Shelter Mutual Insurance Co reduced its stake in shares of J M Smucker Co (NYSE:SJM) by 8.8% in the second quarter, HoldingsChannel reports. The firm owned 53,720 shares of the company’s stock after selling 5,200 shares during the period. J M Smucker makes up approximately 1.8% of Shelter Mutual Insurance Co’s investment portfolio, making the stock its 24th largest position. Shelter Mutual Insurance Co’s holdings in J M Smucker were worth $6,188,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of SJM. Hodges Capital Management Inc. purchased a new stake in J M Smucker in the first quarter valued at about $449,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in J M Smucker by 20.1% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 39,921 shares of the company’s stock valued at $4,651,000 after buying an additional 6,691 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in J M Smucker by 2.2% in the first quarter. Commonwealth Equity Services LLC now owns 64,988 shares of the company’s stock valued at $7,571,000 after buying an additional 1,400 shares during the last quarter. Cleararc Capital Inc. purchased a new stake in J M Smucker in the first quarter valued at about $224,000. Finally, Quantinno Capital Management LP purchased a new stake in J M Smucker in the first quarter valued at about $751,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.
SJM has been the subject of a number of research analyst reports. TheStreet cut J M Smucker from a “b-” rating to a “c+” rating in a research note on Tuesday, August 6th. ValuEngine lowered J M Smucker from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Wells Fargo & Co increased their price objective on J M Smucker from $110.00 to $114.00 and gave the company a “market perform” rating in a report on Friday, June 7th. Morgan Stanley increased their price objective on J M Smucker from $117.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, June 7th. Finally, Bank of America reissued a “neutral” rating and issued a $107.00 price objective on shares of J M Smucker in a report on Friday, May 17th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $115.44.
In other news, CEO Mark T. Smucker sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $113.28, for a total value of $249,216.00. Following the transaction, the chief executive officer now owns 140,975 shares in the company, valued at $15,969,648. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph Stanziano sold 319 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $119.20, for a total value of $38,024.80. Following the completion of the transaction, the insider now owns 14,857 shares in the company, valued at approximately $1,770,954.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,269 shares of company stock worth $372,201. 3.70% of the stock is owned by corporate insiders.
J M Smucker stock traded up $0.11 during midday trading on Thursday, hitting $113.47. 12,095 shares of the company were exchanged, compared to its average volume of 721,376. The company has a market cap of $12.95 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 3.31 and a beta of 0.42. J M Smucker Co has a fifty-two week low of $91.32 and a fifty-two week high of $128.43. The stock’s fifty day simple moving average is $114.65. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.69 and a quick ratio of 0.31.
J M Smucker (NYSE:SJM) last posted its earnings results on Thursday, June 6th. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.97 by $0.11. J M Smucker had a return on equity of 11.80% and a net margin of 6.56%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company earned $1.93 earnings per share. J M Smucker’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts expect that J M Smucker Co will post 8.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be issued a $0.88 dividend. This is a positive change from J M Smucker’s previous quarterly dividend of $0.85. This represents a $3.52 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Thursday, August 15th. J M Smucker’s dividend payout ratio (DPR) is presently 41.01%.
J M Smucker Company Profile
The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.
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