Avior Wealth Management LLC Cuts Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Avior Wealth Management LLC reduced its position in shares of The J. M. Smucker Company (NYSE:SJM) by 45.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 451 shares of the company’s stock after selling 383 shares during the period. Avior Wealth Management LLC’s holdings in J. M. Smucker were worth $55,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in J. M. Smucker during the third quarter worth about $3,373,000. Caprock Group LLC grew its position in J. M. Smucker by 37.2% during the third quarter. Caprock Group LLC now owns 5,397 shares of the company’s stock worth $654,000 after buying an additional 1,463 shares during the period. Pathstone Holdings LLC grew its position in J. M. Smucker by 1.5% during the third quarter. Pathstone Holdings LLC now owns 15,369 shares of the company’s stock worth $1,861,000 after buying an additional 233 shares during the period. Joseph Group Capital Management grew its position in J. M. Smucker by 21.1% during the third quarter. Joseph Group Capital Management now owns 20,766 shares of the company’s stock worth $2,515,000 after buying an additional 3,622 shares during the period. Finally, Quest Partners LLC grew its position in J. M. Smucker by 1,868.3% during the third quarter. Quest Partners LLC now owns 8,188 shares of the company’s stock worth $992,000 after buying an additional 7,772 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Stock Down 0.5 %

Shares of NYSE SJM opened at $113.30 on Monday. The J. M. Smucker Company has a 1 year low of $105.69 and a 1 year high of $134.62. The firm’s 50 day moving average price is $116.57 and its 200 day moving average price is $115.55. The firm has a market cap of $12.06 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 3.18 and a beta of 0.25. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55.

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 analysts’ consensus estimates of $2.17 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business earned $2.21 earnings per share. J. M. Smucker’s revenue was up 17.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that The J. M. Smucker Company will post 9.79 earnings per share for the current year.

J. M. Smucker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s dividend payout ratio is currently 61.10%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup lowered their target price on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Bank of America lowered their target price on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Wells Fargo & Company lowered their price target on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Barclays lowered their price target on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.