Wagner Bowman Management Corp Cuts Stake in J.M. Smucker Company (The) (SJM)

Wagner Bowman Management Corp cut its position in shares of J.M. Smucker Company (The) (NYSE:SJM) by 2.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,726 shares of the company’s stock after selling 112 shares during the period. Wagner Bowman Management Corp’s holdings in J.M. Smucker Company (The) were worth $559,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of 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 during the last quarter. FMR LLC boosted its stake in shares of 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 during the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 during the last quarter. Seizert Capital Partners LLC purchased a new stake in shares of J.M. Smucker Company (The) during the first quarter worth $50,982,000. Finally, Bahl & Gaynor Inc. boosted its stake in shares of J.M. Smucker Company (The) by 186.9% in the first quarter. Bahl & Gaynor Inc. now owns 543,828 shares of the company’s stock worth $71,285,000 after buying an additional 354,281 shares during the last quarter. 75.47% of the stock is owned by institutional investors and hedge funds.

Shares of J.M. Smucker Company (NYSE SJM) traded up 0.46% during mid-day trading on Friday, reaching $122.28. The company’s stock had a trading volume of 448,769 shares. The firm has a market capitalization of $13.87 billion, a PE ratio of 23.98 and a beta of 0.62. The firm has a 50-day moving average of $119.21 and a 200-day moving average of $128.65. J.M. Smucker Company has a 52 week low of $114.31 and a 52 week high of $156.23.

J.M. Smucker Company (The) (NYSE:SJM) last announced its earnings results on Thursday, June 8th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.08. The company 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 return on equity of 12.63% and a net margin of 8.01%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm earned $1.19 earnings per share. Equities research analysts forecast that J.M. Smucker Company will post $7.97 earnings per share for the current fiscal year.

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

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A number of equities research analysts have recently weighed in on SJM shares. Zacks Investment Research cut J.M. Smucker Company (The) from a “hold” rating to a “sell” rating in a research note on Monday, May 8th. Credit Suisse Group reissued a “neutral” rating and set a $126.00 target price (down from $138.00) on shares of J.M. Smucker Company (The) in a research note on Friday, May 19th. J P Morgan Chase & Co reissued an “overweight” rating and set a $135.00 target price (down from $137.00) on shares of J.M. Smucker Company (The) in a research note on Wednesday, June 28th. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $132.00 target price (down from $135.00) on shares of J.M. Smucker Company (The) in a research note on Tuesday, April 25th. Finally, Stephens cut J.M. Smucker Company (The) from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $165.00 to $125.00 in a research note on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $132.82.

In other 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 transaction of $737,734.00. Following the completion of the sale, the insider now directly owns 47,667 shares in the company, valued at $5,815,374. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sandra Pianalto bought 250 shares of the stock in a transaction dated Tuesday, June 27th. The shares were acquired at an average price of $120.61 per share, with a total value of $30,152.50. Following the completion of the purchase, the director now directly owns 250 shares of the company’s stock, valued at $30,152.50. The disclosure for this purchase can be found here. Insiders have sold 16,030 shares of company stock valued at $1,948,195 over the last 90 days. 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.

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

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