Maridea Wealth Management LLC Invests $295,000 in The J. M. Smucker Company (NYSE:SJM)

Maridea Wealth Management LLC purchased a new stake in The J. M. Smucker Company (NYSE:SJM) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,676 shares of the company’s stock, valued at approximately $295,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company raised its position in shares of J. M. Smucker by 21.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 84,462 shares of the company’s stock valued at $10,228,000 after buying an additional 15,092 shares in the last quarter. FMR LLC increased its stake in J. M. Smucker by 40.0% in the third quarter. FMR LLC now owns 3,353,996 shares of the company’s stock valued at $406,169,000 after acquiring an additional 958,142 shares during the last quarter. Townsquare Capital LLC raised its position in J. M. Smucker by 14.5% during the third quarter. Townsquare Capital LLC now owns 2,358 shares of the company’s stock valued at $286,000 after purchasing an additional 298 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in J. M. Smucker by 12.0% during the third quarter. CreativeOne Wealth LLC now owns 7,120 shares of the company’s stock worth $862,000 after purchasing an additional 764 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of J. M. Smucker by 14.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 4,618 shares of the company’s stock valued at $559,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

SJM has been the subject of a number of research analyst reports. Barclays lowered their price target on J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. DA Davidson lowered their target price on J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Stifel Nicolaus reduced their price target on shares of J. M. Smucker from $125.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. TD Cowen cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $130.00 to $121.00 in a research report on Wednesday, January 8th. Finally, StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $125.67.

J. M. Smucker Trading Down 0.5 %

Shares of NYSE SJM opened at $116.13 on Friday. The firm has a 50 day moving average price of $108.21 and a two-hundred day moving average price of $112.20. The stock has a market cap of $12.36 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 3.91 and a beta of 0.28. The J. M. Smucker Company has a 52-week low of $98.77 and a 52-week high of $125.75. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Thursday, February 27th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.24. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.23 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. As a group, equities analysts forecast that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.72%. The ex-dividend date was Friday, February 14th. J. M. Smucker’s payout ratio is presently -179.25%.

Insider Buying and Selling at J. M. Smucker

In other news, CFO Tucker H. Marshall sold 5,028 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $113.36, for a total value of $569,974.08. Following the sale, the chief financial officer now directly owns 13,263 shares of the company’s stock, valued at approximately $1,503,493.68. This represents a 27.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.40% of the company’s stock.

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.