The J. M. Smucker Company (NYSE:SJM) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in shares of The J. M. Smucker Company (NYSE:SJMGet Rating) by 3.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,730 shares of the company’s stock after selling 1,615 shares during the period. State of Alaska Department of Revenue’s holdings in J. M. Smucker were worth $6,749,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Valmark Advisers Inc. increased its position in shares of J. M. Smucker by 2.9% during the first quarter. Valmark Advisers Inc. now owns 2,487 shares of the company’s stock valued at $337,000 after acquiring an additional 71 shares during the last quarter. Kinneret Advisory LLC boosted its stake in shares of J. M. Smucker by 2.3% in the first quarter. Kinneret Advisory LLC now owns 3,302 shares of the company’s stock valued at $447,000 after purchasing an additional 74 shares during the period. First National Trust Co boosted its stake in shares of J. M. Smucker by 3.4% in the first quarter. First National Trust Co now owns 2,271 shares of the company’s stock valued at $307,000 after purchasing an additional 75 shares during the period. Commerce Bank boosted its stake in shares of J. M. Smucker by 0.5% in the fourth quarter. Commerce Bank now owns 16,836 shares of the company’s stock valued at $2,287,000 after purchasing an additional 80 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in shares of J. M. Smucker by 0.9% in the first quarter. Quantinno Capital Management LP now owns 10,097 shares of the company’s stock valued at $1,367,000 after purchasing an additional 88 shares during the period. 79.56% of the stock is currently owned by institutional investors and hedge funds.

J. M. Smucker Stock Up 0.8 %

Shares of NYSE:SJM opened at $139.96 on Tuesday. The firm has a 50 day simple moving average of $136.28 and a 200-day simple moving average of $133.92. The company has a market capitalization of $14.91 billion, a PE ratio of 25.73, a P/E/G ratio of 5.87 and a beta of 0.22. The J. M. Smucker Company has a twelve month low of $119.09 and a twelve month high of $146.74. The company has a current ratio of 1.05, a quick ratio of 0.45 and a debt-to-equity ratio of 0.53.

J. M. Smucker (NYSE:SJMGet Rating) last posted its quarterly earnings results on Tuesday, August 23rd. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.27. J. M. Smucker had a net margin of 7.33% and a return on equity of 11.38%. During the same quarter in the previous year, the firm posted $1.90 EPS. On average, equities analysts predict that The J. M. Smucker Company will post 8.54 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently announced 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. This represents a $4.08 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date was Thursday, August 11th. This is an increase from J. M. Smucker’s previous quarterly dividend of $0.99. J. M. Smucker’s dividend payout ratio is 75.00%.

Wall Street Analysts Forecast Growth

SJM has been the subject of several recent research reports. Bank of America raised shares of J. M. Smucker from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $155.00 in a research note on Wednesday, August 17th. Stifel Nicolaus raised their price objective on shares of J. M. Smucker from $140.00 to $148.00 in a research note on Wednesday, August 24th. Consumer Edge lowered shares of J. M. Smucker from an “equal weight” rating to an “underweight” rating in a research note on Thursday, June 16th. Morgan Stanley raised their price objective on shares of J. M. Smucker from $117.00 to $132.00 and gave the company an “underweight” rating in a research note on Wednesday, August 24th. Finally, Citigroup lifted their price target on shares of J. M. Smucker to $137.00 in a research note on Thursday, June 9th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $138.82.

Insider Buying and Selling at J. M. Smucker

In other news, insider Jill R. Penrose sold 4,543 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $140.83, for a total transaction of $639,790.69. Following the completion of the transaction, the insider now directly owns 9,106 shares in the company, valued at approximately $1,282,397.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Jill R. Penrose sold 4,543 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $140.83, for a total transaction of $639,790.69. Following the completion of the transaction, the insider now directly owns 9,106 shares in the company, valued at approximately $1,282,397.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Tucker H. Marshall sold 19,775 shares of the firm’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 transaction, the chief financial officer now owns 7,668 shares in the company, valued at $1,098,441. The disclosure for this sale can be found here. Insiders sold 63,019 shares of company stock valued at $8,995,996 over the last 90 days. 3.70% of the stock is owned by corporate insiders.

About J. M. Smucker

(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.

See Also

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

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