NewEdge Advisors LLC Sells 30,936 Shares of The J. M. Smucker Company (NYSE:SJM)

NewEdge Advisors LLC reduced its stake in The J. M. Smucker Company (NYSE:SJM) by 83.1% during the 4th quarter, Holdings Channel reports. The fund owned 6,284 shares of the company’s stock after selling 30,936 shares during the period. NewEdge Advisors LLC’s holdings in J. M. Smucker were worth $692,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in J. M. Smucker during the 3rd quarter worth approximately $682,000. Tidal Investments LLC boosted its position in shares of J. M. Smucker by 1.3% in the third quarter. Tidal Investments LLC now owns 15,038 shares of the company’s stock valued at $1,821,000 after acquiring an additional 190 shares during the period. Principal Financial Group Inc. grew its stake in shares of J. M. Smucker by 4.5% in the third quarter. Principal Financial Group Inc. now owns 135,465 shares of the company’s stock valued at $16,405,000 after acquiring an additional 5,790 shares in the last quarter. JPMorgan Chase & Co. increased its position in J. M. Smucker by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 703,971 shares of the company’s stock worth $85,251,000 after acquiring an additional 31,745 shares during the period. Finally, Versant Capital Management Inc raised its stake in J. M. Smucker by 106.3% in the 4th quarter. Versant Capital Management Inc now owns 526 shares of the company’s stock worth $58,000 after purchasing an additional 271 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Morgan Stanley began coverage on shares of J. M. Smucker in a report on Monday, March 24th. They set an “overweight” rating and a $123.00 target price on the stock. UBS Group assumed coverage on J. M. Smucker in a research note on Wednesday. They set a “buy” rating and a $134.00 price objective on the stock. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Friday, March 28th. TD Cowen cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and cut their price objective for the stock from $130.00 to $121.00 in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus decreased their target price on shares of J. M. Smucker from $125.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $126.50.

Insiders Place Their Bets

In other news, CFO Tucker H. Marshall sold 5,028 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $113.36, for a total value of $569,974.08. Following the completion of the transaction, the chief financial officer now owns 13,263 shares of the company’s stock, valued at $1,503,493.68. This represents a 27.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jill R. Penrose sold 5,117 shares of J. M. Smucker stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $116.26, for a total transaction of $594,902.42. Following the sale, the insider now owns 8,794 shares in the company, valued at approximately $1,022,390.44. This represents a 36.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

J. M. Smucker Stock Down 0.5 %

Shares of NYSE SJM opened at $115.16 on Friday. The company has a market cap of $12.25 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 3.91 and a beta of 0.35. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89. The J. M. Smucker Company has a 12 month low of $98.77 and a 12 month high of $125.42. The stock has a 50-day moving average price of $113.35 and a two-hundred day moving average price of $111.76.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Thursday, February 27th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.24. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.23 billion. As a group, analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be given a dividend of $1.08 per share. The ex-dividend date is Friday, May 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.75%. J. M. Smucker’s dividend payout ratio is currently -179.25%.

J. M. Smucker Company 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.