Allworth Financial LP lifted its position in shares of The J. M. Smucker Company (NYSE:SJM – Free Report) by 9.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,531 shares of the company’s stock after purchasing an additional 214 shares during the quarter. Allworth Financial LP’s holdings in J. M. Smucker were worth $374,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of SJM. Vanguard Group Inc. grew its holdings 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. Geode Capital Management LLC grew its holdings in J. M. Smucker by 1.4% during the first quarter. Geode Capital Management LLC now owns 2,284,534 shares of the company’s stock worth $358,727,000 after buying an additional 31,412 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in J. M. Smucker by 85,116.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,102,297 shares of the company’s stock worth $333,130,000 after buying an additional 2,099,830 shares in the last quarter. Invesco Ltd. grew its holdings in J. M. Smucker by 8.3% during the first quarter. Invesco Ltd. now owns 1,820,578 shares of the company’s stock worth $246,525,000 after buying an additional 139,158 shares in the last quarter. Finally, Morgan Stanley grew its holdings in J. M. Smucker by 14.8% during the fourth quarter. Morgan Stanley now owns 1,531,825 shares of the company’s stock worth $242,733,000 after buying an additional 197,519 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on SJM. JPMorgan Chase & Co. decreased their price target on J. M. Smucker from $153.00 to $137.00 and set a “neutral” rating for the company in a report on Tuesday, September 12th. 58.com restated a “maintains” rating on shares of J. M. Smucker in a research note on Thursday, June 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on J. M. Smucker from $157.00 to $135.00 and set a “hold” rating for the company in a research note on Tuesday, September 12th. Consumer Edge raised J. M. Smucker from an “underweight” rating to an “equal weight” rating and set a $154.00 price target on the stock in a research report on Friday, September 1st. Finally, Barclays dropped their price target on J. M. Smucker from $165.00 to $160.00 in a research report on Thursday, June 8th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, J. M. Smucker currently has an average rating of “Hold” and an average price target of $148.50.
J. M. Smucker Price Performance
Shares of J. M. Smucker stock opened at $122.91 on Monday. The company has a current ratio of 1.28, a quick ratio of 0.72 and a debt-to-equity ratio of 0.62. The business’s 50-day moving average price is $140.16 and its 200-day moving average price is $147.97. The J. M. Smucker Company has a 12 month low of $122.64 and a 12 month high of $163.07.
J. M. Smucker (NYSE:SJM – Get Free Report) last posted its quarterly earnings results on Tuesday, August 29th. The company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.19. J. M. Smucker had a positive return on equity of 12.96% and a negative net margin of 0.21%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the company earned $1.67 EPS. J. M. Smucker’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts expect that The J. M. Smucker Company will post 9.71 EPS for the current year.
J. M. Smucker Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were given a $1.06 dividend. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.02. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date was Thursday, August 17th. J. M. Smucker’s dividend payout ratio (DPR) is currently -2,494.12%.
Insider Transactions at J. M. Smucker
In other news, insider Amy C. Held sold 9,917 shares of J. M. Smucker stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $143.80, for a total value of $1,426,064.60. Following the sale, the insider now directly owns 5,972 shares in the company, valued at approximately $858,773.60. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.50% of the company’s stock.
J. M. Smucker Company 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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