The J. M. Smucker Company (NYSE:SJM) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,860 shares of the company’s stock after selling 7,244 shares during the period. PNC Financial Services Group Inc.’s holdings in J. M. Smucker were worth $14,666,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Utah Retirement Systems lifted its position in J. M. Smucker by 0.6% during the fourth quarter. Utah Retirement Systems now owns 17,146 shares of the company’s stock valued at $1,888,000 after buying an additional 100 shares in the last quarter. Wallace Capital Management Inc. raised its stake in shares of J. M. Smucker by 4.9% during the fourth quarter. Wallace Capital Management Inc. now owns 2,135 shares of the company’s stock valued at $235,000 after purchasing an additional 100 shares during the period. Forum Financial Management LP raised its stake in shares of J. M. Smucker by 3.9% during the first quarter. Forum Financial Management LP now owns 3,113 shares of the company’s stock valued at $369,000 after purchasing an additional 116 shares during the period. Rowlandmiller & PARTNERS.ADV raised its stake in shares of J. M. Smucker by 2.6% during the first quarter. Rowlandmiller & PARTNERS.ADV now owns 4,653 shares of the company’s stock valued at $551,000 after purchasing an additional 119 shares during the period. Finally, GeoWealth Management LLC raised its stake in shares of J. M. Smucker by 15.0% during the fourth quarter. GeoWealth Management LLC now owns 967 shares of the company’s stock valued at $106,000 after purchasing an additional 126 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other J. M. Smucker news, Director Tarang Amin bought 1,050 shares of the stock in a transaction on Thursday, June 12th. The stock was purchased at an average price of $96.09 per share, for a total transaction of $100,894.50. Following the completion of the purchase, the director directly owned 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.24% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SJM shares. Citigroup dropped their price objective on shares of J. M. Smucker from $128.00 to $118.00 and set a “buy” rating on the stock in a research note on Wednesday, June 11th. Bank of America dropped their price objective on shares of J. M. Smucker from $118.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 11th. UBS Group dropped their price objective on shares of J. M. Smucker from $134.00 to $129.00 and set a “buy” rating on the stock in a research note on Friday, June 6th. Wells Fargo & Company dropped their price objective on shares of J. M. Smucker from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 11th. Finally, Jefferies Financial Group upgraded shares of J. M. Smucker from a “hold” rating to a “buy” rating and dropped their price objective for the company from $118.00 to $115.00 in a research note on Wednesday, June 11th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $117.67.

J. M. Smucker Stock Up 1.7%

SJM stock opened at $110.08 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.35. The J. M. Smucker Company has a 1-year low of $93.30 and a 1-year high of $125.42. The firm has a fifty day moving average price of $104.53 and a two-hundred day moving average price of $108.81. The firm has a market cap of $11.72 billion, a price-to-earnings ratio of -9.52, a PEG ratio of 8.22 and a beta of 0.31.

J. M. Smucker (NYSE:SJM) last released its earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.06. J. M. Smucker had a negative net margin of 14.10% and a positive return on equity of 15.20%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the firm earned $2.66 earnings per share. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. Research analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be paid a dividend of $1.10 per share. The ex-dividend date is Friday, August 15th. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.08. This represents a $4.40 annualized dividend and a yield of 4.0%. J. M. Smucker’s payout ratio is presently -37.37%.

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.