M&T Bank Corp Trims Holdings in The J. M. Smucker Company (NYSE:SJM)

M&T Bank Corp reduced its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 4.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,044 shares of the company’s stock after selling 2,434 shares during the quarter. M&T Bank Corp’s holdings in J. M. Smucker were worth $6,182,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Studio Investment Management LLC purchased a new stake in J. M. Smucker in the 2nd quarter valued at about $26,000. Venturi Wealth Management LLC raised its stake in shares of J. M. Smucker by 1,329.4% during the third quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after acquiring an additional 226 shares in the last quarter. Quarry LP boosted its holdings in shares of J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after purchasing an additional 219 shares during the period. Catalyst Capital Advisors LLC bought a new position in J. M. Smucker in the third quarter worth approximately $39,000. Finally, Eastern Bank purchased a new position in J. M. Smucker during the 3rd quarter worth $40,000. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Price Performance

Shares of SJM opened at $109.89 on Monday. The company has a 50 day moving average of $115.13 and a two-hundred day moving average of $115.94. The company has a market cap of $11.69 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 3.46 and a beta of 0.26. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $134.62.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.25. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the business earned $2.59 EPS. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. As a group, analysts predict that The J. M. Smucker Company will post 9.89 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were given a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.93%. The ex-dividend date was Friday, November 15th. J. M. Smucker’s payout ratio is currently 87.45%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. TD Cowen lowered their target price 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. DA Davidson reaffirmed a “neutral” rating and issued a $121.00 price objective on shares of J. M. Smucker in a research note on Thursday, August 29th. Barclays cut their target price on shares of J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 4th. Bank of America lowered their price target on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, Stifel Nicolaus downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $135.00 to $125.00 in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, J. M. Smucker has a consensus rating of “Hold” and a consensus target price of $128.56.

Insider Buying and Selling

In related news, CFO Tucker H. Marshall sold 994 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $113.00, for a total value of $112,322.00. Following the transaction, the chief financial officer now directly owns 18,734 shares of the company’s stock, valued at $2,116,942. This represents a 5.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.40% of the stock is owned by company insiders.

J. M. Smucker Company 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.