Benjamin Edwards Inc. Has $2.42 Million Position in The J. M. Smucker Company (NYSE:SJM)

Key Points

• Benjamin Edwards Inc. has reduced its stake in J. M. Smucker by 10.0%, now holding 20,438 shares valued at approximately $2.42 million.
• J. M. Smucker recently declared a quarterly dividend of $1.10 per share, an increase from the previous $1.08, representing an annualized yield of 4.0%.
• In terms of stock performance, J. M. Smucker's share price increased by 0.2% on Tuesday, with a current market price of $110.96.

Benjamin Edwards Inc. trimmed its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,438 shares of the company's stock after selling 2,261 shares during the quarter. Benjamin Edwards Inc.'s holdings in J. M. Smucker were worth $2,420,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SJM. Marshall & Sterling Wealth Advisors Inc. bought 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 during the fourth quarter worth about $28,000. Measured Risk Portfolios Inc. bought a new stake in J. M. Smucker during the fourth quarter worth about $29,000. N.E.W. Advisory Services LLC acquired a new stake in J. M. Smucker during the first quarter worth about $30,000. Finally, Cooksen Wealth LLC acquired a new stake in J. M. Smucker during the first quarter worth about $33,000. Institutional investors own 81.66% of the company's stock.

Insider Activity

In other news, Director Tarang Amin acquired 1,050 shares of the stock in a transaction dated Thursday, June 12th. The stock was bought 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 directly owned 3,825 shares of the company's stock, valued at $367,544.25. This represents a 37.84% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.24% of the stock is owned by corporate insiders.

J. M. Smucker Price Performance

NYSE SJM traded up $1.62 during trading on Wednesday, hitting $112.99. 1,233,546 shares of the company's stock were exchanged, compared to its average volume of 1,687,429. The company has a current ratio of 0.81, a quick ratio of 0.35 and a debt-to-equity ratio of 1.16. The company has a market cap of $12.03 billion, a PE ratio of -9.77, a P/E/G ratio of 8.46 and a beta of 0.31. The J. M. Smucker Company has a fifty-two week low of $93.30 and a fifty-two week high of $125.42. The stock's 50 day moving average price is $104.31 and its two-hundred day moving average price is $109.11.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its earnings results on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.25 by $0.06. The firm had revenue of $2.14 billion during 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%. The business's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.66 earnings per share. Research analysts expect that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be paid a $1.10 dividend. This is an increase from J. M. Smucker's previous quarterly dividend of $1.08. This represents a $4.40 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, August 15th. J. M. Smucker's payout ratio is currently -37.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada assumed coverage on shares of J. M. Smucker in a research note on Monday, July 7th. They set an "outperform" rating and a $130.00 price objective on the stock. Jefferies Financial Group upgraded shares of J. M. Smucker from a "hold" rating to a "buy" rating and reduced their price objective for the stock from $118.00 to $115.00 in a research note on Wednesday, June 11th. Morgan Stanley reiterated an "overweight" rating and set a $124.00 price objective (up from $123.00) on shares of J. M. Smucker in a research note on Friday, June 6th. Stifel Nicolaus increased their price objective on shares of J. M. Smucker from $106.00 to $110.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. Finally, Bank of America reduced their price objective on shares of J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 11th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, J. M. Smucker has an average rating of "Moderate Buy" and an average price target of $117.67.

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.