Comerica Bank Sells 3,311 Shares of The J. M. Smucker Company (NYSE:SJM)

Comerica Bank trimmed its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 12.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,030 shares of the company's stock after selling 3,311 shares during the period. Comerica Bank's holdings in J. M. Smucker were worth $2,646,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Capital Advisors Ltd. LLC boosted its stake in J. M. Smucker by 188.8% during the 4th quarter. Capital Advisors Ltd. LLC now owns 231 shares of the company's stock valued at $25,000 after purchasing an additional 151 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of J. M. Smucker during the fourth quarter valued at approximately $27,000. Kentucky Trust Co bought a new stake in J. M. Smucker during the fourth quarter worth $28,000. Kieckhefer Group LLC bought a new position in J. M. Smucker during the 4th quarter valued at $33,000. Finally, Hantz Financial Services Inc. purchased a new position in J. M. Smucker during the 4th quarter worth $39,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SJM. DA Davidson dropped their price target on shares of J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Morgan Stanley began coverage on J. M. Smucker in a research note on Monday, March 24th. They issued an "overweight" rating and a $123.00 target price on the stock. UBS Group began coverage on J. M. Smucker in a research report on Wednesday, April 23rd. They set a "buy" rating and a $134.00 price target for the company. Barclays cut their price objective on J. M. Smucker from $123.00 to $119.00 and set an "equal weight" rating on the stock in a research report on Monday, March 3rd. Finally, Stifel Nicolaus decreased their target price on J. M. Smucker from $125.00 to $120.00 and set a "hold" rating for the company in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $126.50.

J. M. Smucker Stock Performance

J. M. Smucker stock traded down $0.54 during midday trading on Friday, reaching $111.48. The stock had a trading volume of 1,086,012 shares, compared to its average volume of 1,171,966. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $11.86 billion, a PE ratio of 22.57, a P/E/G ratio of 3.91 and a beta of 0.36. The J. M. Smucker Company has a 12 month low of $98.77 and a 12 month high of $125.42. The firm's 50-day moving average price is $114.20 and its 200 day moving average price is $111.34.

J. M. Smucker (NYSE:SJM - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.37 by $0.24. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.23 billion. As a group, research analysts predict that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 16th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Friday, May 16th. J. M. Smucker's payout ratio is presently -179.25%.

Insider Activity

In other J. M. Smucker news, CFO Tucker H. Marshall sold 5,028 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $113.36, for a total value of $569,974.08. Following the transaction, the chief financial officer now directly owns 13,263 shares in the company, valued at $1,503,493.68. This represents a 27.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jill R. Penrose sold 5,117 shares of J. M. Smucker stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $116.26, for a total value of $594,902.42. Following the sale, the insider now owns 8,794 shares of the company's stock, valued at approximately $1,022,390.44. This trade represents a 36.78 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.40% 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.