Palumbo Wealth Management LLC Sells 2,675 Shares of The J. M. Smucker Company (NYSE:SJM)

Palumbo Wealth Management LLC trimmed its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 19.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,420 shares of the company’s stock after selling 2,675 shares during the quarter. Palumbo Wealth Management LLC’s holdings in J. M. Smucker were worth $1,258,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SJM. State Street Corp grew its stake in J. M. Smucker by 12.0% in the 3rd quarter. State Street Corp now owns 7,111,023 shares of the company’s stock valued at $861,145,000 after buying an additional 762,746 shares during the last quarter. FMR LLC grew its position in shares of J. M. Smucker by 40.0% in the third quarter. FMR LLC now owns 3,353,996 shares of the company’s stock valued at $406,169,000 after purchasing an additional 958,142 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of J. M. Smucker by 16.5% during the fourth quarter. Nordea Investment Management AB now owns 1,361,902 shares of the company’s stock worth $150,082,000 after purchasing an additional 192,748 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in J. M. Smucker by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 990,632 shares of the company’s stock worth $119,966,000 after purchasing an additional 13,276 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in J. M. Smucker by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 703,971 shares of the company’s stock valued at $85,251,000 after purchasing an additional 31,745 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

J. M. Smucker Stock Down 2.9 %

NYSE SJM opened at $102.07 on Friday. The business has a fifty day moving average price of $107.27 and a two-hundred day moving average price of $113.97. The stock has a market capitalization of $10.86 billion, a PE ratio of 20.66, a PEG ratio of 3.15 and a beta of 0.27. The J. M. Smucker Company has a fifty-two week low of $99.81 and a fifty-two week high of $127.59. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.25. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.27 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. During the same period in the prior year, the company earned $2.59 EPS. J. M. Smucker’s revenue for the quarter was up 17.2% on a year-over-year basis. Equities analysts expect that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Friday, February 14th. J. M. Smucker’s dividend payout ratio is 87.45%.

Insider Transactions at J. M. Smucker

In related news, CFO Tucker H. Marshall sold 994 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $113.00, for a total value of $112,322.00. Following the completion of the transaction, the chief financial officer now owns 18,734 shares in the company, valued at $2,116,942. This trade represents a 5.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SJM shares. TD Cowen downgraded J. M. Smucker from a “buy” rating to a “hold” rating and dropped their target price for the stock from $130.00 to $121.00 in a report on Wednesday, January 8th. Barclays cut their price objective on shares of J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a report on Wednesday, December 4th. Stifel Nicolaus lowered their target price on shares of J. M. Smucker from $125.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Finally, Wells Fargo & Company boosted their price target on J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $126.78.

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.