The J. M. Smucker Company (NYSE:SJM) Shares Sold by Journey Advisory Group LLC

Journey Advisory Group LLC reduced its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 16.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,234 shares of the company’s stock after selling 448 shares during the period. Journey Advisory Group LLC’s holdings in J. M. Smucker were worth $244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Advantage Trust Co purchased a new position in shares of J. M. Smucker during the 4th quarter worth approximately $25,000. Cooksen Wealth LLC purchased a new stake in J. M. Smucker in the 4th quarter valued at approximately $33,000. Rothschild Investment LLC acquired a new stake in J. M. Smucker during the 2nd quarter valued at $42,000. Principal Securities Inc. acquired a new position in shares of J. M. Smucker in the fourth quarter worth $43,000. Finally, Central Valley Advisors LLC acquired a new stake in shares of J. M. Smucker during the second quarter valued at $45,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

J. M. Smucker stock opened at $121.19 on Friday. The J. M. Smucker Company has a 52 week low of $105.69 and a 52 week high of $143.75. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87. The stock has a market cap of $12.90 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 3.19 and a beta of 0.24. The stock has a 50 day moving average of $116.82 and a 200-day moving average of $116.51.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.27. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the business earned $2.21 EPS. On average, analysts expect that The J. M. Smucker Company will post 9.82 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.56%. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Friday, August 16th. J. M. Smucker’s payout ratio is 60.67%.

Insider Activity at J. M. Smucker

In other news, CEO Mark T. Smucker sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $110.16, for a total value of $1,101,600.00. Following the transaction, the chief executive officer now directly owns 78,757 shares in the company, valued at approximately $8,675,871.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Citigroup decreased their price target on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and set a $121.00 price target on shares of J. M. Smucker in a research report on Thursday, August 29th. TD Cowen decreased their price target on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Wells Fargo & Company dropped their price objective on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Finally, Barclays cut their target price on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, J. M. Smucker has a consensus rating of “Hold” and a consensus price target of $127.25.

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.