D.A. Davidson & CO. cut its holdings in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 70.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,460 shares of the company's stock after selling 22,890 shares during the quarter. D.A. Davidson & CO.'s holdings in J. M. Smucker were worth $1,120,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of SJM. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of J. M. Smucker during the 4th quarter worth about $27,000. Minot DeBlois Advisors LLC bought a new position in shares of J. M. Smucker in the 4th quarter valued at approximately $28,000. Measured Risk Portfolios Inc. bought a new position in shares of J. M. Smucker in the 4th quarter valued at approximately $29,000. Menard Financial Group LLC bought a new position in shares of J. M. Smucker in the 4th quarter valued at approximately $46,000. Finally, Sandy Spring Bank raised its stake in shares of J. M. Smucker by 1,365.5% in the 4th quarter. Sandy Spring Bank now owns 425 shares of the company's stock valued at $47,000 after acquiring an additional 396 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.
J. M. Smucker Stock Performance
Shares of J. M. Smucker stock traded up $0.73 during trading on Wednesday, hitting $104.20. 2,043,680 shares of the stock were exchanged, compared to its average volume of 1,300,004. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of -9.01, a price-to-earnings-growth ratio of 7.80 and a beta of 0.31. The company has a fifty day moving average price of $106.64 and a 200-day moving average price of $108.78. The J. M. Smucker Company has a 1-year low of $93.30 and a 1-year high of $125.42. The company has a current ratio of 0.81, a quick ratio of 0.35 and a debt-to-equity ratio of 1.16.
J. M. Smucker (NYSE:SJM - Get Free Report) last posted its quarterly earnings data on Tuesday, June 10th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.25 by $0.06. The firm had revenue of $2.14 billion during 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 business's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.66 EPS. As a group, equities analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.
J. M. Smucker Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Friday, May 16th. J. M. Smucker's dividend payout ratio (DPR) is currently -37.37%.
Insiders Place Their Bets
In related news, Director Tarang Amin purchased 1,050 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was purchased at an average cost of $96.09 per share, with a total value of $100,894.50. Following the completion of the purchase, the director owned 3,825 shares in the company, valued at approximately $367,544.25. This trade represents a 37.84% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.24% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on SJM. Citigroup cut their price objective on 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. Barclays cut their price objective on J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 11th. Stifel Nicolaus dropped their price target on J. M. Smucker from $120.00 to $106.00 and set a "hold" rating on the stock in a research report on Wednesday, June 11th. Wall Street Zen raised J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Friday, March 28th. Finally, Jefferies Financial Group raised J. M. Smucker from a "hold" rating to a "buy" rating and dropped their price target for the stock from $118.00 to $115.00 in a research report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $117.33.
Get Our Latest Stock Report on SJM
J. M. Smucker Company Profile
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Free Report)
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.
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