Ashton Thomas Private Wealth LLC Sells 45,557 Shares of The J. M. Smucker Company $SJM

Key Points

• Ashton Thomas Private Wealth cut its stake in The J. M. Smucker Company (SJM) by 78.5%, selling 45,557 shares and retaining 12,442 shares worth about $1.217 million per its latest SEC filing.
• Smucker beat quarterly estimates with EPS $2.38 vs. $2.27 and revenue of $2.34 billion versus $2.32 billion, and announced a quarterly dividend of $1.10 per share (annualized $4.40, ~4.5% yield; ex-dividend May 15, payable June 1).
• Wall Street views are mixed: the consensus rating is a "Hold" with an average price target of $117.25, and institutional investors own about 81.66% of the stock.

Ashton Thomas Private Wealth LLC cut its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 78.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,442 shares of the company's stock after selling 45,557 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in J. M. Smucker were worth $1,217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SJM. CYBER HORNET ETFs LLC acquired a new position in shares of J. M. Smucker in the 2nd quarter valued at approximately $27,000. Root Financial Partners LLC acquired a new position in shares of J. M. Smucker in the 3rd quarter valued at approximately $29,000. MUFG Securities EMEA plc acquired a new position in shares of J. M. Smucker in the 2nd quarter valued at approximately $31,000. First Horizon Corp acquired a new position in shares of J. M. Smucker in the 3rd quarter valued at approximately $56,000. Finally, Fairway Wealth LLC acquired a new position in J. M. Smucker during the 3rd quarter worth approximately $59,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

J. M. Smucker Price Performance

Shares of NYSE:SJM opened at $96.79 on Thursday. The company has a quick ratio of 0.35, a current ratio of 0.84 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $10.32 billion, a PE ratio of -8.21, a P/E/G ratio of 4.14 and a beta of 0.27. The J. M. Smucker Company has a twelve month low of $88.25 and a twelve month high of $119.39. The company has a 50-day moving average price of $100.96 and a two-hundred day moving average price of $102.42.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.27 by $0.11. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.32 billion. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The company's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business earned $2.61 earnings per share. Equities analysts forecast that The J. M. Smucker Company will post 9.04 EPS for the current year.

J. M. Smucker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Friday, May 15th. J. M. Smucker's dividend payout ratio (DPR) is currently -37.32%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of J. M. Smucker from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Wednesday, April 8th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of J. M. Smucker in a research note on Monday, April 20th. Morgan Stanley reduced their price objective on shares of J. M. Smucker from $118.00 to $104.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 23rd. BTIG Research began coverage on shares of J. M. Smucker in a research note on Monday, April 13th. They issued a "buy" rating and a $120.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of J. M. Smucker from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Ten research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $117.25.

J. M. Smucker Profile

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company's main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker's core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker's® fruit spreads, Jif® peanut butter, Folgers® and Dunkin'® coffees, and Café Bustelo® coffee.

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