DAVENPORT & Co LLC Decreases Stake in The J. M. Smucker Company (NYSE:SJM)

DAVENPORT & Co LLC trimmed its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 45.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,250 shares of the company's stock after selling 18,176 shares during the period. DAVENPORT & Co LLC's holdings in J. M. Smucker were worth $2,812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SJM. Intrepid Capital Management Inc. acquired a new position in shares of J. M. Smucker in the second quarter valued at $26,000. Eagle Bay Advisors LLC acquired a new position in shares of J. M. Smucker in the second quarter valued at $27,000. Clear Street Markets LLC increased its holdings in shares of J. M. Smucker by 97.2% in the first quarter. Clear Street Markets LLC now owns 211 shares of the company's stock valued at $33,000 after purchasing an additional 104 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of J. M. Smucker in the first quarter valued at $33,000. Finally, West Tower Group LLC acquired a new position in shares of J. M. Smucker in the second quarter valued at $35,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SJM. JPMorgan Chase & Co. boosted their target price on shares of J. M. Smucker from $126.00 to $128.00 and gave the company a "neutral" rating in a research report on Wednesday, February 28th. Barclays boosted their target price on shares of J. M. Smucker from $129.00 to $132.00 and gave the company an "equal weight" rating in a research report on Thursday, February 29th. Wells Fargo & Company began coverage on shares of J. M. Smucker in a research report on Tuesday, December 12th. They issued an "overweight" rating and a $140.00 target price for the company. DA Davidson began coverage on shares of J. M. Smucker in a research report on Friday, March 1st. They issued a "neutral" rating and a $132.00 target price for the company. Finally, Stifel Nicolaus raised shares of J. M. Smucker from a "hold" rating to a "buy" rating and set a $135.00 target price for the company in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $137.20.

J. M. Smucker Price Performance

NYSE SJM traded down $1.57 during trading on Friday, hitting $117.22. 738,263 shares of the company's stock were exchanged, compared to its average volume of 1,088,437. The company has a current ratio of 0.78, a quick ratio of 0.38 and a debt-to-equity ratio of 1.07. The company has a market cap of $12.45 billion, a PE ratio of -133.20, a P/E/G ratio of 1.90 and a beta of 0.21. The J. M. Smucker Company has a fifty-two week low of $107.33 and a fifty-two week high of $159.92. The stock's 50 day moving average price is $124.88 and its two-hundred day moving average price is $121.55.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.27 by $0.21. J. M. Smucker had a positive return on equity of 14.29% and a negative net margin of 1.24%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the firm earned $2.21 earnings per share. The business's quarterly revenue was up .6% on a year-over-year basis. Research analysts expect that The J. M. Smucker Company will post 9.6 EPS for the current year.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a $1.06 dividend. This represents a $4.24 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Thursday, February 15th. J. M. Smucker's dividend payout ratio is currently -481.81%.

Insider Activity

In other news, insider Jeannette L. Knudsen sold 3,200 shares of the company's stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $124.77, for a total value of $399,264.00. Following the completion of the transaction, the insider now owns 8,946 shares of the company's stock, valued at $1,116,192.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.50% of the stock is currently owned by insiders.

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.