The J. M. Smucker Company (NYSE:SJM) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 5.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 123,860 shares of the company's stock after selling 7,244 shares during the period. PNC Financial Services Group Inc. owned approximately 0.12% of J. M. Smucker worth $14,666,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SJM. LSV Asset Management increased its holdings in shares of J. M. Smucker by 3,599.5% in the 4th quarter. LSV Asset Management now owns 929,400 shares of the company's stock valued at $102,346,000 after purchasing an additional 904,278 shares in the last quarter. Two Sigma Advisers LP increased its holdings in J. M. Smucker by 76.7% during the 4th quarter. Two Sigma Advisers LP now owns 1,078,892 shares of the company's stock valued at $118,808,000 after acquiring an additional 468,200 shares in the last quarter. FIL Ltd increased its holdings in J. M. Smucker by 87.8% during the 4th quarter. FIL Ltd now owns 925,000 shares of the company's stock valued at $101,861,000 after acquiring an additional 432,500 shares in the last quarter. Invesco Ltd. increased its holdings in J. M. Smucker by 21.0% during the 4th quarter. Invesco Ltd. now owns 2,415,023 shares of the company's stock valued at $265,942,000 after acquiring an additional 418,878 shares in the last quarter. Finally, FMR LLC increased its holdings in J. M. Smucker by 11.3% during the 4th quarter. FMR LLC now owns 3,734,305 shares of the company's stock valued at $411,222,000 after acquiring an additional 380,309 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.

Analysts Set New Price Targets

SJM has been the subject of several recent research reports. Morgan Stanley restated an "overweight" rating and set a $124.00 target price (up from $123.00) on shares of J. M. Smucker in a report on Friday, June 6th. Bank of America dropped their target price on shares of J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, June 11th. Wells Fargo & Company dropped their target price on shares of J. M. Smucker from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. BNP Paribas Exane upgraded shares of J. M. Smucker from an "underperform" rating to an "outperform" rating and set a $120.00 target price for the company in a report on Wednesday, July 9th. Finally, Citigroup decreased their price target on shares of J. M. Smucker from $128.00 to $118.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Six 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $117.67.

J. M. Smucker Price Performance

SJM opened at $110.08 on Tuesday. The company's 50 day simple moving average is $104.53 and its 200 day simple moving average is $108.81. 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 J. M. Smucker Company has a 1 year low of $93.30 and a 1 year high of $125.42. The stock has a market capitalization of $11.72 billion, a PE ratio of -9.52, a P/E/G ratio of 8.22 and a beta of 0.31.

J. M. Smucker (NYSE:SJM - Get Free Report) last released its earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.06. J. M. Smucker had a negative net margin of 14.10% and a positive return on equity of 15.20%. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.18 billion. During the same period last year, the company earned $2.66 earnings per share. The company's quarterly revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts expect that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be given a $1.10 dividend. This is a boost from J. M. Smucker's previous quarterly dividend of $1.08. This represents a $4.40 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, August 15th. J. M. Smucker's dividend payout ratio is -37.37%.

Insider Activity

In related news, Director Tarang Amin bought 1,050 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the director owned 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 document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.24% of the company's stock.

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.

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