J.M. Smucker Company (The) (NYSE:SJM) Stake Raised by Middleton & Co Inc MA

Middleton & Co Inc MA raised its stake in shares of J.M. Smucker Company (The) (NYSE:SJM) by 529.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,555 shares of the company’s stock after buying an additional 22,335 shares during the period. Middleton & Co Inc MA’s holdings in J.M. Smucker Company (The) were worth $3,142,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SJM. Vanguard Group Inc. raised its stake in J.M. Smucker Company (The) by 3.7% in the first quarter. Vanguard Group Inc. now owns 11,943,550 shares of the company’s stock worth $1,565,560,000 after buying an additional 420,604 shares in the last quarter. BlackRock Inc. raised its stake in J.M. Smucker Company (The) by 2,899.4% in the first quarter. BlackRock Inc. now owns 7,583,056 shares of the company’s stock worth $993,987,000 after buying an additional 7,330,233 shares in the last quarter. State Street Corp raised its stake in J.M. Smucker Company (The) by 2.2% in the first quarter. State Street Corp now owns 5,446,418 shares of the company’s stock worth $713,916,000 after buying an additional 115,471 shares in the last quarter. Wells Fargo & Company MN raised its stake in J.M. Smucker Company (The) by 9.7% in the first quarter. Wells Fargo & Company MN now owns 3,777,859 shares of the company’s stock worth $495,201,000 after buying an additional 334,989 shares in the last quarter. Finally, FMR LLC raised its stake in J.M. Smucker Company (The) by 49.4% in the first quarter. FMR LLC now owns 2,009,137 shares of the company’s stock worth $263,357,000 after buying an additional 664,514 shares in the last quarter. Institutional investors and hedge funds own 75.03% of the company’s stock.

J.M. Smucker Company (NYSE SJM) opened at 121.47 on Friday. The company has a market cap of $13.78 billion, a P/E ratio of 23.82 and a beta of 0.62. J.M. Smucker Company has a 52 week low of $114.31 and a 52 week high of $157.31. The firm’s 50 day moving average is $119.86 and its 200-day moving average is $129.22.

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, beating the consensus estimate of $1.72 by $0.08. J.M. Smucker Company (The) had a net margin of 8.01% and a return on equity of 12.63%. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the company earned $1.19 EPS. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. On average, analysts predict that J.M. Smucker Company will post $7.97 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Wednesday, August 9th. This is a boost from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. J.M. Smucker Company (The)’s dividend payout ratio is presently 58.82%.

A number of analysts have recently weighed in on SJM shares. Citigroup Inc. dropped their target price on shares of J.M. Smucker Company (The) from $161.00 to $155.00 and set a “buy” rating for the company in a report on Tuesday, May 9th. Stephens lowered shares of J.M. Smucker Company (The) from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $165.00 to $125.00 in a report on Wednesday, July 19th. Morgan Stanley reiterated an “underweight” rating and set a $114.00 target price (down from $126.00) on shares of J.M. Smucker Company (The) in a report on Tuesday, July 18th. Hilliard Lyons raised shares of J.M. Smucker Company (The) from a “neutral” rating to a “long-term buy” rating and set a $140.00 price target for the company in a research note on Tuesday, July 11th. They noted that the move was a valuation call. Finally, Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $132.00 price target (down from $135.00) on shares of J.M. Smucker Company (The) in a research note on Tuesday, April 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $132.82.

In other news, insider Barry C. Dunaway sold 9,433 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $121.32, for a total value of $1,144,411.56. Following the completion of the sale, the insider now owns 40,966 shares of the company’s stock, valued at approximately $4,969,995.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sandra Pianalto purchased 250 shares of the stock in a transaction dated Tuesday, June 27th. The stock was acquired at an average cost of $120.61 per share, with a total value of $30,152.50. Following the transaction, the director now directly owns 250 shares in the company, valued at approximately $30,152.50. The disclosure for this purchase can be found here. Insiders sold a total of 16,030 shares of company stock valued at $1,948,195 in the last ninety days. Corporate insiders own 3.50% of the company’s stock.

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.