Mackenzie Financial Corp Sells 1,214 Shares of The J. M. Smucker Company (NYSE:SJM)

Mackenzie Financial Corp decreased its position in The J. M. Smucker Company (NYSE:SJM) by 6.4% during the second quarter, HoldingsChannel.com reports. The firm owned 17,728 shares of the company’s stock after selling 1,214 shares during the quarter. Mackenzie Financial Corp’s holdings in J. M. Smucker were worth $1,933,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SJM. The Manufacturers Life Insurance Company grew its holdings in shares of J. M. Smucker by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 69,370 shares of the company’s stock valued at $7,564,000 after buying an additional 1,296 shares during the last quarter. MBB Public Markets I LLC bought a new position in J. M. Smucker in the 2nd quarter valued at approximately $813,000. Daymark Wealth Partners LLC boosted its stake in J. M. Smucker by 3.3% during the 2nd quarter. Daymark Wealth Partners LLC now owns 51,799 shares of the company’s stock valued at $5,648,000 after purchasing an additional 1,643 shares during the last quarter. Ariel Investments LLC increased its holdings in shares of J. M. Smucker by 56.0% in the 2nd quarter. Ariel Investments LLC now owns 1,354,999 shares of the company’s stock worth $147,749,000 after purchasing an additional 486,624 shares in the last quarter. Finally, Armistice Capital LLC bought a new position in shares of J. M. Smucker during the second quarter valued at $368,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Stock Performance

NYSE:SJM opened at $117.28 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55. The stock has a 50-day simple moving average of $119.20 and a two-hundred day simple moving average of $116.07. The firm has a market capitalization of $12.45 billion, a PE ratio of 16.47, a P/E/G ratio of 3.21 and a beta of 0.24. The J. M. Smucker Company has a 52-week low of $105.69 and a 52-week high of $134.62.

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

J. M. Smucker Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were paid a dividend of $1.08 per share. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date was Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.68%. J. M. Smucker’s payout ratio is 60.67%.

Analyst Ratings Changes

Several equities research analysts recently commented on SJM shares. TD Cowen reduced their price objective on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Argus reduced their price target on shares of J. M. Smucker from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Wells Fargo & Company decreased 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 report on Thursday, August 29th. DA Davidson restated a “neutral” rating and issued a $121.00 target price on shares of J. M. Smucker in a report on Thursday, August 29th. Finally, StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $127.25.

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.