Crossmark Global Holdings Inc. Sells 446 Shares of The J. M. Smucker Company (NYSE:SJM)

Crossmark Global Holdings Inc. lessened its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 6.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,040 shares of the company’s stock after selling 446 shares during the period. Crossmark Global Holdings Inc.’s holdings in J. M. Smucker were worth $731,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Studio Investment Management LLC acquired a new position in J. M. Smucker in the second quarter valued at about $26,000. Quarry LP raised its position in shares of J. M. Smucker by 212.6% in the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after buying an additional 219 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of J. M. Smucker during the 3rd quarter worth approximately $39,000. Eastern Bank acquired a new stake in shares of J. M. Smucker during the 3rd quarter worth approximately $40,000. Finally, Rothschild Investment LLC bought a new position in J. M. Smucker in the second quarter valued at approximately $42,000. 81.66% of the stock is owned by institutional investors and hedge funds.

J. M. Smucker Trading Down 2.5 %

Shares of NYSE SJM opened at $106.92 on Friday. The stock has a market cap of $11.38 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 3.18 and a beta of 0.25. The firm has a 50 day moving average price of $117.25 and a two-hundred day moving average price of $115.56. 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.

J. M. Smucker (NYSE:SJM) last announced 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. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the company earned $2.21 EPS. J. M. Smucker’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, equities analysts forecast that The J. M. Smucker Company will post 9.8 EPS for the current year.

J. M. Smucker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 4.04%. J. M. Smucker’s payout ratio is 61.10%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. DA Davidson reiterated a “neutral” rating and issued a $121.00 target price on shares of J. M. Smucker in a research report on Thursday, August 29th. Bank of America lowered their target price on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Stifel Nicolaus downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and reduced their price target for the company from $135.00 to $125.00 in a research note on Friday, October 25th. Finally, TD Cowen lowered their price objective 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $127.09.

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.