J M Smucker Co (NYSE:SJM) Short Interest Up 10.1% in November

J M Smucker Co (NYSE:SJM) was the recipient of a large increase in short interest in November. As of November 29th, there was short interest totalling 8,490,000 shares, an increase of 10.1% from the November 14th total of 7,710,000 shares. Currently, 7.7% of the company’s shares are sold short. Based on an average daily volume of 788,700 shares, the days-to-cover ratio is currently 10.8 days.

NYSE SJM traded down $0.96 on Friday, reaching $101.51. The company had a trading volume of 1,486,152 shares, compared to its average volume of 1,065,147. The firm has a market capitalization of $11.69 billion, a PE ratio of 12.24, a P/E/G ratio of 3.89 and a beta of 0.41. J M Smucker has a 1 year low of $91.32 and a 1 year high of $128.43. The firm has a 50-day moving average of $106.15 and a 200-day moving average of $111.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.28.

J M Smucker (NYSE:SJM) last released its earnings results on Friday, November 22nd. The company reported $2.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.13. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.97 billion. J M Smucker had a return on equity of 11.60% and a net margin of 7.30%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.17 EPS. As a group, sell-side analysts expect that J M Smucker will post 8.15 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 3.47%. The ex-dividend date was Thursday, November 14th. J M Smucker’s dividend payout ratio (DPR) is currently 42.46%.

In related news, CFO Mark R. Belgya sold 750 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $110.00, for a total transaction of $82,500.00. Following the completion of the sale, the chief financial officer now owns 52,692 shares of the company’s stock, valued at approximately $5,796,120. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.70% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in SJM. 1 North Wealth Services LLC purchased a new position in shares of J M Smucker during the 3rd quarter valued at approximately $28,000. Global Retirement Partners LLC raised its position in shares of J M Smucker by 87.5% during the 3rd quarter. Global Retirement Partners LLC now owns 255 shares of the company’s stock valued at $28,000 after acquiring an additional 119 shares in the last quarter. Whitener Capital Management Inc. raised its position in shares of J M Smucker by 52.4% during the 2nd quarter. Whitener Capital Management Inc. now owns 291 shares of the company’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. Stonebridge Capital Advisors LLC acquired a new stake in shares of J M Smucker during the 2nd quarter valued at approximately $37,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of J M Smucker during the 3rd quarter valued at approximately $42,000. Institutional investors own 78.01% of the company’s stock.

SJM has been the subject of a number of analyst reports. Zacks Investment Research upgraded J M Smucker from a “sell” rating to a “hold” rating and set a $110.00 price target for the company in a report on Friday, November 15th. ValuEngine upgraded J M Smucker from a “strong sell” rating to a “sell” rating in a report on Thursday, October 10th. Guggenheim decreased their price target on J M Smucker from $99.00 to $93.00 and set a “sell” rating for the company in a report on Wednesday, August 28th. Citigroup decreased their price target on J M Smucker from $142.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Wells Fargo & Co restated a “hold” rating on shares of J M Smucker in a report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. J M Smucker currently has a consensus rating of “Hold” and a consensus target price of $112.20.

J M Smucker Company Profile

The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.

Further Reading: Cost of Debt

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