Envestnet Asset Management Inc. raised its holdings in The J. M. Smucker Company (NYSE:SJM – Free Report) by 386.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 854,803 shares of the company’s stock after purchasing an additional 679,200 shares during the period. Envestnet Asset Management Inc. owned approximately 0.80% of J. M. Smucker worth $22,016,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in SJM. Fairfield Bush & CO. grew its position in J. M. Smucker by 1.5% during the first quarter. Fairfield Bush & CO. now owns 30,551 shares of the company’s stock worth $4,137,000 after buying an additional 461 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of J. M. Smucker by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,499 shares of the company’s stock worth $1,963,000 after purchasing an additional 898 shares during the period. Allianz Asset Management GmbH raised its stake in J. M. Smucker by 1.7% in the first quarter. Allianz Asset Management GmbH now owns 339,555 shares of the company’s stock valued at $45,980,000 after purchasing an additional 5,531 shares in the last quarter. National Pension Service raised its stake in J. M. Smucker by 1,012.2% in the first quarter. National Pension Service now owns 192,636 shares of the company’s stock valued at $26,085,000 after purchasing an additional 175,315 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in J. M. Smucker by 1.3% during the first quarter. Vanguard Group Inc. now owns 12,721,847 shares of the company’s stock worth $1,722,666,000 after buying an additional 162,944 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on SJM shares. 58.com reaffirmed a “maintains” rating on shares of J. M. Smucker in a report on Thursday, June 8th. Stifel Nicolaus reduced their target price on J. M. Smucker from $160.00 to $150.00 and set a “hold” rating on the stock in a report on Wednesday. Bank of America boosted their price target on J. M. Smucker from $168.00 to $170.00 in a report on Wednesday, June 7th. TheStreet downgraded J. M. Smucker from an “a-” rating to a “c+” rating in a research report on Tuesday, June 6th. Finally, Sanford C. Bernstein lifted their target price on J. M. Smucker from $135.00 to $142.00 in a research report on Wednesday, June 7th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, J. M. Smucker presently has a consensus rating of “Hold” and an average price target of $154.25.
J. M. Smucker Stock Up 0.7 %
NYSE:SJM opened at $144.95 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 0.93. The J. M. Smucker Company has a one year low of $135.44 and a one year high of $163.07. The firm’s 50 day simple moving average is $147.61 and its 200 day simple moving average is $150.61. The company has a market cap of $14.79 billion, a PE ratio of -155.86, a P/E/G ratio of 2.87 and a beta of 0.21.
J. M. Smucker (NYSE:SJM – Get Free Report) last posted its quarterly earnings data on Tuesday, August 29th. The company reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.19. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 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 down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.67 earnings per share. On average, research analysts anticipate that The J. M. Smucker Company will post 9.53 earnings per share for the current year.
J. M. Smucker Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, August 17th. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.02. J. M. Smucker’s dividend payout ratio is currently -455.91%.
Insider Buying and Selling at J. M. Smucker
In other news, Director Richard K. Smucker sold 19,576 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $151.95, for a total value of $2,974,573.20. Following the transaction, the director now owns 623,605 shares in the company, valued at approximately $94,756,779.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other J. M. Smucker news, insider Jill R. Penrose sold 3,009 shares of J. M. Smucker stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $153.65, for a total value of $462,332.85. Following the completion of the sale, the insider now directly owns 6,058 shares in the company, valued at $930,811.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard K. Smucker sold 19,576 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $151.95, for a total value of $2,974,573.20. Following the transaction, the director now owns 623,605 shares in the company, valued at $94,756,779.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,557 shares of company stock valued at $6,444,151. 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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