&Partners Acquires 581 Shares of The J. M. Smucker Company (NYSE:SJM)

&Partners grew its stake in The J. M. Smucker Company (NYSE:SJM) by 15.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,376 shares of the company’s stock after purchasing an additional 581 shares during the period. &Partners’ holdings in J. M. Smucker were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Boston Partners bought a new stake in J. M. Smucker during the first quarter worth about $364,990,000. Norges Bank acquired a new stake in J. M. Smucker during the 4th quarter valued at $157,077,000. Point72 Asset Management L.P. boosted its stake in J. M. Smucker by 21,858.1% in the fourth quarter. Point72 Asset Management L.P. now owns 680,700 shares of the company’s stock worth $86,027,000 after purchasing an additional 677,600 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of J. M. Smucker by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock worth $1,702,515,000 after purchasing an additional 518,433 shares during the last quarter. Finally, Ilex Capital Partners UK LLP acquired a new stake in shares of J. M. Smucker in the first quarter valued at $48,207,000. 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 J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $147.48. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.52 and a quick ratio of 0.25. The firm has a market capitalization of $12.96 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 2.42 and a beta of 0.25. The company’s 50 day simple moving average is $115.44 and its 200 day simple moving average is $117.05.

J. M. Smucker (NYSE:SJM) last posted its earnings results 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 firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.24 billion. J. M. Smucker had a return on equity of 14.15% and a net margin of 9.10%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.64 earnings per share. As a group, sell-side analysts anticipate that The J. M. Smucker Company will post 10.05 EPS for the current year.

J. M. Smucker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

SJM has been the topic of several research reports. DA Davidson reduced their price target on shares of J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating on the stock in a research report on Monday, June 10th. StockNews.com lowered shares of J. M. Smucker from a “hold” rating to a “sell” rating in a report on Wednesday. Barclays reduced their price objective on J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Citigroup decreased their price objective on J. M. Smucker from $139.00 to $138.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Finally, TD Cowen dropped their target price on J. M. Smucker from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, June 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, J. M. Smucker has an average rating of “Hold” and an average target price of $132.57.

Insider Transactions at J. M. Smucker

In related news, CEO Mark T. Smucker sold 10,000 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $110.16, for a total value of $1,101,600.00. Following the completion of the transaction, the chief executive officer now directly owns 78,757 shares of the company’s stock, valued at approximately $8,675,871.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.40% of the stock is owned by insiders.

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.