The J. M. Smucker Company (NYSE:SJM) Shares Sold by Code Waechter LLC

Code Waechter LLC lowered its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 53.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,347 shares of the company's stock after selling 2,676 shares during the period. Code Waechter LLC's holdings in J. M. Smucker were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SJM. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in J. M. Smucker during the fourth quarter worth about $27,000. Minot DeBlois Advisors LLC purchased a new stake in J. M. Smucker during the fourth quarter worth about $28,000. Measured Risk Portfolios Inc. purchased a new stake in J. M. Smucker during the fourth quarter worth about $29,000. Cooksen Wealth LLC purchased a new stake in J. M. Smucker during the first quarter worth about $33,000. Finally, Menard Financial Group LLC purchased a new stake in J. M. Smucker during the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Analysts Set New Price Targets

SJM has been the topic of a number of research analyst reports. BNP Paribas Exane raised shares of J. M. Smucker from an "underperform" rating to an "outperform" rating and set a $120.00 price objective on the stock in a report on Wednesday. Wall Street Zen raised shares of J. M. Smucker from a "sell" rating to a "hold" rating in a report on Friday, March 28th. Jefferies Financial Group raised shares of J. M. Smucker from a "hold" rating to a "buy" rating and reduced their price target for the company from $118.00 to $115.00 in a report on Wednesday, June 11th. Barclays reduced 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. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $124.00 price target (up previously from $123.00) on shares of J. M. Smucker in a report on Friday, June 6th. 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. According to MarketBeat.com, J. M. Smucker currently has an average rating of "Moderate Buy" and an average price target of $117.33.

J. M. Smucker Trading Up 0.5%

Shares of SJM traded up $0.56 on Thursday, hitting $104.73. 2,796,624 shares of the stock traded hands, compared to its average volume of 1,310,129. 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 firm has a market capitalization of $11.15 billion, a P/E ratio of -9.06, a P/E/G ratio of 7.85 and a beta of 0.31. The stock's 50 day moving average is $106.40 and its two-hundred day moving average is $108.75. The J. M. Smucker Company has a 1 year low of $93.30 and a 1 year high of $125.42.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings data on Tuesday, June 10th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.06. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.18 billion. J. M. Smucker had a negative net margin of 14.10% and a positive return on equity of 15.20%. The company's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.66 earnings per share. As a group, sell-side analysts predict that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Friday, May 16th. J. M. Smucker's payout ratio is currently -37.37%.

Insiders Place Their Bets

In other news, Director Tarang Amin bought 1,050 shares of J. M. Smucker stock in a transaction that occurred 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 of the company's stock, valued at $367,544.25. The trade was a 37.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.