Cerity Partners LLC Has $13.95 Million Holdings in The J. M. Smucker Company (NYSE:SJM)

Cerity Partners LLC lifted its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,772 shares of the company's stock after acquiring an additional 15,824 shares during the quarter. Cerity Partners LLC owned 0.11% of J. M. Smucker worth $13,945,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SJM. Proficio Capital Partners LLC purchased a new stake in J. M. Smucker during the fourth quarter valued at about $4,802,000. Independent Advisor Alliance boosted its stake in J. M. Smucker by 14.4% in the 4th quarter. Independent Advisor Alliance now owns 5,841 shares of the company's stock worth $643,000 after purchasing an additional 737 shares during the period. Avantax Advisory Services Inc. grew its position in J. M. Smucker by 6.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 16,727 shares of the company's stock worth $1,842,000 after purchasing an additional 983 shares in the last quarter. Achmea Investment Management B.V. grew its position in J. M. Smucker by 10.4% during the 4th quarter. Achmea Investment Management B.V. now owns 10,609 shares of the company's stock worth $1,168,000 after purchasing an additional 999 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in J. M. Smucker by 17.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 30,014 shares of the company's stock valued at $3,298,000 after purchasing an additional 4,448 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SJM. Stifel Nicolaus decreased their target price on J. M. Smucker from $120.00 to $106.00 and set a "hold" rating for the company in a research report on Wednesday, June 11th. UBS Group decreased their price objective on J. M. Smucker from $134.00 to $129.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Wall Street Zen upgraded J. M. Smucker from a "sell" rating to a "hold" rating in a report on Friday, March 28th. Wells Fargo & Company decreased their price target 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. Finally, Citigroup dropped their price objective on shares of J. M. Smucker from $128.00 to $118.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $117.33.

J. M. Smucker Stock Down 0.4%

J. M. Smucker stock traded down $0.39 during mid-day trading on Tuesday, hitting $104.32. 1,840,068 shares of the company's stock were exchanged, compared to its average volume of 1,322,327. The J. M. Smucker Company has a 1-year low of $93.30 and a 1-year high of $125.42. The stock has a 50 day moving average of $105.64 and a two-hundred day moving average of $108.55. 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 stock has a market cap of $11.11 billion, a P/E ratio of -9.02, a P/E/G ratio of 7.89 and a beta of 0.31.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, beating the consensus estimate 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 company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the company posted $2.66 earnings per share. The company's revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, analysts anticipate that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend was Friday, May 16th. J. M. Smucker's dividend payout ratio is -37.37%.

Insider Transactions at J. M. Smucker

In other J. M. Smucker news, Director Tarang Amin acquired 1,050 shares of the company's stock in a transaction dated 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 purchase, the director owned 3,825 shares of the company's stock, valued at approximately $367,544.25. This trade represents a 37.84% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.24% of the stock is owned by company insiders.

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.