Meyer Handelman Co. Acquires 2,724 Shares of The J. M. Smucker Company (NYSE:SJM)

Meyer Handelman Co. raised its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 42.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,087 shares of the company's stock after buying an additional 2,724 shares during the quarter. Meyer Handelman Co.'s holdings in J. M. Smucker were worth $1,076,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SJM. Blue Trust Inc. raised its position in shares of J. M. Smucker by 26.2% during the fourth quarter. Blue Trust Inc. now owns 1,302 shares of the company's stock valued at $158,000 after buying an additional 270 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of J. M. Smucker by 30.3% in the 4th quarter. Pacer Advisors Inc. now owns 15,253 shares of the company's stock valued at $1,680,000 after purchasing an additional 3,550 shares during the period. Perigon Wealth Management LLC raised its stake in shares of J. M. Smucker by 16.3% during the 4th quarter. Perigon Wealth Management LLC now owns 6,723 shares of the company's stock worth $689,000 after buying an additional 941 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of J. M. Smucker during the fourth quarter valued at about $39,000. Finally, Swedbank AB raised its position in shares of J. M. Smucker by 5.0% during the 4th quarter. Swedbank AB now owns 136,999 shares of the company's stock worth $15,086,000 after acquiring an additional 6,539 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Trading Up 0.5%

Shares of SJM traded up $0.52 during mid-day trading on Tuesday, hitting $112.52. The company had a trading volume of 787,837 shares, compared to its average volume of 1,150,382. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The stock has a market cap of $11.97 billion, a PE ratio of 22.78, a P/E/G ratio of 3.91 and a beta of 0.35. The J. M. Smucker Company has a 1-year low of $98.77 and a 1-year high of $125.42. The business's 50-day simple moving average is $114.35 and its 200-day simple moving average is $111.23.

J. M. Smucker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.84%. The ex-dividend date was Friday, May 16th. J. M. Smucker's payout ratio is -179.25%.

Insider Buying and Selling

In other news, insider Jill R. Penrose sold 5,117 shares of the business's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $116.26, for a total value of $594,902.42. Following the completion of the transaction, the insider now directly owns 8,794 shares of the company's stock, valued at approximately $1,022,390.44. The trade was a 36.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Tucker H. Marshall sold 5,028 shares of the business's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $113.36, for a total transaction of $569,974.08. Following the completion of the sale, the chief financial officer now directly owns 13,263 shares of the company's stock, valued at approximately $1,503,493.68. The trade was a 27.49% decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SJM has been the topic of a number of research reports. UBS Group started coverage on shares of J. M. Smucker in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $134.00 price objective on the stock. DA Davidson cut their price objective on shares of J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Wall Street Zen upgraded J. M. Smucker from a "sell" rating to a "hold" rating in a research note on Friday, March 28th. Barclays decreased their target price on shares of J. M. Smucker from $123.00 to $119.00 and set an "equal weight" rating on the stock in a research report on Monday, March 3rd. Finally, Jefferies Financial Group restated a "hold" rating on shares of J. M. Smucker in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $125.70.

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.