CCM Investment Group LLC Makes New $983,000 Investment in The J. M. Smucker Company (NYSE:SJM)

Key Points

• CCM Investment Group LLC invested $983,000 in The J. M. Smucker Company by acquiring 8,447 shares during the first quarter.
• The J. M. Smucker Company announced a quarterly dividend increase to $1.10, reflecting a 4.0% dividend yield, with the ex-dividend date set for August 15th.
• Analysts have generally positive outlooks for SJM, with several upgrades raising price targets, including a new price objective of $130.00 set by Royal Bank Of Canada.

CCM Investment Group LLC purchased a new stake in The J. M. Smucker Company (NYSE:SJM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,447 shares of the company's stock, valued at approximately $983,000.

A number of other large investors also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in J. M. Smucker in the 4th quarter valued at about $27,000. Minot DeBlois Advisors LLC purchased a new position in J. M. Smucker in the fourth quarter valued at approximately $28,000. N.E.W. Advisory Services LLC purchased a new stake in shares of J. M. Smucker during the first quarter valued at approximately $30,000. Cooksen Wealth LLC purchased a new stake in shares of J. M. Smucker during the first quarter valued at approximately $33,000. Finally, Measured Risk Portfolios Inc. acquired a new stake in shares of J. M. Smucker during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

J. M. Smucker Stock Performance

Shares of SJM stock traded up $1.62 during trading hours on Wednesday, reaching $112.99. 1,233,546 shares of the company's stock were exchanged, compared to its average volume of 1,687,429. The business has a fifty day moving average price of $104.31 and a 200-day moving average price of $109.11. 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 has a market capitalization of $12.03 billion, a P/E 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.

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, beating analysts' consensus estimates of $2.25 by $0.06. J. M. Smucker had a positive return on equity of 15.20% and a negative net margin of 14.10%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the company posted $2.66 earnings per share. J. M. Smucker's revenue was down 2.8% on a year-over-year basis. Analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 3.9%. This is an increase from J. M. Smucker's previous quarterly dividend of $1.08. The ex-dividend date is Friday, August 15th. J. M. Smucker's dividend payout ratio (DPR) is -37.37%.

Analysts Set New Price Targets

A number of research firms have commented on SJM. UBS Group decreased their price objective on shares of J. M. Smucker from $134.00 to $129.00 and set a "buy" rating for the company in a report on Friday, June 6th. Citigroup decreased 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 report on Wednesday, June 11th. Barclays decreased their price objective on shares of J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating for the company in a report on Wednesday, June 11th. BNP Paribas Exane raised shares of J. M. Smucker from an "underperform" rating to an "outperform" rating and set a $120.00 price objective for the company in a report on Wednesday, July 9th. Finally, Wells Fargo & Company decreased their price objective on shares of J. M. Smucker from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Six investment 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. According to MarketBeat.com, J. M. Smucker has an average rating of "Moderate Buy" and an average target price of $117.67.

Insider Transactions at J. M. Smucker

In related news, Director Tarang Amin bought 1,050 shares of J. M. Smucker stock in a transaction on Thursday, June 12th. The shares were purchased 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.24% of the company's stock.

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.