M&T Bank Corp lifted its stake in shares of The J. M. Smucker Company (NYSE:SJM – Get Rating) by 4.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,882 shares of the company’s stock after purchasing an additional 2,516 shares during the quarter. M&T Bank Corp owned 0.06% of J. M. Smucker worth $8,915,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sawtooth Solutions LLC raised its stake in shares of J. M. Smucker by 2.4% during the 3rd quarter. Sawtooth Solutions LLC now owns 3,012 shares of the company’s stock valued at $414,000 after purchasing an additional 72 shares during the period. Kinneret Advisory LLC grew its position in J. M. Smucker by 2.3% during the first quarter. Kinneret Advisory LLC now owns 3,302 shares of the company’s stock worth $447,000 after buying an additional 74 shares in the last quarter. Vantage Consulting Group Inc grew its position in J. M. Smucker by 4.9% during the second quarter. Vantage Consulting Group Inc now owns 1,704 shares of the company’s stock worth $218,000 after buying an additional 79 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in J. M. Smucker by 1.8% during the third quarter. Stratos Wealth Partners LTD. now owns 4,494 shares of the company’s stock worth $618,000 after buying an additional 79 shares in the last quarter. Finally, Money Concepts Capital Corp grew its position in J. M. Smucker by 2.9% during the third quarter. Money Concepts Capital Corp now owns 3,109 shares of the company’s stock worth $427,000 after buying an additional 87 shares in the last quarter. 79.21% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts recently commented on the company. StockNews.com assumed coverage on J. M. Smucker in a research report on Thursday. They set a “hold” rating for the company. Credit Suisse Group boosted their target price on J. M. Smucker from $145.00 to $165.00 in a research report on Thursday, December 15th. Morgan Stanley upgraded J. M. Smucker from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $135.00 to $158.00 in a research report on Tuesday, December 20th. JPMorgan Chase & Co. upped their price objective on J. M. Smucker from $157.00 to $158.00 and gave the stock a “neutral” rating in a report on Thursday, March 2nd. Finally, UBS Group upgraded J. M. Smucker from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $132.00 to $155.00 in a report on Friday, February 10th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $149.70.
J. M. Smucker Trading Up 1.3 %
J. M. Smucker (NYSE:SJM – Get Rating) last issued its earnings results on Tuesday, February 28th. The company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.08. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.22 billion. J. M. Smucker had a return on equity of 11.10% and a net margin of 8.54%. J. M. Smucker’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.33 EPS. As a group, sell-side analysts anticipate that The J. M. Smucker Company will post 8.68 earnings per share for the current year.
J. M. Smucker Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Thursday, February 9th. J. M. Smucker’s dividend payout ratio is presently 61.45%.
Insider Activity at J. M. Smucker
In related news, Director Richard K. Smucker sold 26,294 shares of the stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $150.04, for a total transaction of $3,945,151.76. Following the completion of the sale, the director now directly owns 629,282 shares in the company, valued at approximately $94,417,471.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is currently owned by company insiders.
J. M. Smucker Profile
The J. M. Smucker Co engages in the manufacture and marketing of 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 domestic sales of Folgers, Dunkin’ Donuts, and Café Bustelo branded coffee.
- Get a free copy of the StockNews.com research report on J. M. Smucker (SJM)
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