Charles Schwab Investment Management Inc. Raises Stake in The J. M. Smucker Company (NYSE:SJM)

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in The J. M. Smucker Company by 1.5%, owning over 1 million shares worth approximately $120.5 million as of the end of the first quarter.
• Several other institutional investors also significantly adjusted their positions in J. M. Smucker, with hedge funds now holding 81.66% of the company's stock.
• J. M. Smucker recently announced a quarterly dividend increase to $1.10, representing a yield of 4.0% and showing a positive trend in their commitment to shareholders.

Charles Schwab Investment Management Inc. boosted its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 1.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,017,805 shares of the company's stock after purchasing an additional 14,763 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.96% of J. M. Smucker worth $120,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

J. M. Smucker Price Performance

Shares of SJM traded up $1.62 during trading hours on Wednesday, hitting $112.99. 1,233,546 shares of the stock were exchanged, compared to its average volume of 1,687,429. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.35 and a current ratio of 0.81. The J. M. Smucker Company has a 12-month low of $93.30 and a 12-month high of $125.42. The company has a market cap of $12.03 billion, a price-to-earnings ratio of -9.77, a price-to-earnings-growth ratio of 8.46 and a beta of 0.31. The stock's 50-day moving average price is $104.31 and its two-hundred day moving average price is $109.11.

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. J. M. Smucker had a positive return on equity of 15.20% and a negative net margin of 14.10%. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.18 billion. During the same period in the previous year, the business earned $2.66 earnings per share. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts expect that The J. M. Smucker Company will post 9.88 earnings per share for the current 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 $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, August 15th. This is an increase from J. M. Smucker's previous quarterly dividend of $1.08. J. M. Smucker's dividend payout ratio (DPR) is currently -37.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group decreased their target price on J. M. Smucker from $134.00 to $129.00 and set a "buy" rating for the company in a report on Friday, June 6th. Jefferies Financial Group raised J. M. Smucker from a "hold" rating to a "buy" rating and decreased their target price for the stock from $118.00 to $115.00 in a report on Wednesday, June 11th. BNP Paribas Exane raised J. M. Smucker from an "underperform" rating to an "outperform" rating and set a $120.00 target price for the company in a report on Wednesday, July 9th. Wells Fargo & Company decreased their target price on 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, Stifel Nicolaus lifted their price target on J. M. Smucker from $106.00 to $110.00 and gave the company a "hold" rating in a research report on Tuesday, July 29th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $117.67.

Insider Transactions at J. M. Smucker

In related news, Director Tarang Amin bought 1,050 shares of the company's stock in a transaction on Thursday, June 12th. The stock was bought at an average cost of $96.09 per share, for a total transaction of $100,894.50. Following the acquisition, the director directly owned 3,825 shares in the company, valued at $367,544.25. This represents a 37.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.24% of the stock is currently owned by insiders.

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.