KFG Wealth Management LLC Purchases New Stake in The J. M. Smucker Company (NYSE:SJM)

KFG Wealth Management LLC purchased a new stake in The J. M. Smucker Company (NYSE:SJM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,850 shares of the company’s stock, valued at approximately $233,000.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in J. M. Smucker during the 4th quarter worth $157,077,000. Ameriprise Financial Inc. increased its position in 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 buying an additional 1,210,837 shares during the period. Nordea Investment Management AB increased its position in 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 buying an additional 999,315 shares during the period. Point72 Asset Management L.P. increased its position in 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 buying an additional 677,600 shares during the period. Finally, Vanguard Group Inc. increased its position in J. M. Smucker by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock worth $1,702,515,000 after buying an additional 518,433 shares during the period. Institutional investors own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SJM. StockNews.com cut J. M. Smucker from a “hold” rating to a “sell” rating in a research report on Thursday. Argus decreased their price target on J. M. Smucker from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, June 13th. Citigroup raised their price target on J. M. Smucker from $137.00 to $139.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. TD Cowen decreased their price target on J. M. Smucker from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Finally, DA Davidson decreased their price target on 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $132.64.

J. M. Smucker Stock Performance

Shares of SJM stock opened at $109.03 on Thursday. The business’s 50-day moving average price is $111.98 and its 200-day moving average price is $119.97. 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 firm has a market capitalization of $11.58 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 2.21 and a beta of 0.25. The J. M. Smucker Company has a 12 month low of $105.69 and a 12 month high of $153.94.

J. M. Smucker (NYSE:SJM) last posted 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. The company 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 firm’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.64 earnings per share. Equities research analysts forecast that The J. M. Smucker Company will post 10.06 EPS for the current year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend was Thursday, May 16th. J. M. Smucker’s dividend payout ratio is currently 59.55%.

Insider Buying and Selling

In related news, CEO Mark T. Smucker sold 10,000 shares of J. M. Smucker stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 78,757 shares of the company’s stock, valued at $8,675,871.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.50% of the stock is owned by 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.