3,400 Shares in The J. M. Smucker Company (NYSE:SJM) Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC purchased a new position in shares of The J. M. Smucker Company (NYSE:SJM) in the first quarter, HoldingsChannel reports. The institutional investor purchased 3,400 shares of the company’s stock, valued at approximately $428,000.

A number of other institutional investors also recently added to or reduced their stakes in SJM. Norges Bank acquired a new stake in J. M. Smucker in the 4th quarter valued at $157,077,000. Point72 Asset Management L.P. grew its holdings in shares of J. M. Smucker by 21,858.1% in the 4th quarter. Point72 Asset Management L.P. now owns 680,700 shares of the company’s stock worth $86,027,000 after purchasing an additional 677,600 shares during the last quarter. Vanguard Group Inc. increased its position in shares of J. M. Smucker by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock worth $1,702,515,000 after purchasing an additional 518,433 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in J. M. Smucker by 12,722.3% during the 4th quarter. International Assets Investment Management LLC now owns 334,022 shares of the company’s stock valued at $42,214,000 after purchasing an additional 331,417 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its position in J. M. Smucker by 29.0% in the first quarter. Champlain Investment Partners LLC now owns 1,457,995 shares of the company’s stock valued at $183,518,000 after buying an additional 327,680 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

J. M. Smucker Trading Up 1.8 %

NYSE SJM traded up $2.13 during trading hours on Friday, hitting $118.19. The company’s stock had a trading volume of 754,998 shares, compared to its average volume of 977,613. The J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $153.00. The firm has a market capitalization of $12.55 billion, a P/E ratio of 16.60, a PEG ratio of 2.32 and a beta of 0.25. The company has a quick ratio of 0.25, a current ratio of 0.52 and a debt-to-equity ratio of 0.88. The stock has a fifty day moving average of $112.10 and a 200 day moving average of $118.66.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Thursday, June 6th. The company reported $2.66 EPS for the quarter, beating the consensus estimate of $2.32 by $0.34. J. M. Smucker had a net margin of 9.10% and a return on equity of 14.15%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the company posted $2.64 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities research analysts forecast that The J. M. Smucker Company will post 10.06 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be issued a dividend of $1.08 per share. The ex-dividend date is Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.66%. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s dividend payout ratio (DPR) is 59.55%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Tuesday. Argus dropped their price target on J. M. Smucker from $150.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, June 13th. Barclays reduced their price objective on J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. TD Cowen lowered their target price on J. M. Smucker from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Finally, Citigroup increased their price objective on shares of J. M. Smucker from $137.00 to $139.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, J. M. Smucker presently has an average rating of “Hold” and an average target price of $132.64.

Insider Activity

In related news, CEO Mark T. Smucker sold 10,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 78,757 shares in the company, valued at approximately $8,675,871.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.40% of the stock is currently owned by company insiders.

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.