Beese Fulmer Investment Management Inc. cut its stake in shares of J.M. Smucker Company (The) (NYSE:SJM) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,746 shares of the company’s stock after selling 175 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in J.M. Smucker Company (The) were worth $917,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Harbour Capital Advisors LLC purchased a new stake in J.M. Smucker Company (The) during the first quarter valued at $126,000. Independence Advisors LLC purchased a new stake in J.M. Smucker Company (The) during the second quarter valued at $232,000. Fenimore Asset Management Inc. purchased a new stake in J.M. Smucker Company (The) during the first quarter valued at $200,000. Schnieders Capital Management LLC purchased a new stake in J.M. Smucker Company (The) during the first quarter valued at $217,000. Finally, Advisory Services Network LLC bought a new stake in J.M. Smucker Company (The) during the first quarter valued at approximately $221,000. 75.47% of the stock is owned by institutional investors and hedge funds.
J.M. Smucker Company (NYSE SJM) traded up 0.46% during mid-day trading on Friday, hitting $122.28. The company had a trading volume of 448,769 shares. J.M. Smucker Company has a one year low of $114.31 and a one year high of $156.23. The company has a market cap of $13.87 billion, a PE ratio of 23.98 and a beta of 0.62. The company’s 50 day moving average price is $119.21 and its 200-day moving average price is $128.65.
J.M. Smucker Company (The) (NYSE:SJM) last released its quarterly earnings results on Thursday, June 8th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.08. J.M. Smucker Company (The) had a return on equity of 12.63% and a net margin of 8.01%. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the business posted $1.19 EPS. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. Equities research analysts anticipate that J.M. Smucker Company will post $7.97 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be issued a $0.78 dividend. This is a boost from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $3.12 annualized dividend and a dividend yield of 2.55%. J.M. Smucker Company (The)’s dividend payout ratio (DPR) is presently 61.18%.
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Several research firms have recently commented on SJM. Susquehanna Bancshares Inc set a $141.00 price target on J.M. Smucker Company (The) and gave the stock a “hold” rating in a research note on Wednesday, June 7th. Zacks Investment Research upgraded J.M. Smucker Company (The) from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Credit Suisse Group restated a “hold” rating and set a $126.00 price target on shares of J.M. Smucker Company (The) in a research note on Thursday, June 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $130.00 price objective on shares of J.M. Smucker Company (The) in a research report on Wednesday, April 26th. Finally, Citigroup Inc. cut their price objective on J.M. Smucker Company (The) from $161.00 to $155.00 and set a “buy” rating for the company in a research report on Tuesday, May 9th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $132.82.
In other news, SVP Jill R. Penrose sold 550 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $120.09, for a total value of $66,049.50. Following the completion of the transaction, the senior vice president now owns 13,475 shares in the company, valued at approximately $1,618,212.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sandra Pianalto acquired 250 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was bought at an average price of $120.61 per share, with a total value of $30,152.50. Following the acquisition, the director now directly owns 250 shares in the company, valued at $30,152.50. The disclosure for this purchase can be found here. Insiders sold a total of 16,030 shares of company stock valued at $1,948,195 in the last 90 days. 3.50% of the stock is owned by corporate insiders.
J.M. Smucker Company (The) Company Profile
The J. M. Smucker Company is a manufacturer and marketer of branded food and beverage products and pet food and pet snacks in North America. The Company’s segments include U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Foodservice. The Company’s U.S. retail market segments consist of the sale of branded food products to consumers through retail outlets in North America.
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