Invesco Ltd. lifted its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 8.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,623,254 shares of the company's stock after buying an additional 208,231 shares during the period. Invesco Ltd. owned approximately 2.47% of J. M. Smucker worth $310,620,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Merit Financial Group LLC purchased a new position in shares of J. M. Smucker in the 1st quarter worth approximately $203,000. Farther Finance Advisors LLC boosted its position in shares of J. M. Smucker by 113.5% in the 1st quarter. Farther Finance Advisors LLC now owns 2,923 shares of the company's stock worth $346,000 after purchasing an additional 1,554 shares in the last quarter. Costello Asset Management INC acquired a new stake in shares of J. M. Smucker in the 1st quarter worth $50,000. Schonfeld Strategic Advisors LLC boosted its position in shares of J. M. Smucker by 124.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 13,355 shares of the company's stock worth $1,471,000 after purchasing an additional 7,414 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of J. M. Smucker by 55.5% in the 4th quarter. Sterling Capital Management LLC now owns 6,117 shares of the company's stock worth $674,000 after purchasing an additional 2,182 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.
J. M. Smucker Stock Performance
SJM stock traded up $1.62 during trading on Wednesday, reaching $112.99. The company had a trading volume of 1,233,546 shares, compared to its average volume of 1,687,429. 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 J. M. Smucker Company has a twelve month low of $93.30 and a twelve month high of $125.42. The firm has a 50-day simple moving average of $104.31 and a 200-day simple moving average of $109.11. The company has a market cap of $12.03 billion, a price-to-earnings ratio of -9.77, a price-to-earnings-growth ratio of 8.46 and a beta of 0.31.
J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.18 billion. During the same period in the previous year, the business posted $2.66 EPS. The business's quarterly revenue was down 2.8% compared to the same quarter last year. As a group, sell-side analysts expect that The J. M. Smucker Company will post 9.88 earnings per share for the current year.
J. M. Smucker Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, August 15th. This is a positive change from J. M. Smucker's previous quarterly dividend of $1.08. J. M. Smucker's dividend payout ratio (DPR) is presently -37.37%.
Insider Buying and Selling
In other J. M. Smucker news, Director Tarang Amin acquired 1,050 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was acquired at an average cost of $96.09 per share, for a total transaction of $100,894.50. Following the purchase, the director owned 3,825 shares in the company, valued at approximately $367,544.25. The trade was a 37.84% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.24% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on SJM. BNP Paribas Exane raised J. M. Smucker from an "underperform" rating to an "outperform" rating and set a $120.00 price objective for the company in a research report on Wednesday, July 9th. Citigroup lowered their price objective on J. M. Smucker from $128.00 to $118.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Jefferies Financial Group upgraded shares of J. M. Smucker from a "hold" rating to a "buy" rating and lowered their target price for the stock from $118.00 to $115.00 in a research note on Wednesday, June 11th. Wells Fargo & Company lowered their target price on shares of J. M. Smucker from $135.00 to $115.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $124.00 target price (up from $123.00) on shares of J. M. Smucker in a research note on Friday, June 6th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $117.67.
Read Our Latest Stock Report on J. M. Smucker
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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