HighTower Advisors LLC Acquires 6,460 Shares of The J. M. Smucker Company $SJM

Key Points

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HighTower Advisors LLC increased its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 11.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,914 shares of the company's stock after acquiring an additional 6,460 shares during the quarter. HighTower Advisors LLC owned about 0.06% of J. M. Smucker worth $7,213,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Utah Retirement Systems grew its stake in J. M. Smucker by 0.6% during the fourth quarter. Utah Retirement Systems now owns 17,146 shares of the company's stock valued at $1,888,000 after acquiring an additional 100 shares in the last quarter. Wallace Capital Management Inc. lifted its position in J. M. Smucker by 4.9% during the fourth quarter. Wallace Capital Management Inc. now owns 2,135 shares of the company's stock valued at $235,000 after purchasing an additional 100 shares during the last quarter. Forum Financial Management LP lifted its position in J. M. Smucker by 3.9% during the first quarter. Forum Financial Management LP now owns 3,113 shares of the company's stock valued at $369,000 after purchasing an additional 116 shares during the last quarter. SouthState Corp lifted its position in J. M. Smucker by 6.4% during the first quarter. SouthState Corp now owns 1,976 shares of the company's stock valued at $234,000 after purchasing an additional 118 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV lifted its position in J. M. Smucker by 2.6% during the first quarter. Rowlandmiller & PARTNERS.ADV now owns 4,653 shares of the company's stock valued at $551,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.

J. M. Smucker Price Performance

NYSE SJM opened at $111.53 on Tuesday. The J. M. Smucker Company has a 52 week low of $93.30 and a 52 week high of $125.42. The firm has a market capitalization of $11.88 billion, a P/E ratio of -9.65, a PEG ratio of 8.42 and a beta of 0.31. 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 company has a 50-day moving average price of $104.32 and a 200-day moving average price of $109.24.

J. M. Smucker (NYSE:SJM - Get Free Report) last released its quarterly earnings results on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, beating 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 firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the firm earned $2.66 EPS. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. Equities research analysts anticipate that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.40 annualized dividend and a yield of 3.9%. This is a positive change from J. M. Smucker's previous quarterly dividend of $1.08. J. M. Smucker's payout ratio is currently -38.06%.

Insider Transactions at J. M. Smucker

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 stock was bought at an average cost of $96.09 per share, with a total value of $100,894.50. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Zacks Research upgraded shares of J. M. Smucker to a "hold" rating in a research report on Monday, August 11th. Wells Fargo & Company restated an "overweight" rating and issued a $120.00 price objective (up from $115.00) on shares of J. M. Smucker in a report on Monday. Morgan Stanley boosted their price objective on shares of J. M. Smucker from $115.00 to $118.00 and gave the stock an "overweight" rating in a report on Monday. Bank of America lowered their price objective on shares of J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, June 11th. Finally, Stifel Nicolaus boosted their price objective on shares of J. M. Smucker from $106.00 to $110.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, J. M. Smucker presently has an average rating of "Moderate Buy" and a consensus price target of $117.58.

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.

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