Blair William & Co. IL Lowers Holdings in The J. M. Smucker Company (NYSE:SJM)

Key Points

• Blair William & Co. IL reduced its stake in The J. M. Smucker Company by 33.3%, selling 22,120 shares, leaving them with 44,374 shares valued at approximately $5.25 million.
• Institutional investors now own 81.66% of J. M. Smucker, with several firms significantly increasing their holdings in the past quarter.
• The J. M. Smucker Company recently declared a quarterly dividend of $1.10 per share, reflecting a 4.0% yield, which is an increase from the previous dividend of $1.08.

Blair William & Co. IL reduced its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 33.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 44,374 shares of the company's stock after selling 22,120 shares during the quarter. Blair William & Co. IL's holdings in J. M. Smucker were worth $5,254,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SJM. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in J. M. Smucker during the fourth quarter valued at about $27,000. Minot DeBlois Advisors LLC purchased a new stake in J. M. Smucker during the fourth quarter valued at about $28,000. N.E.W. Advisory Services LLC purchased a new stake in J. M. Smucker during the first quarter valued at about $30,000. Cooksen Wealth LLC purchased a new stake in J. M. Smucker during the first quarter valued at about $33,000. Finally, Measured Risk Portfolios Inc. purchased a new stake in shares of J. M. Smucker in the fourth quarter worth about $29,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Price Performance

Shares of SJM stock traded up $1.88 during trading on Thursday, hitting $110.91. The company had a trading volume of 1,044,993 shares, compared to its average volume of 1,933,580. 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 stock's 50-day moving average is $104.37 and its two-hundred day moving average is $108.88. The stock has a market capitalization of $11.81 billion, a price-to-earnings 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.

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, 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 business earned $2.66 earnings per share. The business's quarterly revenue was down 2.8% on a year-over-year basis. As a group, analysts predict 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 issued a $1.10 dividend. This is a positive change from J. M. Smucker's previous quarterly dividend of $1.08. This represents a $4.40 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, August 15th. J. M. Smucker's dividend payout ratio (DPR) is -37.37%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup lowered their price target on shares of J. M. Smucker from $128.00 to $118.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. UBS Group lowered their price target 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. BNP Paribas raised shares of J. M. Smucker from a "strong sell" rating to a "strong-buy" rating in a report on Wednesday, July 9th. Morgan Stanley reissued an "overweight" rating and issued a $124.00 price target (up from $123.00) on shares of J. M. Smucker in a report on Friday, June 6th. Finally, Barclays lowered their price target on shares of J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 11th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, J. M. Smucker presently has a consensus rating of "Moderate Buy" and a consensus price target of $117.67.

Insider Activity

In related news, Director Tarang Amin purchased 1,050 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were acquired at an average price of $96.09 per share, for a total transaction of $100,894.50. Following the completion of the acquisition, the director directly owned 3,825 shares in the company, valued at approximately $367,544.25. The trade was a 37.84% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.24% of the company's stock.

About J. M. Smucker

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.