Perigon Wealth Management LLC Has $247,000 Stake in J M Smucker Co (NYSE:SJM)

Perigon Wealth Management LLC grew its stake in J M Smucker Co (NYSE:SJM) by 6.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,335 shares of the company’s stock after buying an additional 141 shares during the period. Perigon Wealth Management LLC’s holdings in J M Smucker were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Tarbox Family Office Inc. grew its position in J M Smucker by 2.2% in the 1st quarter. Tarbox Family Office Inc. now owns 4,480 shares of the company’s stock worth $497,000 after purchasing an additional 97 shares during the last quarter. Physicians Financial Services Inc. boosted its position in shares of J M Smucker by 3.8% during the 1st quarter. Physicians Financial Services Inc. now owns 2,765 shares of the company’s stock valued at $307,000 after acquiring an additional 100 shares in the last quarter. Shell Asset Management Co. boosted its position in shares of J M Smucker by 1.5% during the 1st quarter. Shell Asset Management Co. now owns 6,823 shares of the company’s stock valued at $757,000 after acquiring an additional 100 shares in the last quarter. Coastline Trust Co boosted its position in shares of J M Smucker by 5.1% during the 1st quarter. Coastline Trust Co now owns 2,055 shares of the company’s stock valued at $228,000 after acquiring an additional 100 shares in the last quarter. Finally, Clear Harbor Asset Management LLC boosted its position in shares of J M Smucker by 2.2% during the 1st quarter. Clear Harbor Asset Management LLC now owns 4,841 shares of the company’s stock valued at $537,000 after acquiring an additional 105 shares in the last quarter. Institutional investors own 77.89% of the company’s stock.

SJM has been the topic of several recent research reports. Morgan Stanley decreased their target price on shares of J M Smucker from $117.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday, July 13th. ValuEngine lowered shares of J M Smucker from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. Credit Suisse Group upgraded shares of J M Smucker from an “underperform” rating to a “neutral” rating and set a $115.00 target price on the stock in a research report on Thursday, April 16th. Sanford C. Bernstein downgraded shares of J M Smucker from a “market perform” rating to an “underperform” rating and cut their price target for the company from $105.00 to $93.00 in a report on Thursday, June 11th. Finally, Guggenheim cut their price target on shares of J M Smucker from $98.00 to $96.00 and set a “sell” rating for the company in a report on Thursday, May 28th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. J M Smucker has an average rating of “Hold” and a consensus target price of $113.00.

In related news, insider Mark R. Belgya sold 750 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $110.00, for a total transaction of $82,500.00. Following the completion of the transaction, the insider now owns 35,047 shares in the company, valued at $3,855,170. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark T. Smucker sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $110.00, for a total transaction of $165,000.00. Following the completion of the transaction, the chief executive officer now owns 133,779 shares of the company’s stock, valued at approximately $14,715,690. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,807 shares of company stock valued at $1,178,933. Corporate insiders own 3.60% of the company’s stock.

Shares of NYSE:SJM opened at $109.35 on Friday. J M Smucker Co has a one year low of $91.88 and a one year high of $125.62. The company has a 50 day moving average of $106.47 and a 200-day moving average of $109.34. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.24 and a quick ratio of 0.68. The stock has a market cap of $12.48 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 6.17 and a beta of 0.13.

J M Smucker (NYSE:SJM) last issued its quarterly earnings data on Thursday, June 4th. The company reported $2.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.29. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.05 billion. J M Smucker had a net margin of 9.99% and a return on equity of 12.31%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.08 earnings per share. Equities research analysts anticipate that J M Smucker Co will post 8.21 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $3.60 dividend on an annualized basis and a yield of 3.29%. This is a boost from J M Smucker’s previous quarterly dividend of $0.88. J M Smucker’s payout ratio is currently 40.18%.

J M Smucker Company Profile

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.

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Institutional Ownership by Quarter for J M Smucker (NYSE:SJM)

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