Aviance Capital Partners LLC Takes Position in The J. M. Smucker Company (NYSE:SJM)

Aviance Capital Partners LLC purchased a new stake in shares of The J. M. Smucker Company (NYSE:SJM) in the first quarter, according to its most recent filing with the SEC. The firm purchased 3,889 shares of the company’s stock, valued at approximately $490,000.

Other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of J. M. Smucker during the 4th quarter worth approximately $157,077,000. Ameriprise Financial Inc. raised its position in shares of J. M. Smucker by 487.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,459,200 shares of the company’s stock worth $178,961,000 after purchasing an additional 1,210,837 shares during the last quarter. Nordea Investment Management AB raised its position in shares of J. M. Smucker by 363.8% during the 4th quarter. Nordea Investment Management AB now owns 1,274,015 shares of the company’s stock worth $160,258,000 after purchasing an additional 999,315 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of J. M. Smucker by 21,858.1% during the 4th 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 during the last quarter. Finally, Vanguard Group Inc. grew its stake in J. M. Smucker by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock worth $1,702,515,000 after acquiring an additional 518,433 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction, the chief executive officer now owns 78,757 shares in the company, valued at $8,675,871.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.50% of the company’s stock.

J. M. Smucker Stock Up 2.0 %

SJM stock traded up $2.18 during trading on Monday, reaching $111.22. The stock had a trading volume of 122,267 shares, compared to its average volume of 1,270,779. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $153.94. The company has a current ratio of 0.52, a quick ratio of 0.25 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $11.81 billion, a P/E ratio of 15.53, a PEG ratio of 2.18 and a beta of 0.25. The firm has a fifty day moving average price of $112.45 and a 200 day moving average price of $120.25.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Thursday, June 6th. The company reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.34. J. M. Smucker had a net margin of 9.10% and a return on equity of 14.15%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the business posted $2.64 EPS. The firm’s revenue was down 1.3% compared to the same quarter last year. On average, equities analysts anticipate that The J. M. Smucker Company will post 10.06 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 3.81%. The ex-dividend date was Thursday, May 16th. J. M. Smucker’s dividend payout ratio (DPR) is 59.55%.

Wall Street Analyst Weigh In

Several analysts have commented on SJM shares. DA Davidson lowered their target price on shares of J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating for the company in a research note on Monday, June 10th. Barclays lowered their target price on shares of J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Citigroup boosted their price objective on shares of J. M. Smucker from $137.00 to $139.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Argus lowered their price objective 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. Finally, TD Cowen lowered their price objective on shares of J. M. Smucker from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, June 7th. One 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 company’s stock. Based on data from MarketBeat.com, J. M. Smucker presently has an average rating of “Hold” and a consensus target price of $132.64.

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.