The J. M. Smucker Company (NYSE:SJM) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC cut its position in shares of The J. M. Smucker Company (NYSE:SJM) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 138,050 shares of the company’s stock after selling 1,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.13% of J. M. Smucker worth $15,053,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Tradition Wealth Management LLC lifted its position in J. M. Smucker by 7.3% during the fourth quarter. Tradition Wealth Management LLC now owns 1,217 shares of the company’s stock worth $154,000 after buying an additional 83 shares during the period. Czech National Bank lifted its holdings in shares of J. M. Smucker by 0.5% during the 1st quarter. Czech National Bank now owns 18,676 shares of the company’s stock worth $2,351,000 after acquiring an additional 88 shares during the period. Resonant Capital Advisors LLC boosted its position in shares of J. M. Smucker by 0.7% in the first quarter. Resonant Capital Advisors LLC now owns 14,328 shares of the company’s stock worth $1,803,000 after acquiring an additional 93 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of J. M. Smucker by 0.3% in the second quarter. State of Michigan Retirement System now owns 33,561 shares of the company’s stock worth $3,659,000 after acquiring an additional 100 shares during the last quarter. Finally, PFG Investments LLC grew its holdings in J. M. Smucker by 5.9% in the second quarter. PFG Investments LLC now owns 1,959 shares of the company’s stock valued at $214,000 after purchasing an additional 109 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Stock Up 0.2 %

NYSE SJM opened at $118.97 on Tuesday. The stock has a market cap of $12.63 billion, a PE ratio of 16.71, a P/E/G ratio of 3.20 and a beta of 0.24. The business has a 50 day moving average price of $118.94 and a two-hundred day moving average price of $116.14. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $134.62. 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 announced its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, sell-side analysts predict that The J. M. Smucker Company will post 9.82 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were issued a $1.08 dividend. The ex-dividend date was Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.63%. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s dividend payout ratio is currently 60.67%.

Analyst Ratings Changes

A number of equities analysts have weighed in on SJM shares. DA Davidson reaffirmed a “neutral” rating and set a $121.00 price target on shares of J. M. Smucker in a research note on Thursday, August 29th. StockNews.com lowered J. M. Smucker from a “hold” rating to a “sell” rating in a research report on Saturday, September 14th. Argus lowered their price target on 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. Bank of America cut their price objective on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $127.25.

J. M. Smucker 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.