The J. M. Smucker Company (NYSE:SJM) Shares Sold by Machina Capital S.A.S.

Key Points

• Machina Capital S.A.S. significantly reduced its stake in The J. M. Smucker Company by 61.9%, now owning 6,012 shares valued at $712,000.
• The J. M. Smucker Company declared an increased quarterly dividend of $1.10 per share, yielding 4.03% annually, with the ex-dividend date set for August 15th.
• Despite a decrease in revenue of 2.8% year-over-year, J. M. Smucker reported an EPS of $2.31, beating estimates by $0.06.

Machina Capital S.A.S. reduced its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 61.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,012 shares of the company's stock after selling 9,747 shares during the quarter. Machina Capital S.A.S.'s holdings in J. M. Smucker were worth $712,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Merit Financial Group LLC purchased a new stake in shares of J. M. Smucker in the first quarter valued at approximately $203,000. Farther Finance Advisors LLC boosted its stake in shares of J. M. Smucker by 113.5% in the first 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 in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in shares of J. M. Smucker by 124.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 13,355 shares of the company's stock valued at $1,471,000 after buying an additional 7,414 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of J. M. Smucker by 55.5% in the fourth quarter. Sterling Capital Management LLC now owns 6,117 shares of the company's stock valued at $674,000 after buying an additional 2,182 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of J. M. Smucker by 1.6% in 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 buying an additional 335 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at J. M. Smucker

In related news, Director Tarang Amin bought 1,050 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was bought at an average price of $96.09 per share, with a total value of $100,894.50. Following the completion of the transaction, the director directly owned 3,825 shares of the company's stock, valued at approximately $367,544.25. This represents a 37.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.24% of the stock is owned by insiders.

J. M. Smucker Trading Up 0.4%

J. M. Smucker stock traded up $0.47 during trading on Friday, hitting $109.11. The company's stock had a trading volume of 1,840,887 shares, compared to its average volume of 2,094,272. The stock has a market capitalization of $11.62 billion, a price-to-earnings ratio of -9.44, a P/E/G ratio of 8.31 and a beta of 0.31. The stock's fifty day moving average is $104.99 and its 200 day moving average is $108.46. 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 quick ratio of 0.35 and a current ratio of 0.81.

J. M. Smucker (NYSE:SJM - Get Free Report) last released its 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 positive return on equity of 15.20% and a negative net margin of 14.10%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the firm posted $2.66 earnings per share. The business's quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Friday, August 15th. This is an increase from J. M. Smucker's previous quarterly dividend of $1.08. J. M. Smucker's payout ratio is -38.06%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SJM shares. Bank of America decreased their price target on J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 11th. Citigroup reduced 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. Wells Fargo & Company reduced their price objective on J. M. Smucker from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Royal Bank Of Canada began coverage on J. M. Smucker in a report on Monday, July 7th. They set an "outperform" rating and a $130.00 price objective for the company. Finally, Wall Street Zen raised J. M. Smucker from a "sell" rating to a "hold" rating in a report on Friday, March 28th. Six investment 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, the company has a consensus rating of "Moderate Buy" and a consensus price target of $117.33.

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.