SG Americas Securities LLC lowered its stake in shares of The J. M. Smucker Company (NYSE:SJM – Get Rating) by 61.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,071 shares of the company’s stock after selling 6,607 shares during the period. SG Americas Securities LLC’s holdings in J. M. Smucker were worth $551,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently made changes to their positions in SJM. Shore Point Advisors LLC acquired a new stake in shares of J. M. Smucker in the 4th quarter worth about $27,000. Castle Financial & Retirement Planning Associates Inc. acquired a new stake in shares of J. M. Smucker in the 4th quarter worth about $30,000. Okabena Investment Services Inc. acquired a new stake in shares of J. M. Smucker in the 4th quarter worth about $32,000. FSB Premier Wealth Management Inc. acquired a new stake in shares of J. M. Smucker in the 4th quarter worth about $37,000. Finally, Rockbridge Investment Management LCC raised its holdings in shares of J. M. Smucker by 335.9% in the 4th quarter. Rockbridge Investment Management LCC now owns 279 shares of the company’s stock worth $38,000 after acquiring an additional 215 shares during the last quarter. Institutional investors and hedge funds own 83.02% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Credit Suisse Group set a $140.00 target price on shares of J. M. Smucker in a research report on Tuesday, July 19th. Consumer Edge cut shares of J. M. Smucker from an “equal weight” rating to an “underweight” rating in a research report on Thursday, June 16th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of J. M. Smucker from $133.00 to $131.00 in a research report on Wednesday, June 8th. UBS Group lifted their target price on shares of J. M. Smucker to $124.00 in a research report on Thursday, June 9th. Finally, Citigroup lifted their target price on shares of J. M. Smucker to $137.00 in a research report on Thursday, June 9th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $133.18.
J. M. Smucker Trading Down 0.8 %
J. M. Smucker (NYSE:SJM – Get Rating) last released its quarterly earnings data on Tuesday, June 7th. The company reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.35. J. M. Smucker had a net margin of 7.90% and a return on equity of 11.71%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the business earned $1.89 EPS. J. M. Smucker’s revenue was up 5.9% compared to the same quarter last year. Sell-side analysts anticipate that The J. M. Smucker Company will post 8.31 earnings per share for the current year.
J. M. Smucker Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 12th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.07%. This is a positive change from J. M. Smucker’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Thursday, August 11th. J. M. Smucker’s payout ratio is currently 67.92%.
J. M. Smucker 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, shortening and oils, and 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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