PNC Financial Services Group Inc. Decreases Stake in The J. M. Smucker Company (NYSE:SJM)

PNC Financial Services Group Inc. cut its position in shares of The J. M. Smucker Company (NYSE:SJM) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,400 shares of the company’s stock after selling 4,030 shares during the period. PNC Financial Services Group Inc. owned approximately 0.14% of J. M. Smucker worth $18,628,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SJM. Wolverine Asset Management LLC raised its stake in shares of J. M. Smucker by 300.0% in the 4th quarter. Wolverine Asset Management LLC now owns 200 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the period. Advantage Trust Co acquired a new position in J. M. Smucker during the 4th quarter worth approximately $25,000. Cooksen Wealth LLC acquired a new position in J. M. Smucker during the 4th quarter worth approximately $33,000. Valley National Advisers Inc. grew its holdings in J. M. Smucker by 2,266.7% during the 4th quarter. Valley National Advisers Inc. now owns 284 shares of the company’s stock worth $35,000 after acquiring an additional 272 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of J. M. Smucker in the 4th quarter valued at $43,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. DA Davidson lowered their target price on shares of J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating for the company in a report on Monday, June 10th. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. JPMorgan Chase & Co. upped their price objective on shares of J. M. Smucker from $126.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Argus cut their price objective on shares of J. M. Smucker from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, June 13th. Finally, Barclays lowered their price target on shares of J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $132.64.

Insider Activity at J. M. Smucker

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

J. M. Smucker Price Performance

J. M. Smucker stock opened at $112.21 on Tuesday. The J. M. Smucker Company has a 12-month low of $106.32 and a 12-month high of $153.96. The stock has a market capitalization of $11.91 billion, a P/E ratio of 15.76, a P/E/G ratio of 2.23 and a beta of 0.23. The firm’s 50-day moving average is $112.86 and its two-hundred day moving average is $120.83. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.52 and a quick ratio of 0.25.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Thursday, June 6th. The company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.34. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.24 billion. J. M. Smucker had a net margin of 9.10% and a return on equity of 14.15%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.64 EPS. Equities analysts predict that The J. M. Smucker Company will post 10.06 earnings per share for the current year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were issued a dividend of $1.06 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $4.24 annualized dividend and a dividend yield of 3.78%. J. M. Smucker’s payout ratio is currently 59.55%.

About J. M. Smucker

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.