Sigma Investment Management Co Continues to Hold Stake in J.M. Smucker Company (The) (NYSE:SJM)

Sigma Investment Management Co continued to hold its stake in shares of J.M. Smucker Company (The) (NYSE:SJM) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 18,118 shares of the company’s stock at the end of the second quarter. J.M. Smucker Company (The) accounts for 1.8% of Sigma Investment Management Co’s investment portfolio, making the stock its 6th largest position. Sigma Investment Management Co’s holdings in J.M. Smucker Company (The) were worth $2,144,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Cardinal Capital Management Inc. raised its position in J.M. Smucker Company (The) by 11.5% in the first quarter. Cardinal Capital Management Inc. now owns 99,665 shares of the company’s stock worth $13,064,000 after buying an additional 10,260 shares during the last quarter. West Oak Capital LLC raised its position in J.M. Smucker Company (The) by 17.4% in the first quarter. West Oak Capital LLC now owns 8,105 shares of the company’s stock valued at $1,062,000 after buying an additional 1,200 shares during the last quarter. Smith Salley & Associates raised its position in J.M. Smucker Company (The) by 14.9% in the first quarter. Smith Salley & Associates now owns 1,992 shares of the company’s stock valued at $261,000 after buying an additional 259 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in J.M. Smucker Company (The) by 264.9% in the first quarter. BNP Paribas Arbitrage SA now owns 99,542 shares of the company’s stock valued at $13,048,000 after buying an additional 72,260 shares during the last quarter. Finally, Norinchukin Bank The raised its position in J.M. Smucker Company (The) by 7.1% in the first quarter. Norinchukin Bank The now owns 7,566 shares of the company’s stock valued at $992,000 after buying an additional 503 shares during the last quarter. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Shares of J.M. Smucker Company (NYSE:SJM) traded up 0.24% during midday trading on Friday, hitting $122.42. 758,937 shares of the company’s stock were exchanged. The stock has a market cap of $13.89 billion, a PE ratio of 24.00 and a beta of 0.62. J.M. Smucker Company has a 1-year low of $114.31 and a 1-year high of $157.31. The stock’s 50 day moving average is $120.22 and its 200-day moving average is $129.36.

J.M. Smucker Company (The) (NYSE:SJM) last released its quarterly earnings data on Thursday, June 8th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.08. J.M. Smucker Company (The) had a return on equity of 12.63% and a net margin of 8.01%. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the company posted $1.19 earnings per share. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Analysts predict that J.M. Smucker Company will post $7.97 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be paid a dividend of $0.78 per share. This is a positive change from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. This represents a $3.12 annualized dividend and a yield of 2.55%. The ex-dividend date is Wednesday, August 9th. J.M. Smucker Company (The)’s dividend payout ratio is currently 58.82%.

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Several equities analysts have weighed in on the stock. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $135.00 target price (down from $137.00) on shares of J.M. Smucker Company (The) in a report on Wednesday, June 28th. Deutsche Bank AG reiterated a “hold” rating and issued a $131.00 target price (down from $135.00) on shares of J.M. Smucker Company (The) in a report on Thursday, July 13th. Morgan Stanley reissued an “underweight” rating and issued a $114.00 price target (down from $126.00) on shares of J.M. Smucker Company (The) in a research note on Tuesday, July 18th. Susquehanna Bancshares Inc set a $141.00 price target on shares of J.M. Smucker Company (The) and gave the company a “hold” rating in a research note on Wednesday, June 7th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $126.00 price target on shares of J.M. Smucker Company (The) in a research note on Thursday, June 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. J.M. Smucker Company (The) currently has a consensus rating of “Hold” and an average target price of $132.82.

In related news, insider Steven Oakland sold 6,047 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $122.00, for a total value of $737,734.00. Following the transaction, the insider now owns 47,667 shares in the company, valued at $5,815,374. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jill R. Penrose sold 550 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $120.09, for a total value of $66,049.50. Following the completion of the transaction, the senior vice president now owns 13,475 shares in the company, valued at approximately $1,618,212.75. The disclosure for this sale can be found here. Insiders have sold 16,030 shares of company stock valued at $1,948,195 over the last quarter. Corporate insiders own 3.50% of the company’s stock.

J.M. Smucker Company (The) Company Profile

The J. M. Smucker Company is a manufacturer and marketer of branded food and beverage products and pet food and pet snacks in North America. The Company’s segments include U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Foodservice. The Company’s U.S. retail market segments consist of the sale of branded food products to consumers through retail outlets in North America.