Studio Investment Management LLC Invests $26,000 in The J. M. Smucker Company (NYSE:SJM)

Studio Investment Management LLC purchased a new position in The J. M. Smucker Company (NYSE:SJM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 235 shares of the company’s stock, valued at approximately $26,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cooksen Wealth LLC bought a new stake in shares of J. M. Smucker in the 4th quarter valued at $33,000. Rothschild Investment LLC bought a new stake in shares of J. M. Smucker in the 2nd quarter valued at $42,000. Principal Securities Inc. bought a new stake in shares of J. M. Smucker in the 4th quarter valued at $43,000. Central Valley Advisors LLC bought a new stake in shares of J. M. Smucker in the 2nd quarter valued at $45,000. Finally, Quest Partners LLC increased its stake in shares of J. M. Smucker by 2,347.1% in the 2nd quarter. Quest Partners LLC now owns 416 shares of the company’s stock valued at $45,000 after acquiring an additional 399 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Buying and Selling at J. M. Smucker

In other news, CEO Mark T. Smucker sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 78,757 shares in the company, valued at approximately $8,675,871.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SJM. Wells Fargo & Company lowered their price objective on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. BNP Paribas upgraded shares of J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. TD Cowen decreased their price target on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Citigroup decreased their price target on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Barclays decreased their price target on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, J. M. Smucker has an average rating of “Hold” and a consensus price target of $127.25.

J. M. Smucker Price Performance

SJM opened at $117.49 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The company has a market capitalization of $12.50 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 3.19 and a beta of 0.24. The firm’s fifty day moving average price is $117.57 and its two-hundred day moving average price is $116.28. The J. M. Smucker Company has a 1 year low of $105.69 and a 1 year high of $134.62.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.27. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.21 EPS. As a group, analysts anticipate that The J. M. Smucker Company will post 9.82 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were given a $1.08 dividend. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date was Friday, August 16th. This represents a $4.32 annualized dividend and a yield of 3.68%. J. M. Smucker’s payout ratio is currently 60.67%.

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.