Palumbo Wealth Management LLC Has $2.28 Million Holdings in The J. M. Smucker Company (NYSE:SJM)

Palumbo Wealth Management LLC boosted its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 68.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 19,210 shares of the company's stock after buying an additional 7,790 shares during the period. Palumbo Wealth Management LLC's holdings in J. M. Smucker were worth $2,275,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Advisors Ltd. LLC boosted its position in shares of J. M. Smucker by 188.8% in the fourth quarter. Capital Advisors Ltd. LLC now owns 231 shares of the company's stock valued at $25,000 after acquiring an additional 151 shares during the period. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in J. M. Smucker in the 4th quarter worth about $27,000. Minot DeBlois Advisors LLC acquired a new stake in J. M. Smucker in the 4th quarter worth about $28,000. Measured Risk Portfolios Inc. bought a new stake in J. M. Smucker in the 4th quarter valued at about $29,000. Finally, Menard Financial Group LLC acquired a new position in shares of J. M. Smucker during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 81.66% of the company's stock.

J. M. Smucker Price Performance

Shares of SJM stock traded down $0.18 on Tuesday, hitting $97.15. 2,107,132 shares of the company's stock were exchanged, compared to its average volume of 1,257,086. The company has a 50 day moving average of $109.66 and a 200 day moving average of $109.63. The stock has a market cap of $10.35 billion, a P/E ratio of -8.40, a price-to-earnings-growth ratio of 7.45 and a beta of 0.35. 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 12 month low of $93.30 and a 12 month 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, 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 firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the previous year, the firm earned $2.66 earnings per share. The business's quarterly revenue was down 2.8% on a year-over-year basis. On average, equities research analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend was Friday, May 16th. J. M. Smucker's payout ratio is -37.37%.

Insider Buying and Selling at J. M. Smucker

In other news, Director Tarang Amin purchased 1,050 shares of J. M. Smucker stock in a transaction dated Thursday, June 12th. The shares were bought at an average cost of $96.09 per share, for a total transaction of $100,894.50. Following the completion of the acquisition, the director now owns 3,825 shares in the company, valued at approximately $367,544.25. This trade represents a 37.84% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jill R. Penrose sold 5,117 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were 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 $1,022,390.44. This represents a 36.78% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.40% of the company's stock.

Analyst Ratings Changes

SJM has been the subject of a number of analyst reports. Morgan Stanley reiterated an "overweight" rating and issued a $124.00 price target (up from $123.00) on shares of J. M. Smucker in a research report on Friday, June 6th. Jefferies Financial Group upgraded J. M. Smucker from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $118.00 to $115.00 in a research note on Wednesday, June 11th. Barclays dropped their price objective on J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating for the company in a report on Wednesday, June 11th. UBS Group cut their target price on J. M. Smucker from $134.00 to $129.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Finally, Bank of America decreased their price target on J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating on the stock in a research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $115.80.

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.