Ingalls & Snyder LLC reduced its stake in J.M. Smucker Company (The) (NYSE:SJM) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,586 shares of the company’s stock after selling 565 shares during the period. Ingalls & Snyder LLC’s holdings in J.M. Smucker Company (The) were worth $2,081,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Speece Thorson Capital Group Inc. raised its position in shares of J.M. Smucker Company (The) by 46.1% in the second quarter. Speece Thorson Capital Group Inc. now owns 141,994 shares of the company’s stock valued at $16,802,000 after buying an additional 44,835 shares during the last quarter. Ownership Capital B.V. raised its position in shares of J.M. Smucker Company (The) by 6.2% in the second quarter. Ownership Capital B.V. now owns 456,907 shares of the company’s stock valued at $54,066,000 after buying an additional 26,845 shares during the last quarter. Bessemer Group Inc. raised its position in J.M. Smucker Company (The) by 43.0% in the second quarter. Bessemer Group Inc. now owns 735,619 shares of the company’s stock worth $87,046,000 after buying an additional 221,335 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in J.M. Smucker Company (The) by 204.6% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,211 shares of the company’s stock worth $617,000 after buying an additional 3,500 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in J.M. Smucker Company (The) by 0.3% in the second quarter. CIBC Asset Management Inc now owns 12,171 shares of the company’s stock worth $1,440,000 after buying an additional 31 shares in the last quarter. Institutional investors own 75.03% of the company’s stock.
J.M. Smucker Company (SJM) opened at 121.47 on Friday. The firm has a market cap of $13.78 billion, a price-to-earnings ratio of 23.82 and a beta of 0.62. The firm’s 50-day moving average price is $119.86 and its 200-day moving average price is $129.22. J.M. Smucker Company has a 12 month low of $114.31 and a 12 month high of $157.31.
J.M. Smucker Company (The) (NYSE:SJM) last issued its earnings results on Thursday, June 8th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the firm posted $1.19 EPS. J.M. Smucker Company (The)’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities research analysts predict that J.M. Smucker Company will post $7.97 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This is a boost from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.57%. J.M. Smucker Company (The)’s dividend payout ratio is presently 58.82%.
SJM has been the subject of a number of analyst reports. Morgan Stanley lowered J.M. Smucker Company (The) from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $132.00 to $126.00 in a research report on Monday, April 10th. Susquehanna Bancshares Inc restated a “neutral” rating and set a $132.00 price objective (down previously from $135.00) on shares of J.M. Smucker Company (The) in a research report on Tuesday, April 25th. Jefferies Group LLC restated a “hold” rating and set a $130.00 price objective on shares of J.M. Smucker Company (The) in a research report on Wednesday, April 26th. Zacks Investment Research lowered J.M. Smucker Company (The) from a “hold” rating to a “sell” rating in a research report on Monday, May 8th. Finally, Citigroup Inc. reduced their price objective on J.M. Smucker Company (The) from $161.00 to $155.00 and set a “buy” rating for the company in a research report on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $132.82.
In related news, SVP Jill R. Penrose sold 550 shares of the stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $120.09, for a total transaction of $66,049.50. Following the sale, the senior vice president now directly owns 13,475 shares in the company, valued at approximately $1,618,212.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven Oakland sold 6,047 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $122.00, for a total value of $737,734.00. Following the sale, the insider now owns 47,667 shares in the company, valued at $5,815,374. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,030 shares of company stock valued at $1,948,195. 3.50% of the stock is currently owned by insiders.
About J.M. Smucker Company (The)
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.
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