Bridgefront Capital LLC Takes Position in The J. M. Smucker Company $SJM

Bridgefront Capital LLC acquired a new position in shares of The J. M. Smucker Company (NYSE:SJM) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,796 shares of the company’s stock, valued at approximately $738,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SJM. Root Financial Partners LLC acquired a new position in J. M. Smucker during the 3rd quarter worth approximately $29,000. CYBER HORNET ETFs LLC acquired a new stake in shares of J. M. Smucker in the second quarter valued at approximately $27,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of J. M. Smucker in the second quarter valued at approximately $28,000. MUFG Securities EMEA plc bought a new stake in shares of J. M. Smucker in the second quarter worth $31,000. Finally, First Horizon Corp acquired a new position in J. M. Smucker during the third quarter worth $56,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

Shares of SJM stock opened at $106.17 on Monday. The stock has a market cap of $11.32 billion, a P/E ratio of -9.01, a P/E/G ratio of 4.42 and a beta of 0.22. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.84 and a quick ratio of 0.35. The company has a fifty day moving average price of $106.44 and a two-hundred day moving average price of $105.26. The J. M. Smucker Company has a one year low of $93.30 and a one year high of $120.76.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data 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 company 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%. J. M. Smucker’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.61 EPS. As a group, equities analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were paid a $1.10 dividend. The ex-dividend date was Friday, February 13th. This represents a $4.40 annualized dividend and a yield of 4.1%. J. M. Smucker’s dividend payout ratio is currently -37.32%.

Analysts Set New Price Targets

SJM has been the subject of a number of analyst reports. Barclays raised their target price on shares of J. M. Smucker from $105.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. UBS Group reduced their price objective on shares of J. M. Smucker from $120.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Wall Street Zen cut J. M. Smucker from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Canaccord Genuity Group upgraded J. M. Smucker to a “buy” rating in a report on Friday, January 16th. Finally, TD Cowen increased their price target on J. M. Smucker from $105.00 to $112.00 and gave the company a “hold” rating in a research report on Friday, February 20th. Nine research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $121.14.

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.