Advisor Alliance trimmed its position in The J. M. Smucker Company (NYSE:SJM) by 5.5% in the third quarter, Holdings Channel.com reports. The firm owned 5,104 shares of the company’s stock after selling 299 shares during the period. Independent Advisor Alliance’s holdings in J. M. Smucker were worth $618,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Studio Investment Management LLC acquired a new stake in J. M. Smucker in the second quarter worth about $26,000. Venturi Wealth Management LLC grew its position in shares of J. M. Smucker by 1,329.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock worth $29,000 after buying an additional 226 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of J. M. Smucker during the 3rd quarter worth about $39,000. Quarry LP grew its position in shares of J. M. Smucker by 212.6% during the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after buying an additional 219 shares during the period. Finally, Eastern Bank acquired a new position in shares of J. M. Smucker during the 3rd quarter worth about $40,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

J. M. Smucker Stock Down 1.8 %

SJM stock opened at $117.97 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $12.55 billion, a PE ratio of 16.69, a PEG ratio of 3.19 and a beta of 0.25. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62. The business’s 50 day simple moving average is $116.43 and its 200 day simple moving average is $115.59.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.27. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.27 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The firm’s revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.59 EPS. As a group, research analysts anticipate that The J. M. Smucker Company will post 9.79 EPS for the current year.

J. M. Smucker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s payout ratio is presently 61.10%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SJM. Citigroup decreased their target price on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Bank of America decreased their target price on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. Wells Fargo & Company boosted their price objective on J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, TD Cowen decreased their price objective on 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $127.55.

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.