Edgestream Partners L.P. Sells 26,837 Shares of The J. M. Smucker Company (NYSE:SJM)

Edgestream Partners L.P. lowered its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 72.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,455 shares of the company's stock after selling 26,837 shares during the period. Edgestream Partners L.P.'s holdings in J. M. Smucker were worth $1,238,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SJM. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in J. M. Smucker in the fourth quarter worth about $27,000. Minot DeBlois Advisors LLC purchased a new stake in J. M. Smucker during the 4th quarter valued at about $28,000. Cooksen Wealth LLC purchased a new stake in J. M. Smucker during the 1st quarter valued at about $33,000. Measured Risk Portfolios Inc. acquired a new position in J. M. Smucker in the 4th quarter worth about $29,000. Finally, Menard Financial Group LLC acquired a new position in shares of J. M. Smucker during the fourth quarter valued at approximately $46,000. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Stock Down 2.6%

Shares of NYSE SJM opened at $106.06 on Friday. The J. M. Smucker Company has a 52 week low of $93.30 and a 52 week high of $125.42. The stock has a market capitalization of $11.30 billion, a P/E ratio of -9.17, a PEG ratio of 8.20 and a beta of 0.31. 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 stock's fifty day moving average is $105.38 and its 200 day moving average is $108.51.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.18 billion. During the same quarter in the previous year, the firm posted $2.66 earnings per share. The company's revenue was down 2.8% on a year-over-year basis. Sell-side analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.40 annualized dividend and a dividend yield of 4.15%. This is a positive change from J. M. Smucker's previous quarterly dividend of $1.08. J. M. Smucker's dividend payout ratio is currently -37.37%.

Insider Buying and Selling at J. M. Smucker

In other J. M. Smucker news, Director Tarang Amin bought 1,050 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were bought at an average price of $96.09 per share, for a total transaction of $100,894.50. Following the acquisition, the director directly owned 3,825 shares of the company's stock, valued at approximately $367,544.25. The trade was 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 the SEC website. Corporate insiders own 2.24% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SJM. UBS Group decreased their price target 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. Wall Street Zen raised J. M. Smucker from a "sell" rating to a "hold" rating in a report on Friday, March 28th. Barclays dropped their price objective on J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 11th. Morgan Stanley reissued an "overweight" rating and set a $124.00 price target (up previously from $123.00) on shares of J. M. Smucker in a research note on Friday, June 6th. Finally, Stifel Nicolaus lowered their price target on J. M. Smucker from $120.00 to $106.00 and set a "hold" rating for the company in a report on Wednesday, June 11th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $117.33.

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.

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