Advisors Asset Management Inc. Has $1.66 Million Position in The J. M. Smucker Company (NYSE:SJM)

Advisors Asset Management Inc. lessened its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 25.1% in the first quarter, Holdings Channel.com reports. The fund owned 13,210 shares of the company’s stock after selling 4,417 shares during the quarter. Advisors Asset Management Inc.’s holdings in J. M. Smucker were worth $1,663,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wolverine Asset Management LLC grew its stake in shares of J. M. Smucker by 300.0% during the fourth quarter. Wolverine Asset Management LLC now owns 200 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares during the period. Advantage Trust Co bought a new position in J. M. Smucker during the fourth quarter worth about $25,000. Cooksen Wealth LLC acquired a new position in shares of J. M. Smucker during the 4th quarter worth about $33,000. Valley National Advisers Inc. increased its stake in shares of J. M. Smucker by 2,266.7% in the 4th quarter. Valley National Advisers Inc. now owns 284 shares of the company’s stock valued at $35,000 after acquiring an additional 272 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in shares of J. M. Smucker in the 1st quarter valued at approximately $35,000. Institutional investors own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SJM shares. TD Cowen decreased their price target on shares of J. M. Smucker from $140.00 to $135.00 and set a “buy” rating for the company in a report on Friday, June 7th. DA Davidson decreased their target price on J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating for the company in a research note on Monday, June 10th. Argus dropped their price target on J. M. Smucker from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, June 13th. Citigroup lifted their price objective on J. M. Smucker from $137.00 to $139.00 and gave the company a “buy” rating in a report on Friday, June 7th. Finally, StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $132.64.

J. M. Smucker Trading Up 1.8 %

NYSE:SJM opened at $118.19 on Friday. The company has a market cap of $12.55 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 2.36 and a beta of 0.25. The J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $153.00. The business has a 50 day moving average price of $112.10 and a two-hundred day moving average price of $118.57. The company has a quick ratio of 0.25, a current ratio of 0.52 and a debt-to-equity ratio of 0.88.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Thursday, June 6th. The company reported $2.66 EPS for the quarter, topping 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 business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the company posted $2.64 earnings per share. The firm’s revenue was down 1.3% on a year-over-year basis. As a group, analysts expect that The J. M. Smucker Company will post 10.06 EPS 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. Investors of record on Friday, August 16th will be given a $1.08 dividend. The ex-dividend date is Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.66%. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s payout ratio is currently 59.55%.

Insider Buying and Selling

In other J. M. Smucker news, CEO Mark T. Smucker sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.40% of the stock is currently owned by corporate 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.