Kesler Norman & Wride LLC Sells 729 Shares of The J. M. Smucker Company (NYSE:SJM)

Kesler Norman & Wride LLC lessened its stake in The J. M. Smucker Company (NYSE:SJM) by 16.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,661 shares of the company’s stock after selling 729 shares during the quarter. Kesler Norman & Wride LLC’s holdings in J. M. Smucker were worth $443,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position 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 valued at $1,702,515,000 after purchasing an additional 518,433 shares during the period. AMF Tjanstepension AB acquired a new stake in J. M. Smucker during the 1st quarter worth approximately $23,990,000. Goldman Sachs Group Inc. boosted its position in J. M. Smucker by 23.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 419,134 shares of the company’s stock worth $52,970,000 after buying an additional 78,807 shares during the period. Assenagon Asset Management S.A. raised its holdings in J. M. Smucker by 6,703.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 159,873 shares of the company’s stock worth $17,433,000 after purchasing an additional 157,523 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in J. M. Smucker by 62.0% during the 1st quarter. Cetera Investment Advisers now owns 24,174 shares of the company’s stock worth $3,043,000 after purchasing an additional 9,250 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

NYSE SJM opened at $116.84 on Wednesday. The company has a fifty day simple moving average of $119.13 and a 200 day simple moving average of $115.82. The J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $134.62. 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 company has a market cap of $12.43 billion, a P/E ratio of 16.41, a PEG ratio of 3.11 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, 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 quarter last year, the firm posted $2.21 EPS. J. M. Smucker’s revenue was up 17.7% compared to the same quarter last year. Sell-side analysts predict 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 declared 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 represents a $4.32 annualized dividend and a yield of 3.70%. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s dividend payout ratio (DPR) is presently 60.67%.

Analyst Ratings Changes

Several research firms have issued reports on SJM. Wells Fargo & Company lowered their price target on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Citigroup lowered their price target on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Bank of America lowered their price target 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, August 29th. Argus lowered their price target on shares of J. M. Smucker from $150.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, June 13th. Finally, TD Cowen lowered their price target 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, J. M. Smucker currently has an average 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.