Private Advisor Group LLC Sells 6,486 Shares of The J. M. Smucker Company (NYSE:SJM)

Key Points

• Private Advisor Group LLC reduced its stake in The J. M. Smucker Company by 37.1%, now holding approximately 10,985 shares worth $1.3 million after selling 6,486 shares during the first quarter.
• The J. M. Smucker Company has increased its quarterly dividend from $1.08 to $1.10, representing a 4.03% yield based on the annualized dividend.
• Recent analyst ratings for J. M. Smucker indicate a mix of sentiments, with six hold ratings, seven buy ratings, and one strong buy rating given, reflecting a moderate outlook in the market.

Private Advisor Group LLC cut its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 37.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,985 shares of the company's stock after selling 6,486 shares during the quarter. Private Advisor Group LLC's holdings in J. M. Smucker were worth $1,301,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SJM. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lifted its holdings in shares of J. M. Smucker by 4.2% during the 1st quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 10,620 shares of the company's stock valued at $1,258,000 after acquiring an additional 429 shares in the last quarter. Creekmur Asset Management LLC grew its stake in shares of J. M. Smucker by 16,476.2% in the first quarter. Creekmur Asset Management LLC now owns 6,962 shares of the company's stock valued at $824,000 after buying an additional 6,920 shares in the last quarter. Forum Financial Management LP raised its holdings in shares of J. M. Smucker by 3.9% during the 1st quarter. Forum Financial Management LP now owns 3,113 shares of the company's stock valued at $369,000 after buying an additional 116 shares during the period. Kingsview Wealth Management LLC lifted its position in J. M. Smucker by 6.4% during the 1st quarter. Kingsview Wealth Management LLC now owns 85,202 shares of the company's stock worth $10,089,000 after acquiring an additional 5,089 shares in the last quarter. Finally, Bailard Inc. boosted its holdings in J. M. Smucker by 3.9% in the 1st quarter. Bailard Inc. now owns 12,472 shares of the company's stock worth $1,477,000 after acquiring an additional 472 shares during the period. Hedge funds and other institutional investors own 81.66% of the company's stock.

Insider Buying and Selling at J. M. Smucker

In other J. M. Smucker news, Director Tarang Amin purchased 1,050 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was acquired at an average cost of $96.09 per share, with a total value of $100,894.50. Following the completion of the acquisition, the director directly owned 3,825 shares of the company's stock, valued at $367,544.25. This represents a 37.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.24% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on SJM shares. BNP Paribas Exane raised shares of J. M. Smucker from an "underperform" rating to an "outperform" rating and set a $120.00 price target for the company in a research report on Wednesday, July 9th. Morgan Stanley reissued an "overweight" rating and issued a $124.00 price objective (up previously from $123.00) on shares of J. M. Smucker in a research note on Friday, June 6th. Citigroup cut their target price on J. M. Smucker from $128.00 to $118.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. Bank of America lowered their price target 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. Finally, Barclays dropped their target price on J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 11th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, J. M. Smucker currently has a consensus rating of "Moderate Buy" and an average target price of $117.33.

J. M. Smucker Stock Performance

Shares of SJM traded down $0.31 during trading hours on Monday, reaching $108.71. 1,508,207 shares of the company traded hands, compared to its average volume of 1,573,789. The stock's fifty day moving average is $104.99 and its 200 day moving average is $108.50. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.35 and a current ratio of 0.81. The stock has a market cap of $11.58 billion, a P/E ratio of -9.40, a price-to-earnings-growth ratio of 8.34 and a beta of 0.31. 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 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 business had revenue of $2.14 billion during the quarter, compared to analyst estimates 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 was down 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.66 earnings per share. Equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be given a $1.10 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from J. M. Smucker's previous quarterly dividend of $1.08. This represents a $4.40 dividend on an annualized basis and a yield of 4.05%. J. M. Smucker's payout ratio is -37.37%.

About J. M. Smucker

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.