BTIM Corp. bought a new stake in J.M. Smucker Company (The) (NYSE:SJM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,156 shares of the company’s stock, valued at approximately $255,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cleararc Capital Inc. raised its position in shares of J.M. Smucker Company (The) by 0.4% in the first quarter. Cleararc Capital Inc. now owns 2,849 shares of the company’s stock worth $373,000 after buying an additional 11 shares in the last quarter. Schmidt P J Investment Management Inc. raised its position in shares of J.M. Smucker Company (The) by 0.5% in the first quarter. Schmidt P J Investment Management Inc. now owns 2,411 shares of the company’s stock worth $316,000 after buying an additional 13 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. increased its stake in shares of J.M. Smucker Company (The) by 0.5% in the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 5,078 shares of the company’s stock valued at $666,000 after buying an additional 26 shares during the last quarter. Gateway Investment Advisers LLC increased its stake in shares of J.M. Smucker Company (The) by 0.4% in the second quarter. Gateway Investment Advisers LLC now owns 7,168 shares of the company’s stock valued at $848,000 after buying an additional 26 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of J.M. Smucker Company (The) by 1.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,105 shares of the company’s stock valued at $381,000 after buying an additional 37 shares during the last quarter. 75.09% of the stock is currently owned by institutional investors.
Shares of J.M. Smucker Company (SJM) traded down 0.62% during midday trading on Friday, hitting $121.90. The company had a trading volume of 725,363 shares. The stock has a market capitalization of $13.83 billion, a price-to-earnings ratio of 23.90 and a beta of 0.62. J.M. Smucker Company has a one year low of $114.31 and a one year high of $156.23. The stock’s 50-day moving average price is $119.57 and its 200-day moving average price is $128.21.
J.M. Smucker Company (The) (NYSE:SJM) last posted its quarterly earnings data on Thursday, June 8th. The company reported $1.80 earnings per share for the quarter, beating 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 return on equity of 12.63% and a net margin of 8.01%. J.M. Smucker Company (The)’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share. Analysts predict that J.M. Smucker Company will post $7.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors 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 yield of 2.56%. 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%.
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Several analysts recently weighed in on the company. BidaskClub upgraded J.M. Smucker Company (The) from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. Deutsche Bank AG restated a “hold” rating and set a $131.00 target price (down previously from $135.00) on shares of J.M. Smucker Company (The) in a research note on Thursday, July 13th. Jefferies Group LLC upgraded J.M. Smucker Company (The) from a “hold” rating to a “buy” rating and raised their price objective for the stock from $130.00 to $140.00 in a research report on Friday, July 28th. Susquehanna Bancshares Inc set a $141.00 price objective on J.M. Smucker Company (The) and gave the stock a “hold” rating in a research report on Wednesday, June 7th. Finally, Hilliard Lyons upgraded J.M. Smucker Company (The) from a “neutral” rating to a “long-term buy” rating and set a $140.00 price objective for the company in a research report on Tuesday, July 11th. They noted that the move was a valuation call. Three 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. J.M. Smucker Company (The) has an average rating of “Hold” and a consensus price target of $132.82.
In related news, insider Barry C. Dunaway sold 9,433 shares of the stock in a transaction on Tuesday, June 27th. The stock was 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 directly owns 40,966 shares in the company, valued at $4,969,995.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jill R. Penrose sold 550 shares of the stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $120.09, for a total value of $66,049.50. Following the completion of the sale, the senior vice president now owns 13,475 shares of the company’s stock, valued at $1,618,212.75. The disclosure for this sale can be found here. Insiders sold 16,030 shares of company stock valued at $1,948,195 over the last 90 days. 3.50% of the stock is currently owned by company 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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