M&T Bank Corp Sells 2,781 Shares of The J. M. Smucker Company (NYSE:SJM)

M&T Bank Corp cut its holdings in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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.

Other institutional investors and hedge funds also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of J. M. Smucker during the fourth quarter worth about $27,000. Minot DeBlois Advisors LLC bought a new stake in J. M. Smucker during the fourth quarter worth about $28,000. Measured Risk Portfolios Inc. bought a new stake in J. M. Smucker during the fourth quarter worth about $29,000. Cooksen Wealth LLC bought a new stake in J. M. Smucker during the first quarter worth about $33,000. Finally, Menard Financial Group LLC bought a new stake in J. M. Smucker during the fourth quarter worth about $46,000. 81.66% of the stock is owned by institutional investors and hedge funds.

J. M. Smucker Stock Performance

Shares of J. M. Smucker stock traded up $0.09 on Friday, hitting $104.75. The stock had a trading volume of 1,874,668 shares, compared to its average volume of 1,313,326. The J. M. Smucker Company has a twelve month low of $93.30 and a twelve month high of $125.42. The business's 50 day moving average is $106.22 and its two-hundred day moving average is $108.71. The company has a quick ratio of 0.35, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of -9.06, a price-to-earnings-growth ratio of 7.89 and a beta of 0.31.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted 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 company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the business earned $2.66 earnings per share. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. Analysts forecast that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Dividend Announcement

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

Insiders Place Their Bets

In other J. M. Smucker news, Director Tarang Amin bought 1,050 shares of the business's stock in a transaction on Thursday, June 12th. The stock was purchased at an average cost of $96.09 per share, for a total transaction of $100,894.50. Following the completion of the purchase, the director directly owned 3,825 shares of the company's stock, valued at approximately $367,544.25. This trade represents a 37.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.24% of the stock is owned by insiders.

Analysts Set New Price Targets

SJM has been the topic of several analyst reports. BNP Paribas upgraded J. M. Smucker from a "strong sell" rating to a "strong-buy" rating in a report on Wednesday. BNP Paribas Exane upgraded J. M. Smucker from an "underperform" rating to an "outperform" rating and set a $120.00 target price on the stock in a report on Wednesday. Citigroup dropped their target price on J. M. Smucker from $128.00 to $118.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Royal Bank Of Canada initiated coverage on J. M. Smucker in a report on Monday. They set an "outperform" rating and a $130.00 target price on the stock. Finally, Bank of America dropped their target price on J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating on the stock 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 issued a strong buy rating to the stock. Based on data from MarketBeat, J. M. Smucker presently has a consensus rating of "Moderate Buy" and a consensus target price 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.