Kimelman & Baird LLC Buys Shares of 4,500 The J. M. Smucker Company (NYSE:SJM)

Kimelman & Baird LLC bought a new position in shares of The J. M. Smucker Company (NYSE:SJM) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,500 shares of the company’s stock, valued at approximately $491,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SJM. Studio Investment Management LLC bought a new position in J. M. Smucker in the second quarter valued at approximately $26,000. Cooksen Wealth LLC acquired a new position in J. M. Smucker in the 4th quarter worth $33,000. Quarry LP increased its holdings in J. M. Smucker by 212.6% during the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after purchasing an additional 219 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of J. M. Smucker in the 2nd quarter valued at about $42,000. Finally, Central Valley Advisors LLC bought a new stake in shares of J. M. Smucker in the second quarter valued at about $45,000. 81.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SJM shares. TD Cowen cut their price objective on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Argus reduced 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. Bank of America lowered their target price on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. StockNews.com lowered J. M. Smucker from a “hold” rating to a “sell” rating in a report on Saturday, September 14th. Finally, Citigroup decreased their price target on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $127.25.

J. M. Smucker Stock Performance

Shares of NYSE:SJM opened at $121.15 on Monday. The J. M. Smucker Company has a 1 year low of $105.69 and a 1 year high of $134.62. The stock has a market capitalization of $12.89 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 3.21 and a beta of 0.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The company’s 50 day simple moving average is $118.93 and its 200 day simple moving average is $116.06.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Wednesday, August 28th. The company reported $2.44 EPS 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 the consensus estimate of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.21 earnings per share. As a group, research analysts predict that The J. M. Smucker Company will post 9.82 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were given a $1.08 dividend. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Friday, August 16th. J. M. Smucker’s dividend payout ratio is 60.67%.

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.