Zurcher Kantonalbank Zurich Cantonalbank increased its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 8.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,672 shares of the company's stock after acquiring an additional 3,283 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in J. M. Smucker were worth $5,171,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of SJM. Marshall & Sterling Wealth Advisors Inc. purchased a new position in J. M. Smucker in the 4th quarter worth about $27,000. Minot DeBlois Advisors LLC purchased a new position in shares of J. M. Smucker in the fourth quarter worth approximately $28,000. Cooksen Wealth LLC acquired a new stake in shares of J. M. Smucker during the first quarter valued at approximately $33,000. Measured Risk Portfolios Inc. purchased a new stake in shares of J. M. Smucker in the 4th quarter valued at approximately $29,000. Finally, Menard Financial Group LLC acquired a new position in J. M. Smucker in the 4th quarter worth approximately $46,000. 81.66% of the stock is owned by institutional investors and hedge funds.
J. M. Smucker Stock Down 1.7%
J. M. Smucker stock opened at $107.24 on Friday. The company has a market capitalization of $11.42 billion, a P/E ratio of -9.28, a P/E/G ratio of 8.29 and a beta of 0.31. The J. M. Smucker Company has a 1-year low of $93.30 and a 1-year high of $125.42. The firm's fifty day simple moving average is $104.67 and its 200-day simple moving average is $108.61. The company has a current ratio of 0.81, a quick ratio of 0.35 and a debt-to-equity ratio of 1.16.
J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates 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%. The business's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.66 earnings per share. Sell-side analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.
J. M. Smucker Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from J. M. Smucker's previous quarterly dividend of $1.08. This represents a $4.40 dividend on an annualized basis and a yield of 4.1%. J. M. Smucker's dividend payout ratio (DPR) is currently -38.06%.
Analyst Ratings Changes
Several brokerages have issued reports on SJM. Jefferies Financial Group raised shares of J. M. Smucker from a "hold" rating to a "buy" rating and cut their target price for the company from $118.00 to $115.00 in a research note on Wednesday, June 11th. BNP Paribas raised J. M. Smucker from a "strong sell" rating to a "strong-buy" rating in a research note on Wednesday, July 9th. Stifel Nicolaus raised their price objective on J. M. Smucker from $106.00 to $110.00 and gave the stock a "hold" rating in a research report on Tuesday. Bank of America dropped their target price on J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, June 11th. Finally, BNP Paribas Exane upgraded shares of J. M. Smucker from an "underperform" rating to an "outperform" rating and set a $120.00 price target for the company in a report on Wednesday, July 9th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $117.67.
Get Our Latest Research Report on SJM
Insider Buying and Selling
In other news, Director Tarang Amin purchased 1,050 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were bought at an average price of $96.09 per share, with a total value 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.24% of the stock is currently owned by company insiders.
J. M. Smucker Company Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding SJM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The J. M. Smucker Company (NYSE:SJM - Free Report).

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