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Banque Cantonale Vaudoise Invests $1.12 Million in The J. M. Smucker Company (NYSE:SJM)

J. M. Smucker logo with Consumer Staples background

Key Points

  • Banque Cantonale Vaudoise has acquired a new stake in The J. M. Smucker Company, investing approximately $1.12 million to purchase 9,496 shares during the first quarter.
  • J. M. Smucker announced a quarterly dividend increase to $1.10, up from $1.08, representing a yield of 4.1%, with the ex-dividend date set for August 15th.
  • Despite a 2.8% revenue decline year-over-year, J. M. Smucker reported earnings of $2.31 per share, surpassing analyst expectations by $0.06.
  • Interested in J. M. Smucker? Here are five stocks we like better.

Banque Cantonale Vaudoise bought a new stake in The J. M. Smucker Company (NYSE:SJM - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 9,496 shares of the company's stock, valued at approximately $1,124,000.

Other hedge funds have also bought and sold shares of the company. FMR LLC raised its stake in J. M. Smucker by 11.3% in the fourth quarter. FMR LLC now owns 3,734,305 shares of the company's stock valued at $411,222,000 after buying an additional 380,309 shares during the period. Geode Capital Management LLC raised its stake in J. M. Smucker by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 2,609,952 shares of the company's stock valued at $286,664,000 after acquiring an additional 58,231 shares during the period. Invesco Ltd. lifted its holdings in J. M. Smucker by 21.0% during the 4th quarter. Invesco Ltd. now owns 2,415,023 shares of the company's stock valued at $265,942,000 after purchasing an additional 418,878 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in J. M. Smucker by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,009,017 shares of the company's stock worth $221,232,000 after purchasing an additional 33,758 shares during the period. Finally, Ariel Investments LLC boosted its position in J. M. Smucker by 12.4% during the fourth quarter. Ariel Investments LLC now owns 1,832,861 shares of the company's stock worth $201,835,000 after purchasing an additional 201,576 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at J. M. Smucker

In other J. M. Smucker news, Director Tarang Amin bought 1,050 shares of the stock in a transaction on Thursday, June 12th. The stock was purchased at an average price of $96.09 per share, with a total value of $100,894.50. Following the completion of the purchase, the director owned 3,825 shares in the company, valued at $367,544.25. The trade was a 37.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 2.24% of the stock is currently owned by corporate insiders.

J. M. Smucker Price Performance

SJM stock opened at $107.24 on Friday. The company's 50-day moving average price is $104.67 and its two-hundred day moving average price is $108.61. The firm has a market cap of $11.42 billion, a P/E ratio of -9.28, a P/E/G ratio of 8.29 and a beta of 0.31. 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 J. M. Smucker Company has a 12 month low of $93.30 and a 12 month 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 earnings per share (EPS) for the quarter, beating 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 last year, the firm posted $2.66 earnings per share. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. On average, analysts anticipate that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be given a $1.10 dividend. This is a boost from J. M. Smucker's previous quarterly dividend of $1.08. This represents a $4.40 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, August 15th. J. M. Smucker's dividend payout ratio (DPR) is presently -38.06%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group cut their target price on shares of J. M. Smucker from $134.00 to $129.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Citigroup cut their price objective on shares of J. M. Smucker from $128.00 to $118.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Royal Bank Of Canada began coverage on J. M. Smucker in a report on Monday, July 7th. They set an "outperform" rating and a $130.00 price objective for the company. Wells Fargo & Company lowered their target price on J. M. Smucker from $135.00 to $115.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Finally, BNP Paribas Exane raised J. M. Smucker from an "underperform" rating to an "outperform" rating and set a $120.00 price objective on the stock in a report on Wednesday, July 9th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $117.67.

Check Out Our Latest Stock Analysis on J. M. Smucker

J. M. Smucker Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for J. M. Smucker (NYSE:SJM)

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