Nisa Investment Advisors LLC Trims Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Nisa Investment Advisors LLC cut its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 24.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,936 shares of the company’s stock after selling 1,951 shares during the period. Nisa Investment Advisors LLC’s holdings in J. M. Smucker were worth $647,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sound View Wealth Advisors Group LLC grew its position in J. M. Smucker by 1.6% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 5,281 shares of the company’s stock worth $667,000 after purchasing an additional 81 shares during the last quarter. Tradition Wealth Management LLC grew its holdings in shares of J. M. Smucker by 7.3% during the fourth quarter. Tradition Wealth Management LLC now owns 1,217 shares of the company’s stock worth $154,000 after buying an additional 83 shares during the last quarter. Czech National Bank increased its position in J. M. Smucker by 0.5% in the 1st quarter. Czech National Bank now owns 18,676 shares of the company’s stock valued at $2,351,000 after acquiring an additional 88 shares during the period. Resonant Capital Advisors LLC raised its stake in J. M. Smucker by 0.7% during the 1st quarter. Resonant Capital Advisors LLC now owns 14,328 shares of the company’s stock valued at $1,803,000 after acquiring an additional 93 shares during the last quarter. Finally, First National Trust Co lifted its position in J. M. Smucker by 4.9% during the 4th quarter. First National Trust Co now owns 2,110 shares of the company’s stock worth $267,000 after acquiring an additional 99 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

J. M. Smucker Stock Up 0.8 %

J. M. Smucker stock opened at $122.04 on Friday. The firm has a market capitalization of $12.96 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 2.38 and a beta of 0.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.25 and a current ratio of 0.52. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $147.48. The stock’s fifty day moving average is $115.24 and its two-hundred day moving average is $117.21.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Thursday, June 6th. The company reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.34. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.24 billion. J. M. Smucker had a net margin of 9.10% and a return on equity of 14.15%. The firm’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.64 EPS. Analysts predict 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 issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Friday, August 16th. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s dividend payout ratio is 60.67%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SJM shares. Citigroup dropped their target price on J. M. Smucker from $139.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays cut their price objective on shares of J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. StockNews.com downgraded shares of J. M. Smucker from a “hold” rating to a “sell” rating in a report on Wednesday. TD Cowen cut their price target on shares of J. M. Smucker from $140.00 to $135.00 and set a “buy” rating for the company in a report on Friday, June 7th. Finally, 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 report on Thursday, June 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $132.57.

Insiders Place Their Bets

In other news, CEO Mark T. Smucker sold 10,000 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $110.16, for a total value of $1,101,600.00. Following the sale, the chief executive officer now directly owns 78,757 shares in the company, valued at $8,675,871.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by company insiders.

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.