Wealthspire Advisors LLC Sells 987 Shares of The J. M. Smucker Company (NYSE:SJM)

Wealthspire Advisors LLC lowered its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 14.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,671 shares of the company’s stock after selling 987 shares during the period. Wealthspire Advisors LLC’s holdings in J. M. Smucker were worth $618,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of J. M. Smucker by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock worth $1,702,515,000 after buying an additional 518,433 shares during the period. Boston Partners bought a new stake in J. M. Smucker in the 1st quarter worth $364,990,000. Champlain Investment Partners LLC raised its stake in shares of J. M. Smucker by 29.0% during the first quarter. Champlain Investment Partners LLC now owns 1,457,995 shares of the company’s stock valued at $183,518,000 after acquiring an additional 327,680 shares during the last quarter. Norges Bank purchased a new stake in shares of J. M. Smucker during the fourth quarter worth about $157,077,000. Finally, Ariel Investments LLC grew its stake in shares of J. M. Smucker by 58.7% in the first quarter. Ariel Investments LLC now owns 868,375 shares of the company’s stock worth $109,302,000 after purchasing an additional 321,049 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Up 0.1 %

Shares of NYSE:SJM opened at $120.89 on Tuesday. 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 fifty day simple moving average of $118.19 and a two-hundred day simple moving average of $116.18. The J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $134.62. The stock has a market capitalization of $12.86 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 3.13 and a beta of 0.24.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (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 analyst estimates of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. J. M. Smucker’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 EPS. On average, research analysts anticipate that The J. M. Smucker Company will post 9.82 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were given a $1.08 dividend. The ex-dividend date was Friday, August 16th. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 annualized dividend and a yield of 3.57%. J. M. Smucker’s dividend payout ratio is 60.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. Bank of America reduced their price objective on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Argus dropped their target price on shares of J. M. Smucker from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, June 13th. Barclays reduced their price target on shares of 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. Finally, TD Cowen lowered their price objective on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, J. M. Smucker presently has an average 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 company’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 SEC, which is available at the SEC website. Corporate insiders own 3.40% of the company’s stock.

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.