Bank of New York Mellon Corp Sells 936 Shares of The J. M. Smucker Company (NYSE:SJM)

Bank of New York Mellon Corp reduced its holdings in The J. M. Smucker Company (NYSE:SJM – Get Rating) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,014,658 shares of the company’s stock after selling 936 shares during the quarter. Bank of New York Mellon Corp’s holdings in J. M. Smucker were worth $139,424,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Toroso Investments LLC bought a new stake in shares of J. M. Smucker in the 3rd quarter worth approximately $373,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of J. M. Smucker in the 3rd quarter worth approximately $1,357,000. CENTRAL TRUST Co grew its position in shares of J. M. Smucker by 0.7% in the 3rd quarter. CENTRAL TRUST Co now owns 21,686 shares of the company’s stock worth $2,980,000 after buying an additional 152 shares during the last quarter. M&T Bank Corp grew its position in shares of J. M. Smucker by 4.0% in the 3rd quarter. M&T Bank Corp now owns 64,882 shares of the company’s stock worth $8,915,000 after buying an additional 2,516 shares during the last quarter. Finally, Warther Private Wealth LLC purchased a new position in shares of J. M. Smucker in the 3rd quarter valued at approximately $300,000. 79.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at J. M. Smucker

In other J. M. Smucker news, Director Richard K. Smucker sold 26,294 shares of the business’s 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 owns 629,282 shares of the company’s stock, valued at $94,417,471.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Mark T. Smucker sold 30,000 shares of the business’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $153.41, for a total value of $4,602,300.00. Following the transaction, the chief executive officer now directly owns 110,260 shares in the company, valued at $16,914,986.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard K. Smucker sold 26,294 shares of the business’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $150.04, for a total value of $3,945,151.76. Following the completion of the transaction, the director now owns 629,282 shares in the company, valued at $94,417,471.28. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SJM shares. Deutsche Bank Aktiengesellschaft raised their target price on J. M. Smucker from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Tuesday, December 6th. JPMorgan Chase & Co. raised their target price on J. M. Smucker from $157.00 to $158.00 and gave the company a “neutral” rating in a research note on Thursday, March 2nd. StockNews.com started coverage on J. M. Smucker in a research note on Thursday. They issued a “hold” rating for the company. Stifel Nicolaus raised their target price on J. M. Smucker from $148.00 to $155.00 in a research note on Thursday, December 15th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $123.00 price objective on shares of J. M. Smucker in a research note on Monday, November 21st. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, J. M. Smucker has a consensus rating of “Hold” and a consensus price target of $149.70.

J. M. Smucker Stock Performance

Shares of SJM opened at $151.88 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.16 and a quick ratio of 0.45. The J. M. Smucker Company has a one year low of $119.82 and a one year high of $163.07. The firm has a market capitalization of $16.20 billion, a P/E ratio of 22.87, a PEG ratio of 4.42 and a beta of 0.21. The business has a fifty day moving average of $150.62 and a 200 day moving average of $148.44.

J. M. Smucker (NYSE:SJM – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.13 by $0.08. J. M. Smucker had a return on equity of 11.10% and a net margin of 8.54%. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the company posted $2.33 earnings per share. J. M. Smucker’s revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that The J. M. Smucker Company will post 8.68 EPS for the current year.

J. M. Smucker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders 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 2.69%. The ex-dividend date of this dividend was Thursday, February 9th. J. M. Smucker’s dividend payout ratio is presently 61.45%.

About J. M. Smucker

(Get Rating)

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.