Hourglass Capital LLC Grows Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Hourglass Capital LLC grew its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 57.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,710 shares of the company's stock after purchasing an additional 17,330 shares during the period. J. M. Smucker comprises about 1.5% of Hourglass Capital LLC's portfolio, making the stock its 29th largest position. Hourglass Capital LLC's holdings in J. M. Smucker were worth $5,649,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Merit Financial Group LLC bought a new stake in shares of J. M. Smucker during the 1st quarter worth $203,000. Farther Finance Advisors LLC increased its holdings in J. M. Smucker by 113.5% during the first quarter. Farther Finance Advisors LLC now owns 2,923 shares of the company's stock worth $346,000 after buying an additional 1,554 shares during the last quarter. Sandy Spring Bank raised its position in J. M. Smucker by 1,365.5% in the fourth quarter. Sandy Spring Bank now owns 425 shares of the company's stock worth $47,000 after acquiring an additional 396 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in J. M. Smucker by 124.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 13,355 shares of the company's stock valued at $1,471,000 after acquiring an additional 7,414 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its stake in J. M. Smucker by 55.5% in the fourth quarter. Sterling Capital Management LLC now owns 6,117 shares of the company's stock valued at $674,000 after acquiring an additional 2,182 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

J. M. Smucker Price Performance

Shares of J. M. Smucker stock traded up $0.09 on Friday, reaching $104.75. The stock had a trading volume of 1,874,668 shares, compared to its average volume of 1,313,326. The business's 50 day moving average is $106.02 and its two-hundred day moving average is $108.66. 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 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 cap of $11.16 billion, a P/E ratio of -9.06, a price-to-earnings-growth ratio of 7.89 and a beta of 0.31.

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

J. M. Smucker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.12%. J. M. Smucker's dividend payout ratio (DPR) is presently -37.37%.

Analysts Set New Price Targets

SJM has been the topic of a number of research reports. Barclays lowered their price target on shares of J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 11th. Citigroup lowered their target price on 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. Stifel Nicolaus dropped their price target on J. M. Smucker from $120.00 to $106.00 and set a "hold" rating on the stock in a research report on Wednesday, June 11th. UBS Group decreased their price objective on J. M. Smucker from $134.00 to $129.00 and set a "buy" rating for the company in a report on Friday, June 6th. Finally, Morgan Stanley restated an "overweight" rating and issued a $124.00 price objective (up from $123.00) on shares of J. M. Smucker in a research note on Friday, June 6th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $117.33.

Insider Buying and Selling at J. M. Smucker

In related news, Director Tarang Amin bought 1,050 shares of the company's stock in a transaction on Thursday, June 12th. The stock was acquired at an average cost of $96.09 per share, for a total transaction of $100,894.50. Following the completion of the transaction, the director directly owned 3,825 shares in the company, valued at $367,544.25. This trade represents a 37.84% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.24% of the company's stock.

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.