Cetera Advisor Networks LLC trimmed its position in shares of J M Smucker Co (NYSE:SJM) by 20.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,761 shares of the company’s stock after selling 1,454 shares during the period. Cetera Advisor Networks LLC’s holdings in J M Smucker were worth $640,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Archer Investment Corp boosted its stake in J M Smucker by 55.8% during the 1st quarter. Archer Investment Corp now owns 3,909 shares of the company’s stock valued at $434,000 after purchasing an additional 1,400 shares during the period. Bartlett & Co. LLC acquired a new position in J M Smucker during the 1st quarter valued at about $6,616,000. Ieq Capital LLC acquired a new position in J M Smucker during the 1st quarter valued at about $205,000. Goelzer Investment Management Inc. boosted its stake in J M Smucker by 4.7% during the 1st quarter. Goelzer Investment Management Inc. now owns 52,845 shares of the company’s stock valued at $5,866,000 after purchasing an additional 2,376 shares during the period. Finally, WASHINGTON TRUST Co acquired a new position in J M Smucker during the 1st quarter valued at about $56,000. 78.67% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Mark R. Belgya sold 750 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $117.12, for a total transaction of $87,840.00. Following the sale, the chief financial officer now owns 48,192 shares in the company, valued at $5,644,247.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.70% of the stock is owned by insiders.
J M Smucker (NYSE:SJM) last released its earnings results on Wednesday, February 26th. The company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. J M Smucker had a net margin of 8.21% and a return on equity of 11.70%. The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the firm earned $2.26 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, analysts anticipate that J M Smucker Co will post 8.46 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.26%. J M Smucker’s dividend payout ratio is currently 42.46%.
A number of brokerages have recently weighed in on SJM. Jefferies Financial Group reaffirmed a “hold” rating and issued a $109.00 price target on shares of J M Smucker in a research note on Wednesday, February 26th. Sanford C. Bernstein raised shares of J M Smucker from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $92.00 to $115.00 in a research note on Wednesday, March 18th. Barclays reaffirmed a “hold” rating and issued a $112.00 price target on shares of J M Smucker in a research note on Thursday, February 27th. ValuEngine raised shares of J M Smucker from a “sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Finally, Morgan Stanley upped their price target on shares of J M Smucker from $109.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $114.69.
About J M Smucker
The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.
Further Reading: New Google Finance Tool and Screening Stocks
Want to see what other hedge funds are holding SJM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for J M Smucker Co (NYSE:SJM).
Receive News & Ratings for J M Smucker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J M Smucker and related companies with MarketBeat.com's FREE daily email newsletter.