Illinois Municipal Retirement Fund Grows Stock Position in The J. M. Smucker Company (NYSE:SJM)

Illinois Municipal Retirement Fund raised its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 10.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 80,565 shares of the company's stock after purchasing an additional 7,694 shares during the quarter. Illinois Municipal Retirement Fund owned 0.08% of J. M. Smucker worth $9,540,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Creative Financial Designs Inc. ADV grew its stake in shares of J. M. Smucker by 11.4% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 15,986 shares of the company's stock valued at $1,893,000 after purchasing an additional 1,641 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in shares of J. M. Smucker during the 1st quarter valued at about $1,452,000. Golden State Wealth Management LLC grew its stake in shares of J. M. Smucker by 102.3% during the 1st quarter. Golden State Wealth Management LLC now owns 1,687 shares of the company's stock valued at $200,000 after purchasing an additional 853 shares during the period. Daymark Wealth Partners LLC grew its stake in shares of J. M. Smucker by 7.0% during the 1st quarter. Daymark Wealth Partners LLC now owns 68,829 shares of the company's stock valued at $8,150,000 after purchasing an additional 4,521 shares during the period. Finally, Lecap Asset Management Ltd. grew its stake in shares of J. M. Smucker by 9.2% during the 1st quarter. Lecap Asset Management Ltd. now owns 14,041 shares of the company's stock valued at $1,663,000 after acquiring an additional 1,188 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SJM. DA Davidson cut their price objective on J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Wells Fargo & Company cut their price objective 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 cut their price objective on J. M. Smucker from $128.00 to $118.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Stifel Nicolaus cut their price objective on J. M. Smucker from $120.00 to $106.00 and set a "hold" rating for the company in a research note on Wednesday, June 11th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $124.00 price objective (up from $123.00) on shares of J. M. Smucker in a research note on Friday, June 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, J. M. Smucker currently has a consensus rating of "Hold" and a consensus target price of $115.80.

Insider Transactions at J. M. Smucker

In other news, Director Tarang Amin acquired 1,050 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were acquired at an average cost of $96.09 per share, with a total value of $100,894.50. Following the acquisition, the director now directly owns 3,825 shares of the company's stock, valued at approximately $367,544.25. The trade was a 37.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 3.40% of the company's stock.

J. M. Smucker Price Performance

NYSE SJM traded down $0.53 during trading hours on Friday, reaching $95.61. The company's stock had a trading volume of 2,757,703 shares, compared to its average volume of 1,273,657. The firm's 50-day moving average price is $108.46 and its 200-day moving average price is $109.25. 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 J. M. Smucker Company has a 1 year low of $93.30 and a 1 year high of $125.42. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of -8.27, a PEG ratio of 7.36 and a beta of 0.35.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $2.18 billion. During the same period in the previous year, the firm earned $2.66 EPS. The firm's revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a dividend of $1.08 per share. The ex-dividend date was Friday, May 16th. This represents a $4.32 annualized dividend and a dividend yield of 4.52%. J. M. Smucker's dividend payout ratio (DPR) is -37.37%.

J. M. Smucker Company 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.