Palumbo Wealth Management LLC Sells 2,675 Shares of The J. M. Smucker Company (NYSE:SJM)

Palumbo Wealth Management LLC lessened its stake in The J. M. Smucker Company (NYSE:SJM) by 19.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,420 shares of the company’s stock after selling 2,675 shares during the quarter. Palumbo Wealth Management LLC’s holdings in J. M. Smucker were worth $1,258,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of J. M. Smucker by 3.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 324,381 shares of the company’s stock valued at $35,721,000 after acquiring an additional 11,339 shares during the last quarter. Raymond James Trust N.A. increased its stake in J. M. Smucker by 6.8% in the third quarter. Raymond James Trust N.A. now owns 4,846 shares of the company’s stock valued at $587,000 after purchasing an additional 310 shares in the last quarter. Nordea Investment Management AB raised its holdings in J. M. Smucker by 16.5% in the fourth quarter. Nordea Investment Management AB now owns 1,361,902 shares of the company’s stock worth $150,082,000 after purchasing an additional 192,748 shares during the period. Miracle Mile Advisors LLC bought a new position in shares of J. M. Smucker during the fourth quarter worth $1,273,000. Finally, Signal Advisors Wealth LLC grew its holdings in shares of J. M. Smucker by 336.3% in the 4th quarter. Signal Advisors Wealth LLC now owns 12,950 shares of the company’s stock valued at $1,426,000 after buying an additional 9,982 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Transactions at J. M. Smucker

In related news, CFO Tucker H. Marshall sold 994 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $113.00, for a total value of $112,322.00. Following the completion of the transaction, the chief financial officer now directly owns 18,734 shares of the company’s stock, valued at approximately $2,116,942. This trade represents a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. TD Cowen downgraded J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $130.00 to $121.00 in a research note on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Stifel Nicolaus lowered their target price on J. M. Smucker from $125.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Finally, Barclays reduced their price target on shares of J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $126.78.

J. M. Smucker Price Performance

NYSE SJM opened at $102.07 on Friday. The J. M. Smucker Company has a 12-month low of $99.81 and a 12-month high of $127.59. The firm’s 50 day moving average is $107.27 and its 200-day moving average is $113.97. The company has a market capitalization of $10.86 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 3.15 and a beta of 0.27. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.51 by $0.25. The firm had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.59 EPS. Equities research analysts anticipate that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Friday, February 14th. J. M. Smucker’s dividend payout ratio (DPR) is 87.45%.

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.