Hourglass Capital LLC Invests $2.82 Million in The J. M. Smucker Company (NYSE:SJM)

Hourglass Capital LLC bought a new stake in The J. M. Smucker Company (NYSE:SJM) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 25,860 shares of the company’s stock, valued at approximately $2,820,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings 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 buying an additional 518,433 shares during the last quarter. Boston Partners acquired a new stake in J. M. Smucker during the first quarter worth about $364,990,000. Dimensional Fund Advisors LP raised its holdings in shares of J. M. Smucker by 13.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,688,930 shares of the company’s stock worth $213,441,000 after purchasing an additional 202,092 shares during the period. Champlain Investment Partners LLC lifted its stake in shares of J. M. Smucker by 29.0% in the 1st quarter. Champlain Investment Partners LLC now owns 1,457,995 shares of the company’s stock valued at $183,518,000 after purchasing an additional 327,680 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of J. M. Smucker during the 4th quarter worth about $157,077,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on SJM shares. Wells Fargo & Company cut their price target on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Bank of America reduced their target price on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Argus cut their price objective 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 reduced their price objective on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, TD Cowen lowered their target price on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, J. M. Smucker presently has a consensus rating of “Hold” and a consensus target price of $127.25.

J. M. Smucker Stock Performance

J. M. Smucker stock opened at $121.96 on Friday. The stock has a market cap of $12.98 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 3.19 and a beta of 0.24. 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 J. M. Smucker Company has a 52 week low of $105.69 and a 52 week high of $142.24. The stock has a 50 day moving average of $116.82 and a 200-day moving average of $116.51.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.27. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the firm earned $2.21 earnings per share. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, analysts expect that The J. M. Smucker Company will post 9.82 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.54%. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date was Friday, August 16th. J. M. Smucker’s dividend payout ratio is 60.67%.

Insider Buying and Selling

In other news, CEO Mark T. Smucker sold 10,000 shares of the company’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 transaction of $1,101,600.00. Following the completion of the transaction, the chief executive officer now directly owns 78,757 shares of the company’s stock, valued at $8,675,871.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.40% of the stock is owned by company insiders.

About J. M. Smucker

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.