Ethic Inc. Increases Holdings in The J. M. Smucker Company (NYSE:SJM)

Ethic Inc. lifted its position in shares of The J. M. Smucker Company (NYSE:SJMGet Rating) by 34.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 12,909 shares of the company’s stock after purchasing an additional 3,297 shares during the quarter. Ethic Inc.’s holdings in J. M. Smucker were worth $1,748,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Horizon Investments LLC raised its holdings in shares of J. M. Smucker by 17.4% during the 1st quarter. Horizon Investments LLC now owns 3,269 shares of the company’s stock valued at $440,000 after buying an additional 484 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new position in J. M. Smucker in the 1st quarter worth approximately $742,000. Invesco Ltd. increased its stake in J. M. Smucker by 8.3% in the 1st quarter. Invesco Ltd. now owns 1,820,578 shares of the company’s stock worth $246,525,000 after purchasing an additional 139,158 shares during the period. Centaurus Financial Inc. purchased a new position in J. M. Smucker in the 1st quarter worth approximately $138,000. Finally, Renaissance Technologies LLC increased its stake in J. M. Smucker by 10.7% in the 1st quarter. Renaissance Technologies LLC now owns 953,976 shares of the company’s stock worth $129,178,000 after purchasing an additional 92,400 shares during the period. 79.56% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Trading Up 0.6 %

NYSE SJM opened at $139.44 on Monday. The company has a quick ratio of 0.45, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The J. M. Smucker Company has a twelve month low of $119.09 and a twelve month high of $146.74. The firm has a market capitalization of $14.86 billion, a PE ratio of 25.63, a P/E/G ratio of 5.90 and a beta of 0.22. The stock’s 50 day moving average is $135.38 and its 200 day moving average is $133.63.

J. M. Smucker (NYSE:SJMGet Rating) last released its quarterly earnings results on Tuesday, August 23rd. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.27. J. M. Smucker had a return on equity of 11.38% and a net margin of 7.33%. During the same quarter last year, the firm earned $1.90 EPS. Research analysts forecast that The J. M. Smucker Company will post 8.54 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, August 11th. This is a positive change from J. M. Smucker’s previous quarterly dividend of $0.99. This represents a $4.08 annualized dividend and a dividend yield of 2.93%. J. M. Smucker’s payout ratio is currently 75.00%.

Insider Activity at J. M. Smucker

In related news, CFO Tucker H. Marshall sold 19,775 shares of J. M. Smucker stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $143.25, for a total transaction of $2,832,768.75. Following the sale, the chief financial officer now directly owns 7,668 shares in the company, valued at $1,098,441. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other J. M. Smucker news, CFO Tucker H. Marshall sold 19,775 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $143.25, for a total value of $2,832,768.75. Following the sale, the chief financial officer now directly owns 7,668 shares of the company’s stock, valued at $1,098,441. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jill R. Penrose sold 4,543 shares of the business’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $140.83, for a total value of $639,790.69. Following the completion of the sale, the insider now directly owns 9,106 shares in the company, valued at $1,282,397.98. The disclosure for this sale can be found here. Insiders have sold 63,019 shares of company stock worth $8,995,996 over the last ninety days. 3.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SJM shares. Citigroup lifted their price target on J. M. Smucker to $137.00 in a research note on Thursday, June 9th. Consumer Edge cut J. M. Smucker from an “equal weight” rating to an “underweight” rating in a research note on Thursday, June 16th. Morgan Stanley lifted their price target on J. M. Smucker from $117.00 to $132.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 24th. Credit Suisse Group lifted their price target on J. M. Smucker from $140.00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 24th. Finally, Bank of America raised J. M. Smucker from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $155.00 in a research note on Wednesday, August 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $138.82.

J. M. Smucker Company Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding SJM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The J. M. Smucker Company (NYSE:SJMGet Rating).

Institutional Ownership by Quarter for J. M. Smucker (NYSE:SJM)

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