M&T Bank Corp Reduces Position in The J. M. Smucker Company (NYSE:SJM)

M&T Bank Corp cut its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,091 shares of the company's stock after selling 2,781 shares during the period. M&T Bank Corp's holdings in J. M. Smucker were worth $5,576,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Hourglass Capital LLC increased its position in shares of J. M. Smucker by 57.0% in the 1st quarter. Hourglass Capital LLC now owns 47,710 shares of the company's stock valued at $5,649,000 after purchasing an additional 17,330 shares during the last quarter. Cooksen Wealth LLC purchased a new stake in shares of J. M. Smucker in the 1st quarter valued at approximately $33,000. Envestnet Asset Management Inc. increased its position in shares of J. M. Smucker by 57.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 44,810 shares of the company's stock valued at $5,306,000 after purchasing an additional 16,312 shares during the last quarter. Concurrent Investment Advisors LLC increased its position in shares of J. M. Smucker by 11.2% in the 1st quarter. Concurrent Investment Advisors LLC now owns 15,047 shares of the company's stock valued at $1,782,000 after purchasing an additional 1,512 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of J. M. Smucker by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 986,235 shares of the company's stock valued at $116,780,000 after purchasing an additional 8,418 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. BNP Paribas upgraded shares of J. M. Smucker from a "strong sell" rating to a "strong-buy" rating in a report on Wednesday. Royal Bank Of Canada assumed coverage on shares of J. M. Smucker in a report on Monday. They issued an "outperform" rating and a $130.00 target price for the company. Stifel Nicolaus lowered their target price on shares of J. M. Smucker from $120.00 to $106.00 and set a "hold" rating for the company in a report on Wednesday, June 11th. Citigroup lowered their target price on shares of J. M. Smucker from $128.00 to $118.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Finally, Jefferies Financial Group upgraded shares of J. M. Smucker from a "hold" rating to a "buy" rating and lowered their target price for the company from $118.00 to $115.00 in a report on Wednesday, June 11th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $117.33.

J. M. Smucker Stock Up 0.5%

Shares of NYSE:SJM opened at $104.73 on Friday. The stock has a market cap of $11.15 billion, a P/E ratio of -9.06, a P/E/G ratio of 7.85 and a beta of 0.31. The firm has a fifty day moving average price of $106.22 and a 200 day moving average price of $108.71. 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 J. M. Smucker Company has a 1-year low of $93.30 and a 1-year high of $125.42.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its quarterly earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.25 by $0.06. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.18 billion. J. M. Smucker had a negative net margin of 14.10% and a positive return on equity of 15.20%. J. M. Smucker's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.66 EPS. Sell-side analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.32 dividend on an annualized basis and a yield of 4.12%. J. M. Smucker's payout ratio is currently -37.37%.

Insider Buying and Selling

In other news, Director Tarang Amin acquired 1,050 shares of the business's stock in a transaction on Thursday, June 12th. The stock was bought at an average price of $96.09 per share, for a total transaction of $100,894.50. Following the transaction, the director owned 3,825 shares in the company, valued at $367,544.25. This represents a 37.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.24% of the company's stock.

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.

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