D.A. Davidson & CO. grew its holdings in The J. M. Smucker Company (NYSE:SJM – Free Report) by 9.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,562 shares of the company’s stock after acquiring an additional 1,828 shares during the quarter. D.A. Davidson & CO.’s holdings in J. M. Smucker were worth $3,393,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Eagle Bay Advisors LLC purchased a new position in shares of J. M. Smucker during the 2nd quarter valued at approximately $27,000. Destiny Wealth Partners LLC raised its holdings in shares of J. M. Smucker by 295.7% during the 4th quarter. Destiny Wealth Partners LLC now owns 182 shares of the company’s stock worth $29,000 after acquiring an additional 136 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in shares of J. M. Smucker by 59.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 187 shares of the company’s stock valued at $29,000 after purchasing an additional 70 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in J. M. Smucker during the fourth quarter worth about $30,000. Finally, Beacon Capital Management LLC increased its holdings in shares of J. M. Smucker by 224.2% during the 4th quarter. Beacon Capital Management LLC now owns 201 shares of the company’s stock worth $32,000 after buying an additional 139 shares during the last quarter. 75.58% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
SJM has been the subject of several recent analyst reports. Argus raised J. M. Smucker from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Monday, March 27th. UBS Group decreased their price objective on shares of J. M. Smucker from $159.00 to $157.00 in a report on Wednesday, May 31st. Deutsche Bank Aktiengesellschaft cut their target price on J. M. Smucker from $158.00 to $152.00 in a research report on Monday, June 12th. 58.com restated a “maintains” rating on shares of J. M. Smucker in a research note on Thursday, June 8th. Finally, Sanford C. Bernstein lifted their price target on shares of J. M. Smucker from $135.00 to $142.00 in a research note on Wednesday, June 7th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $154.42.
J. M. Smucker Stock Performance
J. M. Smucker (NYSE:SJM – Get Free Report) last posted its earnings results on Tuesday, June 6th. The company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.23. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.17 billion. J. M. Smucker had a positive return on equity of 11.89% and a negative net margin of 1.07%. J. M. Smucker’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.23 earnings per share. Research analysts predict that The J. M. Smucker Company will post 9.52 EPS for the current year.
J. M. Smucker Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Thursday, May 11th. J. M. Smucker’s dividend payout ratio is currently -438.71%.
Insider Transactions at J. M. Smucker
In other J. M. Smucker news, COO John P. Brase sold 10,000 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $148.86, for a total value of $1,488,600.00. Following the transaction, the chief operating officer now owns 15,780 shares in the company, valued at approximately $2,349,010.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Richard K. Smucker sold 19,576 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $151.95, for a total transaction of $2,974,573.20. Following the completion of the transaction, the director now directly owns 623,605 shares of the company’s stock, valued at $94,756,779.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John P. Brase sold 10,000 shares of J. M. Smucker stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $148.86, for a total transaction of $1,488,600.00. Following the completion of the sale, the chief operating officer now owns 15,780 shares in the company, valued at $2,349,010.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,550 shares of company stock worth $6,443,176. 3.50% of the stock is currently owned by company insiders.
J. M. Smucker Profile
The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in three segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, toppings, and syrups; jelly products; nut mix products; shortening and oils; frozen sandwiches and snacks; pet food and pet snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, juices and beverages, and baking mixes and ingredients.
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