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

Code Waechter LLC reduced its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 53.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in J. M. Smucker in the 4th quarter worth about $27,000. Minot DeBlois Advisors LLC purchased a new position in J. M. Smucker during the fourth quarter valued at approximately $28,000. Cooksen Wealth LLC purchased a new position in J. M. Smucker during the first quarter valued at approximately $33,000. Measured Risk Portfolios Inc. purchased a new position in J. M. Smucker during the fourth quarter valued at approximately $29,000. Finally, Menard Financial Group LLC purchased a new position in J. M. Smucker during the fourth quarter valued at approximately $46,000. 81.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Citigroup cut 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 report on Wednesday, June 11th. Wells Fargo & Company cut their price objective on shares of J. M. Smucker from $135.00 to $115.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Bank of America cut their price objective on shares of J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, June 11th. UBS Group cut their price objective on shares of J. M. Smucker from $134.00 to $129.00 and set a "buy" rating on the stock in a report on Friday, June 6th. Finally, Jefferies Financial Group raised shares of J. M. Smucker from a "hold" rating to a "buy" rating and cut their price objective for the company from $118.00 to $115.00 in a report on Wednesday, June 11th. Six equities research 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $117.33.

Insider Transactions at J. M. Smucker

In other J. M. Smucker news, Director Tarang Amin bought 1,050 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.24% of the stock is owned by corporate insiders.

J. M. Smucker Stock Performance

Shares of NYSE:SJM traded up $0.09 on Friday, hitting $104.75. 1,874,668 shares of the company were exchanged, compared to its average volume of 1,313,326. The J. M. Smucker Company has a 1-year low of $93.30 and a 1-year high of $125.42. The stock's 50 day moving average price is $106.02 and its 200 day moving average price is $108.66. 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 firm has a market capitalization of $11.16 billion, a P/E ratio of -9.06, a price-to-earnings-growth ratio of 7.89 and a beta of 0.31.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its quarterly earnings data 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 negative net margin of 14.10% and a positive return on equity of 15.20%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the firm posted $2.66 earnings per share. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. Sell-side analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Dividend Announcement

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

J. M. Smucker 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.