J.M. Smucker Company (The) (NYSE:SJM) Position Raised by Hemenway Trust Co LLC

Hemenway Trust Co LLC raised its stake in shares of J.M. Smucker Company (The) (NYSE:SJM) by 12.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,390 shares of the company’s stock after buying an additional 7,303 shares during the period. J.M. Smucker Company (The) accounts for about 1.7% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 26th largest position. Hemenway Trust Co LLC owned 0.06% of J.M. Smucker Company (The) worth $7,738,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Raymond James Trust N.A. increased its stake in shares of J.M. Smucker Company (The) by 7.7% in the first quarter. Raymond James Trust N.A. now owns 8,962 shares of the company’s stock valued at $1,175,000 after buying an additional 638 shares during the period. Cardinal Capital Management Inc. increased its stake in shares of J.M. Smucker Company (The) by 11.5% in the first quarter. Cardinal Capital Management Inc. now owns 99,665 shares of the company’s stock valued at $13,064,000 after buying an additional 10,260 shares during the period. West Oak Capital LLC increased its stake in shares of J.M. Smucker Company (The) by 17.4% in the first quarter. West Oak Capital LLC now owns 8,105 shares of the company’s stock valued at $1,062,000 after buying an additional 1,200 shares during the period. Manning & Napier Advisors LLC increased its stake in shares of J.M. Smucker Company (The) by 8.5% in the first quarter. Manning & Napier Advisors LLC now owns 20,776 shares of the company’s stock valued at $2,722,000 after buying an additional 1,620 shares during the period. Finally, Rathbone Brothers plc increased its stake in shares of J.M. Smucker Company (The) by 5.8% in the first quarter. Rathbone Brothers plc now owns 6,568 shares of the company’s stock valued at $861,000 after buying an additional 362 shares during the period. Hedge funds and other institutional investors own 75.09% of the company’s stock.

Shares of J.M. Smucker Company (NYSE:SJM) traded down 0.62% during midday trading on Friday, hitting $121.90. 725,363 shares of the stock were exchanged. The firm’s 50-day moving average is $119.57 and its 200-day moving average is $128.21. The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 23.90 and a beta of 0.62. J.M. Smucker Company has a 12 month low of $114.31 and a 12 month high of $156.23.

J.M. Smucker Company (The) (NYSE:SJM) last released its quarterly earnings data on Thursday, June 8th. The company reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.08. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.77 billion. J.M. Smucker Company (The) had a net margin of 8.01% and a return on equity of 12.63%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 earnings per share. Equities research analysts predict that J.M. Smucker Company will post $7.97 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.56%. This is a positive change from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. J.M. Smucker Company (The)’s dividend payout ratio is presently 61.18%.

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Several brokerages recently weighed in on SJM. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $128.00 price target (down previously from $132.00) on shares of J.M. Smucker Company (The) in a research report on Wednesday, May 31st. Jefferies Group LLC reissued a “hold” rating and set a $130.00 price target on shares of J.M. Smucker Company (The) in a research report on Wednesday, April 26th. Zacks Investment Research downgraded shares of J.M. Smucker Company (The) from a “hold” rating to a “sell” rating in a research report on Monday, May 8th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $131.00 target price (down previously from $135.00) on shares of J.M. Smucker Company (The) in a research report on Thursday, July 13th. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $126.00 target price on shares of J.M. Smucker Company (The) in a research report on Thursday, June 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $132.82.

In related news, insider Barry C. Dunaway sold 9,433 shares of the firm’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $121.32, for a total transaction of $1,144,411.56. Following the sale, the insider now owns 40,966 shares in the company, valued at $4,969,995.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Steven Oakland sold 6,047 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $122.00, for a total transaction of $737,734.00. Following the sale, the insider now owns 47,667 shares in the company, valued at approximately $5,815,374. The disclosure for this sale can be found here. Insiders sold 16,030 shares of company stock worth $1,948,195 in the last quarter. Company insiders own 3.50% of the company’s stock.

About J.M. Smucker Company (The)

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.

Institutional Ownership by Quarter for J.M. Smucker Company (The) (NYSE:SJM)

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