Tandem Investment Advisors Inc. Cuts Position in The J. M. Smucker Company (NYSE:SJM)

Tandem Investment Advisors Inc. lessened its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 38.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 409,373 shares of the company's stock after selling 259,429 shares during the period. J. M. Smucker makes up approximately 1.7% of Tandem Investment Advisors Inc.'s portfolio, making the stock its 29th biggest holding. Tandem Investment Advisors Inc. owned 0.38% of J. M. Smucker worth $48,474,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Resonant Capital Advisors LLC increased its stake in shares of J. M. Smucker by 7.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 14,321 shares of the company's stock worth $1,696,000 after purchasing an additional 952 shares during the last quarter. Teacher Retirement System of Texas bought a new position in J. M. Smucker in the 1st quarter valued at $1,842,000. Revisor Wealth Management LLC purchased a new position in J. M. Smucker during the first quarter worth about $509,000. Hudson Edge Investment Partners Inc. grew its holdings in shares of J. M. Smucker by 7.8% during the first quarter. Hudson Edge Investment Partners Inc. now owns 47,675 shares of the company's stock worth $5,645,000 after purchasing an additional 3,466 shares in the last quarter. Finally, Private Trust Co. NA increased its holdings in shares of J. M. Smucker by 43.5% in the 1st quarter. Private Trust Co. NA now owns 1,208 shares of the company's stock worth $143,000 after buying an additional 366 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.

Insider Activity at J. M. Smucker

In related news, Director Tarang Amin purchased 1,050 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was bought at an average cost of $96.09 per share, with a total value of $100,894.50. Following the completion of the purchase, the director directly owned 3,825 shares in the company, valued at approximately $367,544.25. This represents a 37.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wells Fargo & Company dropped their price target on J. M. Smucker from $135.00 to $115.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Citigroup dropped their target price on J. M. Smucker from $128.00 to $118.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Bank of America cut their target price on J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, June 11th. Stifel Nicolaus lowered their price objective 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. Finally, Barclays reduced their target price on shares of J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, J. M. Smucker presently has a consensus rating of "Hold" and an average price target of $115.80.

J. M. Smucker Trading Down 1.0%

SJM traded down $1.01 during trading on Friday, hitting $103.82. 1,095,162 shares of the stock traded hands, compared to its average volume of 1,292,105. 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 firm has a market capitalization of $11.06 billion, a P/E ratio of -8.98, a price-to-earnings-growth ratio of 8.01 and a beta of 0.31. The J. M. Smucker Company has a 12-month low of $93.30 and a 12-month high of $125.42. The firm has a 50-day moving average of $107.32 and a 200 day moving average of $108.95.

J. M. Smucker (NYSE:SJM - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The company reported $2.31 earnings per share for the quarter, topping 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 business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.18 billion. During the same quarter last year, the business posted $2.66 EPS. The business's revenue was down 2.8% on a year-over-year basis. Equities research analysts anticipate that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Dividend Announcement

The business 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. This represents a $4.32 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Friday, May 16th. J. M. Smucker's payout ratio is currently -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.