SlateStone Wealth LLC Has $477,000 Stake in The J. M. Smucker Company (NYSE:SJM)

SlateStone Wealth LLC boosted its holdings in The J. M. Smucker Company (NYSE:SJM) by 21.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,030 shares of the company’s stock after acquiring an additional 710 shares during the quarter. SlateStone Wealth LLC’s holdings in J. M. Smucker were worth $477,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Merit Financial Group LLC bought a new position in shares of J. M. Smucker in the 1st quarter worth $203,000. Farther Finance Advisors LLC boosted its holdings in J. M. Smucker by 113.5% during the first quarter. Farther Finance Advisors LLC now owns 2,923 shares of the company’s stock worth $346,000 after buying an additional 1,554 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of J. M. Smucker by 124.8% during the 4th 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 during the period. Sterling Capital Management LLC increased its stake in shares of J. M. Smucker by 55.5% in the 4th quarter. Sterling Capital Management LLC now owns 6,117 shares of the company’s stock valued at $674,000 after acquiring an additional 2,182 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of J. M. Smucker by 1.6% in the 1st quarter. State of Alaska Department of Revenue now owns 20,968 shares of the company’s stock valued at $2,482,000 after acquiring an additional 335 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analysts Set New Price Targets

SJM has been the subject of a number of analyst reports. BNP Paribas upgraded shares of J. M. Smucker from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday, July 9th. Morgan Stanley reissued an “overweight” rating and set a $124.00 price target (up from $123.00) on shares of J. M. Smucker in a research report on Friday, June 6th. Royal Bank Of Canada began coverage on shares of J. M. Smucker in a research report on Monday, July 7th. They issued an “outperform” rating and a $130.00 price objective for the company. Stifel Nicolaus raised their price objective on J. M. Smucker from $106.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Citigroup reduced their target price on J. M. Smucker from $128.00 to $118.00 and set a “buy” rating on the stock in a report on Wednesday, June 11th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.67.

J. M. Smucker Price Performance

SJM stock opened at $109.16 on Thursday. The stock has a 50-day moving average price of $104.77 and a two-hundred day moving average price of $108.58. The J. M. Smucker Company has a 1 year low of $93.30 and a 1 year high of $125.42. The stock has a market cap of $11.63 billion, a PE ratio of -9.44, a price-to-earnings-growth ratio of 8.52 and a beta of 0.31. The company has a current ratio of 0.81, a quick ratio of 0.35 and a debt-to-equity ratio of 1.16.

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 analysts’ consensus estimates of $2.25 by $0.06. J. M. Smucker had a positive return on equity of 15.20% and a negative net margin of 14.10%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period last year, the company earned $2.66 earnings per share. J. M. Smucker’s quarterly revenue was down 2.8% on a year-over-year basis. Equities analysts forecast that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.08. J. M. Smucker’s payout ratio is currently -37.37%.

Insider Buying and Selling

In other J. M. Smucker news, Director Tarang Amin purchased 1,050 shares of the stock in a transaction on Thursday, June 12th. The shares were purchased at an average cost of $96.09 per share, for a total transaction of $100,894.50. Following the purchase, the director owned 3,825 shares of the company’s stock, valued at approximately $367,544.25. This represents a 37.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.24% of the company’s stock.

J. M. Smucker Profile

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.