Monetary Management Group Inc. trimmed its stake in shares of J M Smucker Co (NYSE:SJM) by 22.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 350 shares of the company’s stock after selling 100 shares during the quarter. Monetary Management Group Inc.’s holdings in J M Smucker were worth $39,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in SJM. DekaBank Deutsche Girozentrale raised its stake in shares of J M Smucker by 31.6% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 14,454 shares of the company’s stock valued at $1,500,000 after purchasing an additional 3,472 shares during the period. Aigen Investment Management LP bought a new stake in shares of J M Smucker during the 4th quarter valued at $207,000. Bessemer Group Inc. raised its stake in shares of J M Smucker by 8.8% during the 4th quarter. Bessemer Group Inc. now owns 7,649 shares of the company’s stock valued at $796,000 after purchasing an additional 619 shares during the period. Victory Capital Management Inc. raised its stake in shares of J M Smucker by 48.0% during the 4th quarter. Victory Capital Management Inc. now owns 336,935 shares of the company’s stock valued at $34,910,000 after purchasing an additional 109,316 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of J M Smucker by 19.0% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 24,908 shares of the company’s stock valued at $2,548,000 after purchasing an additional 3,982 shares during the period. Institutional investors own 77.91% of the company’s stock.
Several research firms recently commented on SJM. Sanford C. Bernstein cut J M Smucker from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $105.00 to $93.00 in a research report on Thursday. ValuEngine cut J M Smucker from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. Barclays restated a “hold” rating and set a $112.00 target price on shares of J M Smucker in a research report on Thursday, February 27th. Guggenheim reduced their target price on J M Smucker from $98.00 to $96.00 and set a “sell” rating for the company in a research report on Thursday, May 28th. Finally, Jefferies Financial Group restated a “hold” rating and set a $109.00 target price on shares of J M Smucker in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $113.46.
Shares of SJM traded down $1.81 during midday trading on Thursday, reaching $106.93. The stock had a trading volume of 34,982 shares, compared to its average volume of 1,151,085. The company’s 50-day moving average is $113.79 and its 200 day moving average is $108.80. J M Smucker Co has a 12-month low of $91.88 and a 12-month high of $125.62. The company has a current ratio of 1.24, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $12.37 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 6.01 and a beta of 0.16.
J M Smucker (NYSE:SJM) last posted its quarterly earnings data on Thursday, June 4th. The company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.29. J M Smucker had a return on equity of 12.31% and a net margin of 9.99%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the prior year, the business earned $2.08 EPS. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Research analysts forecast that J M Smucker Co will post 8.27 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, May 14th. J M Smucker’s dividend payout ratio is presently 40.18%.
In related news, insider Mark R. Belgya sold 7,807 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $108.74, for a total transaction of $848,933.18. Following the completion of the sale, the insider now directly owns 43,604 shares in the company, valued at approximately $4,741,498.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark R. Belgya sold 750 shares of the stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $110.00, for a total value of $82,500.00. Following the sale, the chief financial officer now owns 48,942 shares of the company’s stock, valued at $5,383,620. The disclosure for this sale can be found here. Insiders have sold a total of 10,057 shares of company stock valued at $1,101,773 over the last 90 days. 3.70% of the stock is currently owned by company insiders.
About J M Smucker
The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.
See Also: Liquidity
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