Carnegie Investment Counsel Takes $288,000 Position in The J. M. Smucker Company (NYSE:SJM)

Key Points

• Carnegie Investment Counsel has acquired a new stake in The J. M. Smucker Company, purchasing 2,495 shares valued at approximately $288,000.
• The J. M. Smucker Company recently declared a quarterly dividend of $1.10 per share, an increase from its previous dividend, resulting in a yearly yield of 4.03%.
• Analysts have provided mixed ratings on J. M. Smucker, with seven buy ratings, six hold ratings, and one strong buy rating, while the stock's average target price is currently $117.33.

Carnegie Investment Counsel acquired a new stake in The J. M. Smucker Company (NYSE:SJM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,495 shares of the company's stock, valued at approximately $288,000.

Other large investors have also modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in J. M. Smucker in the fourth quarter valued at $27,000. Minot DeBlois Advisors LLC acquired a new position in J. M. Smucker in the fourth quarter valued at $28,000. Measured Risk Portfolios Inc. acquired a new position in J. M. Smucker in the fourth quarter valued at $29,000. Cooksen Wealth LLC acquired a new position in J. M. Smucker in the first quarter valued at $33,000. Finally, Menard Financial Group LLC acquired a new position in J. M. Smucker in the fourth quarter valued at $46,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on SJM shares. BNP Paribas upgraded shares of J. M. Smucker from a "strong sell" rating to a "strong-buy" rating in a research note on Wednesday, July 9th. Barclays dropped their price objective on shares of J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 11th. Citigroup reduced their target price on shares of 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 upgraded shares of J. M. Smucker from a "hold" rating to a "buy" rating and reduced their target price for the stock from $118.00 to $115.00 in a research note on Wednesday, June 11th. Finally, Royal Bank Of Canada assumed coverage on shares of J. M. Smucker in a research note on Monday, July 7th. They issued an "outperform" rating and a $130.00 target price for the company. Six 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 company's stock. According to data from MarketBeat.com, J. M. Smucker currently has an average rating of "Moderate Buy" and a consensus target price of $117.33.

Insider Activity at J. M. Smucker

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

J. M. Smucker Stock Performance

NYSE:SJM opened at $109.11 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 J. M. Smucker Company has a fifty-two week low of $93.30 and a fifty-two week high of $125.42. The stock has a market cap of $11.62 billion, a PE ratio of -9.44, a price-to-earnings-growth ratio of 8.34 and a beta of 0.31. The firm's fifty day simple moving average is $104.99 and its 200-day simple moving average is $108.48.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share for the quarter, topping 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 in the prior year, the company posted $2.66 EPS. The business's revenue for the quarter was down 2.8% on a year-over-year basis. Analysts expect that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from J. M. Smucker's previous quarterly dividend of $1.08. J. M. Smucker's payout ratio is -37.37%.

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.

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