The J. M. Smucker Company (NYSE:SJM) Stake Increased by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. increased its stake in The J. M. Smucker Company by 14.8%, acquiring 2,479 additional shares, bringing its total shareholding to 19,206, valued at approximately $2.27 million.
• J. M. Smucker recently announced a **quarterly dividend increase** from $1.08 to **$1.10 per share**, representing an annualized yield of **3.94%**.
• Several analysts have upgraded their ratings on J. M. Smucker, with Jefferies Financial Group moving from a "hold" to a "buy" rating, while the stock has an average rating of **"Moderate Buy"** across research reports.

Avantax Advisory Services Inc. raised its holdings in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 14.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,206 shares of the company's stock after acquiring an additional 2,479 shares during the quarter. Avantax Advisory Services Inc.'s holdings in J. M. Smucker were worth $2,274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of J. M. Smucker during the fourth quarter worth about $112,978,000. Pictet Asset Management Holding SA grew its holdings in shares of J. M. Smucker by 13.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 64,092 shares of the company's stock worth $7,058,000 after buying an additional 7,825 shares in the last quarter. DnB Asset Management AS grew its holdings in shares of J. M. Smucker by 2.6% during the fourth quarter. DnB Asset Management AS now owns 25,236 shares of the company's stock worth $2,779,000 after buying an additional 630 shares in the last quarter. Allstate Corp purchased a new stake in shares of J. M. Smucker during the fourth quarter worth about $361,000. Finally, Schroder Investment Management Group grew its holdings in shares of J. M. Smucker by 42.3% during the fourth quarter. Schroder Investment Management Group now owns 18,509 shares of the company's stock worth $2,034,000 after buying an additional 5,505 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at J. M. Smucker

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

J. M. Smucker Trading Up 0.8%

SJM stock traded up $0.82 during midday trading on Friday, reaching $108.16. 1,592,961 shares of the company's stock traded hands, compared to its average volume of 1,583,709. The company has a market capitalization of $11.52 billion, a P/E ratio of -9.36, a PEG ratio of 8.29 and a beta of 0.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.35. The J. M. Smucker Company has a fifty-two week low of $93.30 and a fifty-two week high of $125.42. The business has a 50-day moving average price of $104.67 and a two-hundred day moving average price of $108.61.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its earnings results on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.25 by $0.06. J. M. Smucker had a negative net margin of 14.10% and a positive return on equity of 15.20%. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.18 billion. During the same period in the previous year, the company posted $2.66 earnings per share. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. Equities research analysts forecast that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from J. M. Smucker's previous quarterly dividend of $1.08. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.1%. J. M. Smucker's dividend payout ratio is presently -38.06%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SJM. Citigroup decreased their target price on shares of J. M. Smucker from $128.00 to $118.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. Wells Fargo & Company decreased their target price on shares of J. M. Smucker from $135.00 to $115.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. UBS Group decreased their target price on shares of J. M. Smucker from $134.00 to $129.00 and set a "buy" rating on the stock in a research report on Friday, June 6th. BNP Paribas raised shares of J. M. Smucker from a "strong sell" rating to a "strong-buy" rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $124.00 target price (up from $123.00) on shares of J. M. Smucker in a research report on Friday, June 6th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, J. M. Smucker currently has a consensus rating of "Moderate Buy" and an average price target of $117.67.

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.