Raymond James & Associates Buys 56,019 Shares of The J. M. Smucker Company (NYSE:SJM)

Raymond James & Associates boosted its holdings in The J. M. Smucker Company (NYSE:SJM) by 30.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 240,627 shares of the company’s stock after buying an additional 56,019 shares during the period. Raymond James & Associates owned 0.23% of J. M. Smucker worth $26,238,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SJM. Wolverine Asset Management LLC raised its stake in J. M. Smucker by 300.0% during the 4th quarter. Wolverine Asset Management LLC now owns 200 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares during the period. Advantage Trust Co bought a new stake in shares of J. M. Smucker during the fourth quarter valued at approximately $25,000. Cooksen Wealth LLC bought a new stake in shares of J. M. Smucker during the fourth quarter valued at approximately $33,000. Venturi Wealth Management LLC purchased a new position in shares of J. M. Smucker in the first quarter worth $35,000. Finally, Principal Securities Inc. bought a new position in shares of J. M. Smucker during the fourth quarter worth $43,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on SJM. DA Davidson reduced their price target on shares of J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating on the stock in a report on Monday, June 10th. TD Cowen cut their price target on J. M. Smucker from $140.00 to $135.00 and set a “buy” rating for the company in a report on Friday, June 7th. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Argus decreased their price target on shares of J. M. Smucker from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, June 13th. Finally, Citigroup reduced their target price on shares of J. M. Smucker from $139.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $132.57.

J. M. Smucker Stock Performance

SJM opened at $121.59 on Wednesday. The firm has a market capitalization of $12.91 billion, a PE ratio of 17.08, a P/E/G ratio of 2.38 and a beta of 0.25. The J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $147.48. The firm has a 50 day moving average of $114.82 and a two-hundred day moving average of $117.16. The company has a current ratio of 0.52, a quick ratio of 0.25 and a debt-to-equity ratio of 0.88.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Thursday, June 6th. The company reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.34. J. M. Smucker had a net margin of 9.10% and a return on equity of 14.15%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm posted $2.64 earnings per share. The company’s revenue was down 1.3% compared to the same quarter last year. On average, analysts anticipate that The J. M. Smucker Company will post 10.05 EPS for the current year.

J. M. Smucker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be given a dividend of $1.08 per share. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date is Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.55%. J. M. Smucker’s dividend payout ratio (DPR) is 60.67%.

Insider Activity at J. M. Smucker

In other J. M. Smucker news, CEO Mark T. Smucker sold 10,000 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the transaction, the chief executive officer now directly owns 78,757 shares of the company’s stock, valued at $8,675,871.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.40% of the stock is owned by corporate insiders.

J. M. Smucker Company 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.