Code Waechter LLC Lowers Holdings in The J. M. Smucker Company (NYSE:SJM)

Code Waechter LLC lowered its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 53.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,347 shares of the company’s stock after selling 2,676 shares during the period. Code Waechter LLC’s holdings in J. M. Smucker were worth $278,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Merit Financial Group LLC acquired a new position in J. M. Smucker in the first quarter valued at approximately $203,000. Farther Finance Advisors LLC increased its holdings in shares of J. M. Smucker by 113.5% during the 1st quarter. Farther Finance Advisors LLC now owns 2,923 shares of the company’s stock valued at $346,000 after purchasing an additional 1,554 shares in the last quarter. Sandy Spring Bank lifted its stake in shares of J. M. Smucker by 1,365.5% in the 4th quarter. Sandy Spring Bank now owns 425 shares of the company’s stock valued at $47,000 after purchasing an additional 396 shares during the period. Schonfeld Strategic Advisors LLC boosted its holdings in J. M. Smucker by 124.8% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 13,355 shares of the company’s stock worth $1,471,000 after buying an additional 7,414 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in J. M. Smucker by 55.5% during the fourth quarter. Sterling Capital Management LLC now owns 6,117 shares of the company’s stock valued at $674,000 after buying an additional 2,182 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Trading Down 0.8%

SJM opened at $102.69 on Thursday. The firm has a market capitalization of $10.94 billion, a price-to-earnings ratio of -8.88, a price-to-earnings-growth ratio of 7.80 and a beta of 0.31. The company’s 50 day simple moving average is $106.40 and its two-hundred day simple moving average is $108.75. The J. M. Smucker Company has a 1-year low of $93.30 and a 1-year high of $125.42. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.35.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Tuesday, June 10th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.06. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.18 billion. J. M. Smucker had a positive return on equity of 15.20% and a negative net margin of 14.10%. The business’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.66 earnings per share. Analysts expect that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was Friday, May 16th. J. M. Smucker’s payout ratio is currently -37.37%.

Insider Buying and Selling at J. M. Smucker

In related news, Director Tarang Amin bought 1,050 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The shares were acquired at an average cost of $96.09 per share, for a total transaction of $100,894.50. Following the acquisition, the director owned 3,825 shares in the company, valued at $367,544.25. This represents a 37.84% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of J. M. Smucker from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, June 11th. UBS Group reduced their price target on J. M. Smucker from $134.00 to $129.00 and set a “buy” rating for the company in a report on Friday, June 6th. Bank of America dropped their price objective on J. M. Smucker from $118.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, June 11th. Citigroup decreased their target price on J. M. Smucker from $128.00 to $118.00 and set a “buy” rating on the stock in a research report on Wednesday, June 11th. Finally, BNP Paribas Exane upgraded shares of J. M. Smucker from an “underperform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, J. M. Smucker currently has a consensus rating of “Hold” and a consensus price target of $117.33.

About J. M. Smucker

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.