National Bank of Canada FI Sells 7,115 Shares of The J. M. Smucker Company (NYSE:SJM)

National Bank of Canada FI lessened its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 14.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,953 shares of the company's stock after selling 7,115 shares during the period. National Bank of Canada FI's holdings in J. M. Smucker were worth $5,086,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. bought a new stake in J. M. Smucker during the fourth quarter worth about $27,000. Minot DeBlois Advisors LLC acquired a new position in J. M. Smucker during the fourth quarter worth approximately $28,000. Measured Risk Portfolios Inc. acquired a new position in J. M. Smucker during the fourth quarter worth approximately $29,000. N.E.W. Advisory Services LLC acquired a new position in J. M. Smucker during the first quarter worth approximately $30,000. Finally, Cooksen Wealth LLC acquired a new position in J. M. Smucker during the first quarter worth approximately $33,000. Institutional investors own 81.66% of the company's stock.

J. M. Smucker Trading Down 0.8%

NYSE SJM traded down $0.88 on Friday, reaching $110.56. The company had a trading volume of 1,692,900 shares, compared to its average volume of 1,594,209. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of -9.56, a P/E/G ratio of 8.42 and a beta of 0.31. The J. M. Smucker Company has a fifty-two week low of $93.30 and a fifty-two week high of $125.42. The business has a 50 day moving average of $104.32 and a two-hundred day moving average of $109.20. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.35.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its quarterly earnings data on Tuesday, June 10th. The company reported $2.31 earnings per share 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 the consensus estimate 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 quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.66 earnings per share. Analysts forecast that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, August 15th. This is an increase from J. M. Smucker's previous quarterly dividend of $1.08. J. M. Smucker's dividend payout ratio (DPR) is -38.06%.

Insiders Place Their Bets

In other J. M. Smucker news, Director Tarang Amin purchased 1,050 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was purchased at an average cost of $96.09 per share, for a total transaction of $100,894.50. Following the acquisition, the director owned 3,825 shares in the company, valued at approximately $367,544.25. The trade was a 37.84% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.24% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SJM. 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 research report on Wednesday, June 11th. Wells Fargo & Company reduced their price objective on J. M. Smucker from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. 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 note on Friday, June 6th. Citigroup cut their price target 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. Finally, BNP Paribas upgraded J. M. Smucker from a "strong sell" rating to a "strong-buy" rating in a research note on Wednesday, July 9th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, J. M. Smucker currently has an average rating of "Moderate Buy" and a consensus price target of $117.67.

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.