The J. M. Smucker Company $SJM Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group trimmed its stake in The J. M. Smucker Company by 0.3%, selling 32,294 shares and leaving it with 12,458,770 shares (about 11.68% of the company) valued at roughly $1.22 billion.
• Smucker declared a quarterly dividend of $1.10 (annualized $4.40) for a yield of about 4.5%, with an ex-dividend date of May 15 and payment on June 1.
• Analyst sentiment is mixed—the consensus is a "Hold" with an average target of $117.25 (10 Buys, 9 Holds, 1 Sell), amid recent price-target cuts by Deutsche Bank and Stifel and a notable upgrade from Bank of America to Buy with a $130 target.

Vanguard Group Inc. lowered its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 0.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,458,770 shares of the company's stock after selling 32,294 shares during the quarter. Vanguard Group Inc. owned about 11.68% of J. M. Smucker worth $1,218,592,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SJM. Wesbanco Bank Inc. grew its stake in J. M. Smucker by 2.9% during the third quarter. Wesbanco Bank Inc. now owns 3,615 shares of the company's stock worth $393,000 after buying an additional 102 shares during the period. Wedbush Securities Inc. raised its stake in shares of J. M. Smucker by 1.2% in the 3rd quarter. Wedbush Securities Inc. now owns 8,861 shares of the company's stock valued at $962,000 after acquiring an additional 106 shares during the period. IFP Advisors Inc raised its stake in shares of J. M. Smucker by 22.9% in the 3rd quarter. IFP Advisors Inc now owns 586 shares of the company's stock valued at $64,000 after acquiring an additional 109 shares during the period. Diversify Advisory Services LLC lifted its holdings in shares of J. M. Smucker by 4.2% during the 4th quarter. Diversify Advisory Services LLC now owns 2,815 shares of the company's stock valued at $287,000 after acquiring an additional 113 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in J. M. Smucker by 5.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,437 shares of the company's stock worth $265,000 after purchasing an additional 118 shares during the period. Hedge funds and other institutional investors own 81.66% of the company's stock.

Analyst Ratings Changes

SJM has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their price target on J. M. Smucker from $117.00 to $97.00 and set a "hold" rating for the company in a report on Monday, March 30th. Canaccord Genuity Group raised J. M. Smucker to a "buy" rating in a research report on Friday, January 16th. Stifel Nicolaus lowered their target price on J. M. Smucker from $120.00 to $100.00 and set a "hold" rating for the company in a research note on Tuesday, April 21st. Wall Street Zen lowered J. M. Smucker from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Finally, Bank of America upgraded J. M. Smucker from a "neutral" rating to a "buy" rating and set a $130.00 price target for the company in a report on Monday, February 23rd. Ten research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $117.25.

J. M. Smucker Stock Down 1.1%

Shares of NYSE:SJM opened at $96.95 on Friday. The J. M. Smucker Company has a 12-month low of $88.25 and a 12-month high of $119.39. The company has a current ratio of 0.84, a quick ratio of 0.35 and a debt-to-equity ratio of 1.31. The firm has a market cap of $10.34 billion, a PE ratio of -8.22, a price-to-earnings-growth ratio of 4.26 and a beta of 0.25. The company has a fifty day simple moving average of $100.73 and a 200 day simple moving average of $102.39.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.11. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.32 billion. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the business earned $2.61 EPS. On average, equities research analysts anticipate that The J. M. Smucker Company will post 9.04 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, May 15th. J. M. Smucker's payout ratio is currently -37.32%.

J. M. Smucker Company Profile

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company's main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker's core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker's® fruit spreads, Jif® peanut butter, Folgers® and Dunkin'® coffees, and Café Bustelo® coffee.

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