Concurrent Investment Advisors LLC Increases Position in The J. M. Smucker Company (NYSE:SJM)

Concurrent Investment Advisors LLC boosted its holdings in The J. M. Smucker Company (NYSE:SJM) by 17.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,387 shares of the company’s stock after purchasing an additional 1,677 shares during the period. Concurrent Investment Advisors LLC’s holdings in J. M. Smucker were worth $1,242,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SJM. Advantage Trust Co purchased a new position in shares of J. M. Smucker during the 4th quarter valued at approximately $25,000. Cooksen Wealth LLC bought a new stake in shares of J. M. Smucker in the 4th quarter worth about $33,000. Venturi Wealth Management LLC acquired a new stake in shares of J. M. Smucker in the 1st quarter valued at about $35,000. Rothschild Investment LLC bought a new position in shares of J. M. Smucker during the second quarter worth about $42,000. Finally, Principal Securities Inc. bought a new position in shares of J. M. Smucker during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SJM. TD Cowen cut their price objective on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday. DA Davidson reissued a “neutral” rating and set a $121.00 price target on shares of J. M. Smucker in a research report on Thursday. Bank of America decreased their price objective on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Thursday. Argus dropped their target price on shares of J. M. Smucker from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, June 13th. Finally, StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Thursday. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $127.25.

Insiders Place Their Bets

In other news, CEO Mark T. Smucker sold 10,000 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the transaction, the chief executive officer now directly owns 78,757 shares of the company’s stock, valued at $8,675,871.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.40% of the stock is currently owned by insiders.

J. M. Smucker Stock Up 0.8 %

SJM stock opened at $114.68 on Monday. The stock has a market cap of $12.20 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 3.03 and a beta of 0.24. The firm’s 50-day simple moving average is $116.04 and its 200 day simple moving average is $116.55. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $146.29. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.17 by $0.27. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. J. M. Smucker’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.21 EPS. As a group, sell-side analysts predict that The J. M. Smucker Company will post 9.84 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 3rd. Shareholders of record on Friday, August 16th will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $4.32 annualized dividend and a yield of 3.77%. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s payout ratio is presently 60.67%.

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.