Retirement Systems of Alabama raised its stake in shares of J.M. Smucker Company (The) (NYSE:SJM) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 56,451 shares of the company’s stock after buying an additional 174 shares during the period. Retirement Systems of Alabama’s holdings in J.M. Smucker Company (The) were worth $6,680,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Harbour Capital Advisors LLC purchased a new position in shares of J.M. Smucker Company (The) during the first quarter valued at approximately $126,000. Schnieders Capital Management LLC bought a new position in J.M. Smucker Company (The) during the first quarter valued at about $217,000. Advisory Services Network LLC bought a new position in J.M. Smucker Company (The) during the first quarter valued at about $221,000. HPM Partners LLC bought a new position in J.M. Smucker Company (The) during the first quarter valued at about $229,000. Finally, Independence Advisors LLC bought a new position in J.M. Smucker Company (The) during the second quarter valued at about $232,000. 75.09% of the stock is owned by institutional investors and hedge funds.
Shares of J.M. Smucker Company (SJM) opened at 122.92 on Wednesday. The stock’s 50 day moving average is $119.30 and its 200-day moving average is $128.38. J.M. Smucker Company has a 1-year low of $114.31 and a 1-year high of $156.23. The firm has a market cap of $13.94 billion, a PE ratio of 24.10 and a beta of 0.62.
J.M. Smucker Company (The) (NYSE:SJM) last issued 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 company had revenue of $1.78 billion for 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%. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 EPS. Analysts expect that J.M. Smucker Company will post $7.97 earnings per share for the current year.
The company also recently declared 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. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.54%. 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 dividend payout ratio is presently 61.18%.
A number of analysts recently weighed in on the stock. Citigroup Inc. lowered their target price on shares of J.M. Smucker Company (The) from $161.00 to $155.00 and set a “buy” rating on the stock in a research note on Tuesday, May 9th. Stephens cut shares of J.M. Smucker Company (The) from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $165.00 to $125.00 in a research note on Wednesday, July 19th. Morgan Stanley reissued an “underweight” rating and issued a $114.00 target price (down previously from $126.00) on shares of J.M. Smucker Company (The) in a research note 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 target price on the stock in a research note on Tuesday, July 11th. They noted that the move was a valuation call. Finally, BidaskClub raised shares of J.M. Smucker Company (The) from a “strong sell” rating to a “sell” rating in a research note on Saturday. Three 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. J.M. Smucker Company (The) currently has a consensus rating of “Hold” and a consensus target price of $132.82.
In related 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 transaction, the insider now directly owns 40,966 shares in the company, valued at $4,969,995.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven Oakland sold 6,047 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 worth $1,948,195. 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.
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