Cullen Frost Bankers Inc. trimmed its stake in The J. M. Smucker Company (NYSE:SJM – Free Report) by 45.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,198 shares of the company’s stock after selling 4,251 shares during the period. Cullen Frost Bankers Inc.’s holdings in J. M. Smucker were worth $818,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Bay Advisors LLC purchased a new stake in shares of J. M. Smucker in the 2nd quarter worth $27,000. Destiny Wealth Partners LLC increased its stake in J. M. Smucker by 295.7% in the 4th quarter. Destiny Wealth Partners LLC now owns 182 shares of the company’s stock worth $29,000 after buying an additional 136 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in J. M. Smucker by 59.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 187 shares of the company’s stock worth $29,000 after buying an additional 70 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in J. M. Smucker in the 4th quarter worth $30,000. Finally, Beacon Capital Management LLC increased its stake in J. M. Smucker by 224.2% in the 4th quarter. Beacon Capital Management LLC now owns 201 shares of the company’s stock worth $32,000 after buying an additional 139 shares in the last quarter. 75.58% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. Sanford C. Bernstein increased their price target on J. M. Smucker from $135.00 to $142.00 in a research note on Wednesday, June 7th. TheStreet lowered J. M. Smucker from an “a-” rating to a “c+” rating in a research note on Tuesday, June 6th. StockNews.com started coverage on J. M. Smucker in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Stifel Nicolaus dropped their price objective on shares of J. M. Smucker from $168.00 to $160.00 in a report on Wednesday, June 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of J. M. Smucker from $158.00 to $152.00 in a report on Monday, June 12th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $154.42.
Insider Buying and Selling
In related news, Director Richard K. Smucker sold 19,576 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $151.95, for a total value of $2,974,573.20. Following the sale, the director now directly owns 623,605 shares of the company’s stock, valued at approximately $94,756,779.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Richard K. Smucker sold 19,576 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $151.95, for a total value of $2,974,573.20. Following the sale, the director now directly owns 623,605 shares of the company’s stock, valued at approximately $94,756,779.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jill R. Penrose sold 3,009 shares of the stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $153.65, for a total transaction of $462,332.85. Following the completion of the sale, the insider now directly owns 6,058 shares in the company, valued at $930,811.70. The disclosure for this sale can be found here. Insiders have sold 42,550 shares of company stock valued at $6,443,176 in the last ninety days. 3.50% of the stock is owned by company insiders.
J. M. Smucker Trading Down 0.6 %
Shares of NYSE:SJM opened at $149.15 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The J. M. Smucker Company has a 12 month low of $130.68 and a 12 month high of $163.07. The company has a 50-day moving average price of $149.74 and a 200 day moving average price of $151.38.
J. M. Smucker (NYSE:SJM – Get Free Report) last announced its quarterly earnings results on Tuesday, June 6th. The company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.23. J. M. Smucker had a negative net margin of 1.07% and a positive return on equity of 11.89%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the firm earned $2.23 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, research analysts expect that The J. M. Smucker Company will post 9.52 EPS for the current fiscal year.
J. M. Smucker Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a $1.06 dividend. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.02. This represents a $4.24 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, August 17th. J. M. Smucker’s dividend payout ratio is -438.71%.
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.
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