Bank of Nova Scotia Sells 3,089 Shares of The J. M. Smucker Company (NYSE:SJM)

Bank of Nova Scotia reduced its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 21.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,111 shares of the company's stock after selling 3,089 shares during the quarter. Bank of Nova Scotia's holdings in J. M. Smucker were worth $1,316,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SJM. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of J. M. Smucker in the fourth quarter valued at about $27,000. Minot DeBlois Advisors LLC bought a new stake in J. M. Smucker in the 4th quarter worth about $28,000. Measured Risk Portfolios Inc. purchased a new stake in J. M. Smucker in the 4th quarter valued at about $29,000. N.E.W. Advisory Services LLC bought a new position in shares of J. M. Smucker during the 1st quarter worth approximately $30,000. Finally, Cooksen Wealth LLC bought a new position in shares of J. M. Smucker during the 1st quarter worth approximately $33,000. 81.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at J. M. Smucker

In related news, Director Tarang Amin acquired 1,050 shares of the company's stock in a transaction that occurred on 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 acquisition, the director owned 3,825 shares of the company's stock, valued at approximately $367,544.25. This trade represents a 37.84% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.24% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SJM. Morgan Stanley reaffirmed an "overweight" rating and issued a $124.00 target price (up from $123.00) on shares of J. M. Smucker in a report on Friday, June 6th. BNP Paribas Exane upgraded J. M. Smucker from an "underperform" rating to an "outperform" rating and set a $120.00 price objective for the company in a research note on Wednesday, July 9th. Citigroup lowered their target price on J. M. Smucker from $128.00 to $118.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Bank of America cut their price target on shares of J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, June 11th. Finally, UBS Group decreased their price objective on shares of J. M. Smucker from $134.00 to $129.00 and set a "buy" rating for the company in a report on Friday, June 6th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $117.67.

J. M. Smucker Price Performance

NYSE SJM opened at $110.91 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The company has a market cap of $11.81 billion, a PE ratio of -9.59, a price-to-earnings-growth ratio of 8.28 and a beta of 0.31. The J. M. Smucker Company has a 52 week low of $93.30 and a 52 week high of $125.42. The firm's 50-day simple moving average is $104.37 and its two-hundred day simple moving average is $108.88.

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

J. M. Smucker Increases Dividend

The business 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 $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 4.0%. This is a boost from J. M. Smucker's previous quarterly dividend of $1.08. The ex-dividend date is Friday, August 15th. J. M. Smucker's dividend payout ratio (DPR) is presently -37.37%.

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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