Bessemer Group Inc. Has $1.01 Million Position in The J. M. Smucker Company (NYSE:SJM)

Bessemer Group Inc. cut its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 67.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,533 shares of the company's stock after selling 17,465 shares during the quarter. Bessemer Group Inc.'s holdings in J. M. Smucker were worth $1,009,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. bought a new stake in J. M. Smucker in the fourth quarter valued at approximately $27,000. Minot DeBlois Advisors LLC bought a new stake in shares of J. M. Smucker in the 4th quarter valued at $28,000. Measured Risk Portfolios Inc. acquired a new stake in J. M. Smucker during the 4th quarter worth $29,000. Menard Financial Group LLC acquired a new stake in J. M. Smucker during the 4th quarter worth $46,000. Finally, Sandy Spring Bank lifted its holdings in J. M. Smucker by 1,365.5% during the fourth quarter. Sandy Spring Bank now owns 425 shares of the company's stock worth $47,000 after acquiring an additional 396 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Bank of America dropped their price target on J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 11th. Citigroup lowered their target price on J. M. Smucker from $128.00 to $118.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Jefferies Financial Group raised shares of J. M. Smucker from a "hold" rating to a "buy" rating and cut their price target for the company from $118.00 to $115.00 in a research note on Wednesday, June 11th. Stifel Nicolaus reduced their price target on shares of J. M. Smucker from $120.00 to $106.00 and set a "hold" rating for the company in a report on Wednesday, June 11th. Finally, UBS Group dropped their price objective on shares of J. M. Smucker from $134.00 to $129.00 and set a "buy" rating on the stock in a report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, J. M. Smucker has a consensus rating of "Hold" and a consensus target price of $115.80.

Insider Activity at J. M. Smucker

In other news, Director Tarang Amin bought 1,050 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were acquired at an average cost of $96.09 per share, for a total transaction of $100,894.50. Following the completion of the acquisition, the director owned 3,825 shares in the company, valued at approximately $367,544.25. This represents a 37.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.40% of the company's stock.

J. M. Smucker Stock Up 4.8%

Shares of SJM stock traded up $4.67 during trading on Tuesday, reaching $102.87. The company's stock had a trading volume of 3,110,197 shares, compared to its average volume of 1,502,606. The J. M. Smucker Company has a one year low of $93.30 and a one year high of $125.42. The business has a fifty day moving average price of $108.11 and a 200-day moving average price of $109.08. The company has a market cap of $10.96 billion, a price-to-earnings ratio of -8.90, a price-to-earnings-growth ratio of 7.31 and a beta of 0.35. The company has a quick ratio of 0.35, a current ratio of 0.81 and a debt-to-equity ratio of 1.16.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its quarterly 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 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%. The company's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.66 EPS. Analysts anticipate that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Friday, May 16th. J. M. Smucker's dividend payout ratio is currently -37.37%.

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.