Stock Yards Bank & Trust Co. Has $798,000 Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Stock Yards Bank & Trust Co. cut its holdings in The J. M. Smucker Company (NYSE:SJM) by 11.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,743 shares of the company’s stock after selling 887 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in J. M. Smucker were worth $798,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Salem Investment Counselors Inc. grew its position in shares of J. M. Smucker by 19.2% in the 1st quarter. Salem Investment Counselors Inc. now owns 787 shares of the company’s stock valued at $93,000 after purchasing an additional 127 shares during the period. Everhart Financial Group Inc. boosted its position in J. M. Smucker by 36.4% during the 1st quarter. Everhart Financial Group Inc. now owns 3,117 shares of the company’s stock worth $369,000 after acquiring an additional 832 shares during the last quarter. Davis Investment Partners LLC acquired a new position in J. M. Smucker during the 1st quarter worth approximately $237,000. apricus wealth LLC boosted its position in J. M. Smucker by 18.1% during the 1st quarter. apricus wealth LLC now owns 28,282 shares of the company’s stock worth $3,349,000 after acquiring an additional 4,325 shares during the last quarter. Finally, Simon Quick Advisors LLC acquired a new position in J. M. Smucker during the 1st quarter worth approximately $240,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

J. M. Smucker Trading Down 1.7%

NYSE SJM opened at $95.73 on Friday. The company has a market cap of $10.19 billion, a PE ratio of 19.38, a PEG ratio of 3.91 and a beta of 0.35. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89. The J. M. Smucker Company has a 12 month low of $93.93 and a 12 month high of $125.42. The stock has a 50 day moving average of $112.29 and a 200-day moving average of $110.66.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.25 by $0.06. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the firm posted $2.66 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend was Friday, May 16th. J. M. Smucker’s dividend payout ratio (DPR) is presently -37.37%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. 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 research report on Friday, June 6th. Stifel Nicolaus reduced their price target on J. M. Smucker from $120.00 to $106.00 and set a “hold” rating for the company in a research report on Wednesday. Wall Street Zen raised J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Friday, March 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $124.00 price target (up previously from $123.00) on shares of J. M. Smucker in a research report on Friday, June 6th. Finally, Citigroup reduced their price target on J. M. Smucker from $128.00 to $118.00 and set a “buy” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $115.80.

Insider Activity at J. M. Smucker

In related news, insider Jill R. Penrose sold 5,117 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $116.26, for a total value of $594,902.42. Following the sale, the insider now owns 8,794 shares in the company, valued at approximately $1,022,390.44. This represents a 36.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tarang Amin acquired 1,050 shares of the stock in a transaction on Thursday, June 12th. The shares were purchased at an average price of $96.09 per share, for a total transaction of $100,894.50. Following the transaction, the director now directly owns 3,825 shares in the company, valued at approximately $367,544.25. This trade represents a 37.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.40% of the stock is owned by company insiders.

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.