The J. M. Smucker Company (NYSE:SJM) Shares Sold by LSV Asset Management

LSV Asset Management trimmed its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 6.5% in the second quarter, Holdings Channel reports. The firm owned 35,922 shares of the company’s stock after selling 2,485 shares during the period. LSV Asset Management’s holdings in J. M. Smucker were worth $3,917,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Hudson Edge Investment Partners Inc. increased its position in shares of J. M. Smucker by 2.4% during the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 39,446 shares of the company’s stock worth $4,301,000 after purchasing an additional 919 shares during the last quarter. Ballentine Partners LLC purchased a new position in J. M. Smucker during the 2nd quarter valued at about $556,000. Caprock Group LLC boosted its holdings in J. M. Smucker by 6.7% during the 2nd quarter. Caprock Group LLC now owns 3,934 shares of the company’s stock valued at $429,000 after acquiring an additional 246 shares during the period. Acadian Asset Management LLC boosted its holdings in J. M. Smucker by 342.8% during the 2nd quarter. Acadian Asset Management LLC now owns 4,468 shares of the company’s stock valued at $485,000 after acquiring an additional 3,459 shares during the period. Finally, Chris Bulman Inc purchased a new position in J. M. Smucker during the 2nd quarter valued at about $76,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on SJM. Barclays lowered their target price on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. DA Davidson restated a “neutral” rating and set a $121.00 target price on shares of J. M. Smucker in a report on Thursday, August 29th. StockNews.com cut J. M. Smucker from a “hold” rating to a “sell” rating in a report on Friday, September 6th. BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. Finally, Bank of America decreased their price objective on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, J. M. Smucker presently has a consensus rating of “Hold” and an average target price of $127.25.

Insider Buying and Selling

In related news, CEO Mark T. Smucker sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the completion of the sale, 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 SEC, which is available through the SEC website. 3.40% of the stock is owned by company insiders.

J. M. Smucker Price Performance

SJM stock opened at $117.49 on Thursday. The business has a 50 day moving average price of $117.57 and a 200 day moving average price of $116.28. The stock has a market cap of $12.50 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 3.19 and a beta of 0.24. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $134.62. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.27. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The firm’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.21 earnings per share. Equities research analysts anticipate that The J. M. Smucker Company will post 9.82 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were paid a dividend of $1.08 per share. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date was Friday, August 16th. This represents a $4.32 annualized dividend and a yield of 3.68%. J. M. Smucker’s payout ratio is presently 60.67%.

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.