The J. M. Smucker Company (NYSE:SJM) Stake Lifted by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC grew its holdings in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,202 shares of the company's stock after buying an additional 5,089 shares during the quarter. Kingsview Wealth Management LLC owned 0.08% of J. M. Smucker worth $10,089,000 at the end of the most recent quarter.

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

J. M. Smucker Price Performance

NYSE SJM traded up $1.27 during trading on Thursday, reaching $108.87. The company's stock had a trading volume of 2,171,615 shares, compared to its average volume of 1,331,954. The stock has a market capitalization of $11.60 billion, a PE ratio of -9.42, a P/E/G ratio of 8.11 and a beta of 0.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.35. The firm has a fifty day moving average of $105.48 and a 200 day moving average of $108.54. The J. M. Smucker Company has a one year low of $93.30 and a one year 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, beating 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 company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.18 billion. During the same period in the prior year, the business posted $2.66 EPS. J. M. Smucker's quarterly revenue was down 2.8% compared to the same quarter last year. Analysts expect that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a $1.10 dividend. This is an increase from J. M. Smucker's previous quarterly dividend of $1.08. The ex-dividend date is Friday, August 15th. This represents a $4.40 dividend on an annualized basis and a yield of 4.04%. J. M. Smucker's payout ratio is -37.37%.

Insider Activity at J. M. Smucker

In other news, Director Tarang Amin bought 1,050 shares of the stock in a transaction dated Thursday, June 12th. The shares were 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 $367,544.25. The trade was a 37.84% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SJM. Wells Fargo & Company cut 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. Morgan Stanley reissued an "overweight" rating and set a $124.00 price objective (up from $123.00) on shares of J. M. Smucker in a report on Friday, June 6th. BNP Paribas raised J. M. Smucker from a "strong sell" rating to a "strong-buy" rating in a report on Wednesday, July 9th. BNP Paribas Exane raised J. M. Smucker from an "underperform" rating to an "outperform" rating and set a $120.00 price target for the company in a research note on Wednesday, July 9th. Finally, Wall Street Zen raised J. M. Smucker from a "sell" rating to a "hold" rating in a research note on Friday, March 28th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $117.33.

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.