BTIM Corp. Invests $255,000 in J.M. Smucker Company (The) (SJM)

BTIM Corp. acquired a new position in shares of J.M. Smucker Company (The) (NYSE:SJM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,156 shares of the company’s stock, valued at approximately $255,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Diversified Trust Co raised its position in shares of J.M. Smucker Company (The) by 62.9% in the second quarter. Diversified Trust Co now owns 2,993 shares of the company’s stock worth $354,000 after buying an additional 1,156 shares in the last quarter. Culbertson A N & Co. Inc. increased its stake in shares of J.M. Smucker Company (The) by 4.2% in the second quarter. Culbertson A N & Co. Inc. now owns 14,284 shares of the company’s stock valued at $1,690,000 after buying an additional 580 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of J.M. Smucker Company (The) by 13.1% in the second quarter. Nisa Investment Advisors LLC now owns 19,796 shares of the company’s stock valued at $2,342,000 after buying an additional 2,300 shares during the last quarter. Bartlett & Co. LLC increased its stake in shares of J.M. Smucker Company (The) by 947.5% in the second quarter. Bartlett & Co. LLC now owns 91,318 shares of the company’s stock valued at $10,806,000 after buying an additional 82,600 shares during the last quarter. Finally, LS Investment Advisors LLC increased its stake in shares of J.M. Smucker Company (The) by 6.9% in the second quarter. LS Investment Advisors LLC now owns 6,437 shares of the company’s stock valued at $762,000 after buying an additional 414 shares during the last quarter. 75.09% of the stock is currently owned by institutional investors and hedge funds.

Shares of J.M. Smucker Company (SJM) traded down 0.62% during midday trading on Friday, hitting $121.90. The company had a trading volume of 725,363 shares. J.M. Smucker Company has a one year low of $114.31 and a one year high of $156.23. The stock has a market capitalization of $13.83 billion, a price-to-earnings ratio of 23.90 and a beta of 0.62. The stock’s 50-day moving average price is $119.57 and its 200-day moving average price is $128.21.

J.M. Smucker Company (The) (NYSE:SJM) last issued its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the business posted $1.19 EPS. The business’s revenue was down 1.3% compared to the same quarter last year. Analysts predict that J.M. Smucker Company will post $7.97 EPS for the current 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 given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Wednesday, August 9th. This is a boost from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. J.M. Smucker Company (The)’s dividend payout ratio is 61.18%.

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Several analysts recently weighed in on the company. BidaskClub upgraded J.M. Smucker Company (The) from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. Deutsche Bank AG restated a “hold” rating and set a $131.00 target price (down previously from $135.00) on shares of J.M. Smucker Company (The) in a research note on Thursday, July 13th. Jefferies Group LLC upgraded J.M. Smucker Company (The) from a “hold” rating to a “buy” rating and increased their target price for the company from $130.00 to $140.00 in a research note on Friday, July 28th. Susquehanna Bancshares Inc set a $141.00 price objective on J.M. Smucker Company (The) and gave the stock a “hold” rating in a research report on Wednesday, June 7th. Finally, Hilliard Lyons upgraded J.M. Smucker Company (The) from a “neutral” rating to a “long-term buy” rating and set a $140.00 price objective for the company in a research report on Tuesday, July 11th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. J.M. Smucker Company (The) has a consensus rating of “Hold” and an average price target of $132.82.

In related news, SVP Jill R. Penrose sold 550 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $120.09, for a total value of $66,049.50. Following the transaction, the senior vice president now owns 13,475 shares of the company’s stock, valued at approximately $1,618,212.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven Oakland sold 6,047 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $122.00, for a total transaction of $737,734.00. Following the completion of the transaction, the insider now directly owns 47,667 shares in the company, valued at approximately $5,815,374. The disclosure for this sale can be found here. Insiders have sold a total of 16,030 shares of company stock worth $1,948,195 in the last three months. 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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