J.M. Smucker Company (The) (NYSE:SJM) Shares Bought by Mcrae Capital Management Inc.

Mcrae Capital Management Inc. boosted its position in shares of J.M. Smucker Company (The) (NYSE:SJM) by 0.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,695 shares of the company’s stock after buying an additional 1 shares during the period. Mcrae Capital Management Inc.’s holdings in J.M. Smucker Company (The) were worth $201,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Great West Life Assurance Co. Can raised its stake in shares of J.M. Smucker Company (The) by 43.8% in the second quarter. Great West Life Assurance Co. Can now owns 210,873 shares of the company’s stock worth $24,906,000 after buying an additional 64,205 shares during the period. Janney Montgomery Scott LLC raised its stake in J.M. Smucker Company (The) by 2.1% in the second quarter. Janney Montgomery Scott LLC now owns 21,637 shares of the company’s stock valued at $2,560,000 after buying an additional 455 shares during the period. Harbour Capital Advisors LLC raised its stake in J.M. Smucker Company (The) by 10,500.4% in the second quarter. Harbour Capital Advisors LLC now owns 101,764 shares of the company’s stock valued at $860,000 after buying an additional 100,804 shares during the period. First Merchants Corp raised its stake in J.M. Smucker Company (The) by 7.6% in the second quarter. First Merchants Corp now owns 32,798 shares of the company’s stock valued at $3,881,000 after buying an additional 2,304 shares during the period. Finally, Sumitomo Life Insurance Co. raised its stake in J.M. Smucker Company (The) by 223.4% in the second quarter. Sumitomo Life Insurance Co. now owns 12,677 shares of the company’s stock valued at $1,500,000 after buying an additional 8,757 shares during the period. 75.47% of the stock is owned by institutional investors.

Shares of J.M. Smucker Company (NYSE:SJM) traded up 0.46% during mid-day trading on Friday, reaching $122.28. 448,769 shares of the company were exchanged. The stock has a market capitalization of $13.87 billion, a P/E ratio of 23.98 and a beta of 0.62. J.M. Smucker Company has a 12 month low of $114.31 and a 12 month high of $156.23. The firm has a 50-day moving average price of $119.21 and a 200 day moving average price of $128.65.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.55%. This is an increase from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. The ex-dividend date is Wednesday, August 9th. J.M. Smucker Company (The)’s payout ratio is 61.18%.

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Several research firms recently weighed in on SJM. BidaskClub upgraded shares of J.M. Smucker Company (The) from a “strong sell” rating to a “sell” rating in a research note on Saturday. Jefferies Group LLC upgraded shares of J.M. Smucker Company (The) from a “hold” rating to a “buy” rating and raised their price target for the company from $130.00 to $140.00 in a research note on Friday, July 28th. Stephens lowered shares of J.M. Smucker Company (The) from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $165.00 to $125.00 in a research note on Wednesday, July 19th. Morgan Stanley restated an “underweight” rating and issued a $114.00 price target (down previously from $126.00) on shares of J.M. Smucker Company (The) in a research note on Tuesday, July 18th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $131.00 price target (down previously from $135.00) on shares of J.M. Smucker Company (The) in a research note on Thursday, July 13th. Three equities 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 company’s stock. The company currently has an average rating of “Hold” and an average target price of $132.82.

In related news, insider Steven Oakland sold 6,047 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $122.00, for a total transaction of $737,734.00. Following the completion of the sale, the insider now directly owns 47,667 shares of the company’s stock, valued at $5,815,374. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Barry C. Dunaway sold 9,433 shares of the business’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 transaction of $1,144,411.56. Following the transaction, the insider now owns 40,966 shares of the company’s stock, valued at approximately $4,969,995.12. The disclosure for this sale can be found here. Over the last three months, insiders have 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.

Institutional Ownership by Quarter for J.M. Smucker Company (The) (NYSE:SJM)

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