Lecap Asset Management Ltd. Trims Stake in The J. M. Smucker Company $SJM

Lecap Asset Management Ltd. reduced its stake in The J. M. Smucker Company (NYSE:SJM) by 69.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,313 shares of the company’s stock after selling 7,379 shares during the quarter. Lecap Asset Management Ltd.’s holdings in J. M. Smucker were worth $324,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SJM. CYBER HORNET ETFs LLC purchased a new stake in J. M. Smucker in the second quarter worth about $27,000. Root Financial Partners LLC purchased a new position in shares of J. M. Smucker during the 3rd quarter valued at about $29,000. MUFG Securities EMEA plc bought a new position in shares of J. M. Smucker during the 2nd quarter valued at approximately $31,000. First Horizon Corp purchased a new stake in J. M. Smucker in the 3rd quarter worth approximately $56,000. Finally, Fairway Wealth LLC purchased a new stake in J. M. Smucker in the 3rd quarter worth approximately $59,000. Institutional investors own 81.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $105.00 price target (down from $115.00) on shares of J. M. Smucker in a report on Friday, January 16th. Wells Fargo & Company reduced their price objective on shares of J. M. Smucker from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Wall Street Zen downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Weiss Ratings restated a “sell (d)” rating on shares of J. M. Smucker in a research note on Wednesday, January 21st. Finally, BNP Paribas Exane set a $125.00 price target on J. M. Smucker in a report on Thursday, April 9th. Ten equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, J. M. Smucker currently has an average rating of “Hold” and an average price target of $117.94.

J. M. Smucker Stock Performance

Shares of NYSE SJM opened at $96.08 on Tuesday. The company has a market cap of $10.25 billion, a P/E ratio of -8.15, a P/E/G ratio of 4.15 and a beta of 0.27. The J. M. Smucker Company has a 52-week low of $88.25 and a 52-week high of $119.39. 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 firm’s fifty day moving average is $102.82 and its two-hundred day moving average is $102.90.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Thursday, February 26th. The company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.27 by $0.11. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate 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 business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.61 EPS. As a group, analysts anticipate that The J. M. Smucker Company will post 9.05 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.40 dividend on an annualized basis and a yield of 4.6%. J. M. Smucker’s dividend payout ratio is presently -37.32%.

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.