Curbstone Financial Management Corp lowered its position in The J. M. Smucker Company (NYSE:SJM – Free Report) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,178 shares of the company’s stock after selling 150 shares during the period. Curbstone Financial Management Corp’s holdings in J. M. Smucker were worth $1,946,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Two Sigma Investments LP increased its position in shares of J. M. Smucker by 192.9% in the fourth quarter. Two Sigma Investments LP now owns 368,238 shares of the company’s stock valued at $58,351,000 after buying an additional 242,517 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in J. M. Smucker in the 1st quarter valued at about $597,000. O Shaughnessy Asset Management LLC increased its holdings in J. M. Smucker by 4.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 15,770 shares of the company’s stock valued at $2,499,000 after acquiring an additional 710 shares in the last quarter. Impax Asset Management Group plc raised its position in J. M. Smucker by 92.0% during the first quarter. Impax Asset Management Group plc now owns 5,141 shares of the company’s stock worth $809,000 after acquiring an additional 2,463 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its holdings in shares of J. M. Smucker by 89.3% in the first quarter. Vontobel Holding Ltd. now owns 102,430 shares of the company’s stock valued at $16,119,000 after purchasing an additional 48,318 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
SJM has been the subject of several research reports. Bank of America downgraded J. M. Smucker from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $170.00 to $145.00 in a research report on Thursday. Barclays cut their price target on J. M. Smucker from $165.00 to $160.00 in a report on Thursday, June 8th. UBS Group dropped their price objective on J. M. Smucker from $159.00 to $157.00 in a research report on Wednesday, May 31st. JPMorgan Chase & Co. decreased their price target on shares of J. M. Smucker from $153.00 to $137.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, StockNews.com assumed coverage on shares of J. M. Smucker in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $149.93.
J. M. Smucker Stock Down 1.3 %
SJM stock traded down $1.72 during trading on Thursday, reaching $126.69. The stock had a trading volume of 510,737 shares, compared to its average volume of 943,431. The company has a current ratio of 1.28, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average price of $145.44 and a 200 day moving average price of $149.90. The company has a market capitalization of $12.94 billion, a P/E ratio of -755.35, a PEG ratio of 2.42 and a beta of 0.23. The J. M. Smucker Company has a 1-year low of $126.51 and a 1-year high of $163.07.
J. M. Smucker (NYSE:SJM – Get Free Report) last issued its quarterly earnings results on Tuesday, August 29th. The company reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.19. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. J. M. Smucker had a negative net margin of 0.21% and a positive return on equity of 12.96%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 earnings per share. On average, equities analysts anticipate that The J. M. Smucker Company will post 9.72 earnings per share for the current year.
J. M. Smucker Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were issued a $1.06 dividend. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.02. This represents a $4.24 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Thursday, August 17th. J. M. Smucker’s payout ratio is currently -2,494.12%.
Insider Buying and Selling at J. M. Smucker
In other news, insider Jill R. Penrose sold 3,009 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $153.65, for a total value of $462,332.85. Following the completion of the sale, the insider now directly owns 6,058 shares in the company, valued at approximately $930,811.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jill R. Penrose sold 3,009 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $153.65, for a total transaction of $462,332.85. Following the completion of the sale, the insider now owns 6,058 shares of the company’s stock, valued at approximately $930,811.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark T. Smucker sold 9,965 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $152.30, for a total transaction of $1,517,669.50. Following the completion of the transaction, the chief executive officer now directly owns 48,685 shares in the company, valued at approximately $7,414,725.50. The disclosure for this sale can be found here. Insiders have sold 42,474 shares of company stock worth $6,381,615 over the last quarter. 3.50% of the stock is owned by corporate insiders.
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, toppings, and syrups; jelly products; nut mix products; shortening and oils; 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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