The J. M. Smucker Company (NYSE:SJM) Shares Acquired by LSV Asset Management

Key Points

• LSV Asset Management has increased its stake in The J. M. Smucker Company by 48.4%, owning approximately 1.30% of the company, valued at around $163.3 million.
• The company has declared a quarterly dividend of $1.10 per share, up from $1.08, with a dividend yield of 4.1%.
• Analysts have set a consensus price target of $117.67 for J. M. Smucker, with ratings ranging from "hold" to "strong buy".

LSV Asset Management raised its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 48.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,379,320 shares of the company's stock after purchasing an additional 449,920 shares during the period. LSV Asset Management owned 1.30% of J. M. Smucker worth $163,325,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Marshall & Sterling Wealth Advisors Inc. purchased a new position in J. M. Smucker during the fourth quarter worth $27,000. Minot DeBlois Advisors LLC acquired a new position in J. M. Smucker in the 4th quarter valued at about $28,000. Measured Risk Portfolios Inc. acquired a new stake in shares of J. M. Smucker during the 4th quarter worth about $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of J. M. Smucker during the first quarter worth about $30,000. Finally, Cooksen Wealth LLC purchased a new stake in shares of J. M. Smucker during the first quarter worth about $33,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

J. M. Smucker Stock Up 1.7%

J. M. Smucker stock traded up $1.83 during midday trading on Monday, hitting $110.08. 1,640,267 shares of the stock were exchanged, compared to its average volume of 2,042,404. The J. M. Smucker Company has a 1 year low of $93.30 and a 1 year high of $125.42. 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 market cap of $11.72 billion, a P/E ratio of -9.52, a P/E/G ratio of 8.22 and a beta of 0.31. The company has a 50 day moving average price of $104.58 and a two-hundred day moving average price of $108.76.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its quarterly earnings results on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.25 by $0.06. The firm 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%. J. M. Smucker's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.66 earnings per share. On average, sell-side analysts predict 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 $1.10 dividend. This is an increase 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 dividend payout ratio is presently -37.37%.

Insiders Place Their Bets

In other news, Director Tarang Amin bought 1,050 shares of J. M. Smucker stock in a transaction on Thursday, June 12th. The shares were bought at an average price of $96.09 per share, with a total value of $100,894.50. Following the acquisition, the director directly owned 3,825 shares in the company, valued at approximately $367,544.25. This represents a 37.84% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SJM has been the subject of several recent analyst reports. BNP Paribas Exane raised shares of J. M. Smucker from an "underperform" rating to an "outperform" rating and set a $120.00 target price for the company in a research note on Wednesday, July 9th. BNP Paribas raised shares of J. M. Smucker from a "strong sell" rating to a "strong-buy" rating in a research report on Wednesday, July 9th. Barclays dropped their price target on shares of J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 11th. UBS Group lowered their price objective on shares of 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. Finally, Citigroup dropped their price objective on J. M. Smucker from $128.00 to $118.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Six investment 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $117.67.

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.