Greenleaf Trust Decreases Stock Position in The J. M. Smucker Company (NYSE:SJM)

Greenleaf Trust lowered its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 30.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,500 shares of the company's stock after selling 2,460 shares during the period. Greenleaf Trust's holdings in J. M. Smucker were worth $651,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new position in shares of J. M. Smucker in the fourth quarter worth about $112,978,000. LSV Asset Management raised its holdings in J. M. Smucker by 3,599.5% during the 4th quarter. LSV Asset Management now owns 929,400 shares of the company's stock worth $102,346,000 after buying an additional 904,278 shares during the period. Two Sigma Advisers LP increased its holdings in shares of J. M. Smucker by 76.7% in the 4th quarter. Two Sigma Advisers LP now owns 1,078,892 shares of the company's stock valued at $118,808,000 after purchasing an additional 468,200 shares during the period. FIL Ltd increased its holdings in shares of J. M. Smucker by 87.8% in the 4th quarter. FIL Ltd now owns 925,000 shares of the company's stock valued at $101,861,000 after purchasing an additional 432,500 shares during the period. Finally, Invesco Ltd. increased its holdings in J. M. Smucker by 21.0% in the fourth quarter. Invesco Ltd. now owns 2,415,023 shares of the company's stock worth $265,942,000 after buying an additional 418,878 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

J. M. Smucker Stock Performance

Shares of NYSE SJM traded down $0.39 during midday trading on Tuesday, hitting $104.32. 1,792,373 shares of the company's stock were exchanged, compared to its average volume of 1,321,814. 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 J. M. Smucker Company has a 12 month low of $93.30 and a 12 month high of $125.42. The company's 50 day moving average price is $106.02 and its 200 day moving average price is $108.63. The firm has a market capitalization of $11.11 billion, a PE ratio of -9.02, a price-to-earnings-growth ratio of 7.89 and a beta of 0.31.

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

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were issued a $1.08 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.32 dividend on an annualized basis and a yield of 4.14%. J. M. Smucker's payout ratio is presently -37.37%.

Analyst Upgrades and Downgrades

SJM has been the subject of a number of recent analyst reports. Wall Street Zen raised J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Friday, March 28th. UBS Group lowered their target price on J. M. Smucker from $134.00 to $129.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Bank of America decreased their price target on J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, June 11th. Morgan Stanley reiterated 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. Finally, Barclays reduced their target price on 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. Six 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $117.33.

Insider Buying and Selling at J. M. Smucker

In related news, Director Tarang Amin purchased 1,050 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was bought at an average price 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 represents a 37.84% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 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.