Commonwealth Equity Services LLC boosted its position in shares of The J. M. Smucker Company (NYSE:SJM – Free Report) by 2.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,741 shares of the company’s stock after buying an additional 1,922 shares during the period. Commonwealth Equity Services LLC owned approximately 0.07% of J. M. Smucker worth $11,290,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the business. Eagle Bay Advisors LLC acquired a new position in shares of J. M. Smucker during the second quarter valued at about $27,000. Massmutual Trust Co. FSB ADV increased its stake in J. M. Smucker by 59.8% during the 1st 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in J. M. Smucker during the fourth quarter worth $30,000. U.S. Capital Wealth Advisors LLC bought a new position in shares of J. M. Smucker in the fourth quarter valued at $32,000. Finally, CNB Bank acquired a new position in shares of J. M. Smucker during the first quarter valued at about $34,000. 79.08% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at J. M. Smucker
In other J. M. Smucker news, COO John P. Brase sold 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 15,780 shares in the company, valued at $2,349,010.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO John P. Brase sold 10,000 shares of the firm’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 15,780 shares of the company’s stock, valued at $2,349,010.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jill R. Penrose sold 3,009 shares of the business’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $153.65, for a total transaction of $462,332.85. Following the completion of the sale, the insider now owns 6,058 shares in the company, valued at approximately $930,811.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,557 shares of company stock valued at $6,444,151. Insiders own 3.50% of the company’s stock.
J. M. Smucker Stock Up 0.6 %
J. M. Smucker (NYSE:SJM – Get Free Report) last issued its quarterly earnings data on Tuesday, June 6th. The company reported $2.64 earnings per share for the quarter, beating 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 negative net margin of 1.07% and a positive return on equity of 11.89%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.23 earnings per share. As a group, analysts forecast that The J. M. Smucker Company will post 9.53 EPS for the current fiscal year.
J. M. Smucker Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, August 17th. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.02. J. M. Smucker’s dividend payout ratio is -455.91%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on SJM shares. Bank of America raised their target price on J. M. Smucker from $168.00 to $170.00 in a report on Wednesday, June 7th. Barclays reduced their target price on shares of J. M. Smucker from $165.00 to $160.00 in a research note on Thursday, June 8th. Deutsche Bank Aktiengesellschaft upped their target price on J. M. Smucker from $152.00 to $153.00 and gave the stock a “hold” rating in a research note on Monday, August 21st. Stifel Nicolaus decreased their price objective on J. M. Smucker from $168.00 to $160.00 in a report on Wednesday, June 7th. Finally, 58.com reaffirmed a “maintains” rating on shares of J. M. Smucker in a research note on Thursday, June 8th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $154.50.
View Our Latest Analysis on J. M. Smucker
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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