HB Wealth Management LLC Increases Holdings in The J. M. Smucker Company (NYSE:SJM)

HB Wealth Management LLC increased its stake in The J. M. Smucker Company (NYSE:SJM) by 27.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 3,979 shares of the company’s stock after buying an additional 865 shares during the quarter. HB Wealth Management LLC’s holdings in J. M. Smucker were worth $434,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in shares of J. M. Smucker by 298.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 20,270 shares of the company’s stock valued at $2,562,000 after acquiring an additional 15,182 shares during the period. California State Teachers Retirement System increased its position in J. M. Smucker by 5.5% in the fourth quarter. California State Teachers Retirement System now owns 170,552 shares of the company’s stock worth $21,554,000 after buying an additional 8,960 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of J. M. Smucker by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock valued at $1,702,515,000 after buying an additional 518,433 shares during the period. AMF Tjanstepension AB purchased a new position in shares of J. M. Smucker during the 1st quarter valued at $23,990,000. Finally, Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of J. M. Smucker during the 4th quarter worth $14,198,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

SJM has been the topic of a number of research reports. Argus lowered their price objective on J. M. Smucker from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, June 13th. DA Davidson reissued a “neutral” rating and issued a $121.00 price target on shares of J. M. Smucker in a research report on Thursday. Citigroup cut their price objective on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a report on Thursday. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Barclays dropped their target price on J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, J. M. Smucker presently has a consensus rating of “Hold” and an average price target of $129.46.

J. M. Smucker Trading Down 0.8 %

Shares of SJM stock opened at $113.79 on Friday. The company has a market capitalization of $12.08 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 2.42 and a beta of 0.25. The J. M. Smucker Company has a 52-week low of $105.69 and a 52-week high of $146.29. The business’s fifty day moving average is $115.92 and its 200 day moving average is $116.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.25 and a current ratio of 0.52.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.26. J. M. Smucker had a return on equity of 14.15% and a net margin of 9.10%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the firm posted $2.21 EPS. The company’s revenue was up 17.7% compared to the same quarter last year. On average, equities research analysts anticipate that The J. M. Smucker Company will post 10.05 EPS 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 3rd. Shareholders of record on Friday, August 16th will be given a dividend of $1.08 per share. The ex-dividend date is Friday, August 16th. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 annualized dividend and a yield of 3.80%. J. M. Smucker’s payout ratio is presently 60.67%.

Insiders Place Their Bets

In other news, CEO Mark T. Smucker sold 10,000 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the sale, the chief executive officer now owns 78,757 shares in the company, valued at approximately $8,675,871.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.40% of the company’s stock.

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.