Staley Capital Advisers Inc. Has $65.34 Million Holdings in The J. M. Smucker Company (NYSE:SJM)

Key Points

• Staley Capital Advisers Inc. increased its stake in J. M. Smucker by 8.8%, owning 551,775 shares, which is about 3.0% of its investment portfolio.
• J. M. Smucker announced a quarterly dividend of $1.10, up from the previous $1.08, with a dividend yield of 4.0%.
• The company's stock has experienced a 0.2% decline recently, with a market capitalization of $11.79 billion and a PE ratio of -9.58.

Staley Capital Advisers Inc. raised its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 8.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 551,775 shares of the company's stock after purchasing an additional 44,450 shares during the quarter. J. M. Smucker makes up approximately 3.0% of Staley Capital Advisers Inc.'s holdings, making the stock its 9th biggest position. Staley Capital Advisers Inc. owned about 0.52% of J. M. Smucker worth $65,336,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SJM. Invesco Ltd. lifted its position in shares of J. M. Smucker by 8.6% during the 1st quarter. Invesco Ltd. now owns 2,623,254 shares of the company's stock worth $310,620,000 after purchasing an additional 208,231 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of J. M. Smucker by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,009,017 shares of the company's stock worth $221,232,000 after purchasing an additional 33,758 shares during the last quarter. Ariel Investments LLC lifted its position in shares of J. M. Smucker by 12.4% during the 4th quarter. Ariel Investments LLC now owns 1,832,861 shares of the company's stock worth $201,835,000 after purchasing an additional 201,576 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of J. M. Smucker by 5.8% during the 4th quarter. ProShare Advisors LLC now owns 1,627,187 shares of the company's stock worth $179,186,000 after purchasing an additional 89,448 shares during the last quarter. Finally, LSV Asset Management lifted its position in shares of J. M. Smucker by 48.4% during the 1st quarter. LSV Asset Management now owns 1,379,320 shares of the company's stock worth $163,325,000 after purchasing an additional 449,920 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

Insider Activity

In other news, Director Tarang Amin purchased 1,050 shares of the company's stock in a transaction on Thursday, June 12th. The shares were purchased at an average price of $96.09 per share, with a total value of $100,894.50. Following the purchase, the director directly owned 3,825 shares of the company's stock, valued at $367,544.25. This trade represents a 37.84% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.24% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. 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 report on Wednesday, June 11th. Royal Bank Of Canada began coverage on J. M. Smucker in a research report on Monday, July 7th. They set an "outperform" rating and a $130.00 price objective for the company. Barclays cut their price target 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. Morgan Stanley reaffirmed an "overweight" rating and issued a $124.00 price target (up previously from $123.00) on shares of J. M. Smucker in a report on Friday, June 6th. Finally, UBS Group lowered their price objective on J. M. Smucker from $134.00 to $129.00 and set a "buy" rating on the stock in a research note on Friday, June 6th. Six investment 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 company. According to data from MarketBeat, J. M. Smucker currently has a consensus rating of "Moderate Buy" and a consensus target price of $117.67.

J. M. Smucker Trading Up 1.5%

Shares of NYSE:SJM traded up $1.62 during midday trading on Wednesday, hitting $112.99. The company had a trading volume of 1,233,546 shares, compared to its average volume of 1,687,429. The stock has a market cap of $12.03 billion, a price-to-earnings ratio of -9.77, a PEG ratio of 8.46 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 company has a current ratio of 0.81, a quick ratio of 0.35 and a debt-to-equity ratio of 1.16. The firm has a fifty day simple moving average of $104.31 and a 200 day simple moving average of $109.11.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its quarterly earnings data on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.25 by $0.06. The business had revenue of $2.14 billion for 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%. The firm's revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.66 EPS. On average, analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.40 annualized dividend and a dividend yield of 3.9%. This is a positive change from J. M. Smucker's previous quarterly dividend of $1.08. J. M. Smucker's dividend payout ratio (DPR) is -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.