Hourglass Capital LLC Has $5.65 Million Stake in The J. M. Smucker Company (NYSE:SJM)

Hourglass Capital LLC increased its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 57.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,710 shares of the company's stock after acquiring an additional 17,330 shares during the quarter. J. M. Smucker makes up 1.5% of Hourglass Capital LLC's holdings, making the stock its 29th largest holding. Hourglass Capital LLC's holdings in J. M. Smucker were worth $5,649,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of J. M. Smucker during the fourth quarter valued at $27,000. Minot DeBlois Advisors LLC acquired a new stake in shares of J. M. Smucker in the fourth quarter worth about $28,000. Measured Risk Portfolios Inc. acquired a new stake in shares of J. M. Smucker in the fourth quarter worth about $29,000. Cooksen Wealth LLC acquired a new position in shares of J. M. Smucker during the 1st quarter worth about $33,000. Finally, Menard Financial Group LLC acquired a new position in shares of J. M. Smucker during the 4th quarter worth about $46,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on SJM. Barclays lowered their price target on J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 11th. DA Davidson reduced their target price on J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Stifel Nicolaus reduced their target price on J. M. Smucker from $120.00 to $106.00 and set a "hold" rating on the stock in a report on Wednesday, June 11th. Citigroup reduced their price objective on J. M. Smucker from $128.00 to $118.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Finally, Jefferies Financial Group raised J. M. Smucker from a "hold" rating to a "buy" rating and cut their price target for the company from $118.00 to $115.00 in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $117.33.

J. M. Smucker Stock Up 0.7%

SJM stock traded up $0.73 during trading hours on Wednesday, reaching $104.20. 2,043,680 shares of the stock were exchanged, compared to its average volume of 1,302,305. The firm's 50-day moving average is $106.40 and its 200-day moving average is $108.75. The company has a market cap of $11.10 billion, a price-to-earnings ratio of -9.01, a PEG ratio of 7.80 and a beta of 0.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.35. The J. M. Smucker Company has a 12 month low of $93.30 and a 12 month high of $125.42.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings data on Tuesday, June 10th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.06. The company had revenue of $2.14 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.66 EPS. On average, equities research analysts expect that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a $1.08 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.32 dividend on an annualized basis and a yield of 4.15%. J. M. Smucker's dividend payout ratio (DPR) is -37.37%.

Insider Transactions at J. M. Smucker

In other news, Director Tarang Amin acquired 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 purchase, the director directly owned 3,825 shares of the company's stock, valued at $367,544.25. The trade was a 37.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.24% of the stock is owned by company insiders.

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.