Northeast Financial Group Inc. Purchases Shares of 6,807 The J. M. Smucker Company (NYSE:SJM)

Key Points

• Northeast Financial Group Inc. has acquired 6,807 shares of The J. M. Smucker Company, valued at approximately $806,000, during the first quarter.
• J. M. Smucker recently announced an increase in its quarterly dividend, now at $1.10 per share, reflecting a yield of 4.0%.
• Analysts have set varied price targets for J. M. Smucker, with Morgan Stanley's target at $124.00 and Wells Fargo reducing it to $115.00, while the average consensus price target stands at $117.67.

Northeast Financial Group Inc. purchased a new position in The J. M. Smucker Company (NYSE:SJM - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,807 shares of the company's stock, valued at approximately $806,000.

A number of other large investors also recently added to or reduced their stakes in the business. CCM Investment Group LLC purchased a new position in J. M. Smucker in the 1st quarter worth approximately $983,000. Nuveen LLC purchased a new position in J. M. Smucker in the 1st quarter worth approximately $26,928,000. Invesco Ltd. lifted its holdings in J. M. Smucker by 8.6% in the 1st quarter. Invesco Ltd. now owns 2,623,254 shares of the company's stock worth $310,620,000 after purchasing an additional 208,231 shares in the last quarter. Citigroup Inc. lifted its holdings in J. M. Smucker by 44.4% in the 1st quarter. Citigroup Inc. now owns 156,022 shares of the company's stock worth $18,475,000 after purchasing an additional 48,005 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in J. M. Smucker by 9.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,214 shares of the company's stock worth $27,496,000 after purchasing an additional 20,483 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Trading Up 1.5%

J. M. Smucker stock traded up $1.62 during mid-day trading on Wednesday, hitting $112.99. The company's stock had a trading volume of 1,233,546 shares, compared to its average volume of 1,562,495. The company has a 50 day moving average of $104.29 and a 200-day moving average of $109.09. The stock has a market cap of $12.03 billion, a PE ratio of -9.77, a P/E/G ratio of 8.43 and a beta of 0.31. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.35 and a current ratio of 0.81. The J. M. Smucker Company has a one year low of $93.30 and a one year high of $125.42.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings data on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.25 by $0.06. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.18 billion. J. M. Smucker had a positive return on equity of 15.20% and a negative net margin of 14.10%. J. M. Smucker's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.66 EPS. On average, research analysts anticipate that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from J. M. Smucker's previous quarterly dividend of $1.08. J. M. Smucker's dividend payout ratio is currently -38.06%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SJM shares. Morgan Stanley reaffirmed an "overweight" rating and set a $124.00 price objective (up from $123.00) on shares of J. M. Smucker in a report on Friday, June 6th. Barclays decreased their price objective on J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 11th. Stifel Nicolaus upped their price objective on J. M. Smucker from $106.00 to $110.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. Royal Bank Of Canada started coverage on J. M. Smucker in a report on Monday, July 7th. They set an "outperform" rating and a $130.00 price objective on the stock. Finally, Citigroup decreased their price objective on J. M. Smucker from $128.00 to $118.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $117.67.

Insider Activity

In other news, Director Tarang Amin purchased 1,050 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were acquired at an average price of $96.09 per share, with a total value of $100,894.50. Following the transaction, the director owned 3,825 shares of the company's stock, valued at $367,544.25. This represents a 37.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.24% of the company's stock.

About J. M. Smucker

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.