ING Groep NV Boosts Stake in The J. M. Smucker Company (NYSE:SJM)

Key Points

• ING Groep NV has increased its stake in The J. M. Smucker Company by 507.6%, acquiring an additional 70,261 shares, bringing its total to 84,104 shares, valued at approximately $9.96 million.
• The J. M. Smucker Company announced a quarterly dividend increase to $1.10 per share, reflecting a positive change from its previous dividend of $1.08.
• Despite an EPS of $2.31 that beat analyst expectations, J. M. Smucker's revenue fell by 2.8% year-over-year, highlighting challenges in maintaining growth.

ING Groep NV increased its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 507.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,104 shares of the company's stock after buying an additional 70,261 shares during the quarter. ING Groep NV owned about 0.08% of J. M. Smucker worth $9,959,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Merit Financial Group LLC acquired a new stake in shares of J. M. Smucker during the first quarter worth $203,000. Farther Finance Advisors LLC increased its stake in J. M. Smucker by 113.5% in the 1st quarter. Farther Finance Advisors LLC now owns 2,923 shares of the company's stock valued at $346,000 after buying an additional 1,554 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its position in shares of J. M. Smucker by 124.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 13,355 shares of the company's stock valued at $1,471,000 after purchasing an additional 7,414 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of J. M. Smucker by 55.5% during the 4th quarter. Sterling Capital Management LLC now owns 6,117 shares of the company's stock valued at $674,000 after acquiring an additional 2,182 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in J. M. Smucker by 1.6% during the first quarter. State of Alaska Department of Revenue now owns 20,968 shares of the company's stock valued at $2,482,000 after purchasing an additional 335 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

J. M. Smucker Stock Up 1.7%

Shares of SJM traded up $1.88 during mid-day trading on Thursday, hitting $110.91. 1,044,993 shares of the company's stock were exchanged, compared to its average volume of 1,933,580. 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 company has a market cap of $11.81 billion, a price-to-earnings ratio of -9.59, a P/E/G ratio of 8.28 and a beta of 0.31. The stock's 50-day moving average is $104.37 and its 200-day moving average is $108.88. The J. M. Smucker Company has a fifty-two week low of $93.30 and a fifty-two week high of $125.42.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.06. J. M. Smucker had a positive return on equity of 15.20% and a negative net margin of 14.10%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter last year, the company earned $2.66 EPS. The business's quarterly revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts anticipate that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be issued a dividend of $1.10 per share. This is a boost from J. M. Smucker's previous quarterly dividend of $1.08. This represents a $4.40 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, August 15th. J. M. Smucker's payout ratio is presently -37.37%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. BNP Paribas upgraded shares of J. M. Smucker from a "strong sell" rating to a "strong-buy" rating in a research note on Wednesday, July 9th. Wells Fargo & Company lowered their price objective on J. M. Smucker from $135.00 to $115.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. 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 report on Wednesday, June 11th. UBS Group decreased their target price on J. M. Smucker from $134.00 to $129.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Finally, Bank of America lowered their target price 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. Six equities 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $117.67.

Insider Transactions at J. M. Smucker

In other J. M. Smucker news, Director Tarang Amin acquired 1,050 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was acquired at an average cost of $96.09 per share, with a total value of $100,894.50. Following the purchase, the director directly 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 filing with the SEC, which is available through this link. Corporate 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.