The J. M. Smucker Company (NYSE:SJM) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its position in shares of The J. M. Smucker Company (NYSE:SJM) by 20.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,557 shares of the company’s stock after selling 4,389 shares during the quarter. Texas Permanent School Fund Corp’s holdings in J. M. Smucker were worth $1,914,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SJM. Principal Securities Inc. acquired a new stake in J. M. Smucker in the fourth quarter valued at $43,000. Principal Financial Group Inc. lifted its holdings in shares of J. M. Smucker by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 140,347 shares of the company’s stock valued at $17,737,000 after purchasing an additional 4,172 shares in the last quarter. Avantax Advisory Services Inc. grew its position in shares of J. M. Smucker by 16.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,535 shares of the company’s stock valued at $700,000 after purchasing an additional 783 shares during the last quarter. Independent Advisor Alliance increased its stake in shares of J. M. Smucker by 12.4% during the 4th quarter. Independent Advisor Alliance now owns 4,764 shares of the company’s stock worth $602,000 after purchasing an additional 527 shares in the last quarter. Finally, ING Groep NV acquired a new stake in J. M. Smucker during the 4th quarter valued at $1,836,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Trading Down 1.0 %

NYSE SJM opened at $119.71 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55. The J. M. Smucker Company has a one year low of $105.69 and a one year high of $134.62. The company’s 50 day moving average price is $118.19 and its 200 day moving average price is $116.18. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 3.13 and a beta of 0.24.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the company earned $2.21 EPS. The firm’s revenue was up 17.7% on a year-over-year basis. On average, sell-side analysts predict that The J. M. Smucker Company will post 9.82 EPS for the current year.

J. M. Smucker Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Friday, August 16th. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s dividend payout ratio is currently 60.67%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Citigroup cut their price target on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Argus reduced 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. Barclays lowered their price target on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. 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 note on Thursday, August 29th. Finally, StockNews.com downgraded J. M. Smucker from a “hold” rating to a “sell” rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, J. M. Smucker has an average rating of “Hold” and an average target price of $127.25.

Insider Buying and Selling at J. M. Smucker

In other news, CEO Mark T. Smucker sold 10,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 78,757 shares in the company, valued at $8,675,871.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.40% of the stock is owned by corporate insiders.

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.