The J. M. Smucker Company (NYSE:SJM) Shares Bought by Vest Financial LLC

Vest Financial LLC grew its position in The J. M. Smucker Company (NYSE:SJM) by 29.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 375,352 shares of the company’s stock after acquiring an additional 85,850 shares during the period. Vest Financial LLC owned about 0.35% of J. M. Smucker worth $40,928,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Boston Partners acquired a new position in J. M. Smucker in the 1st quarter worth about $364,990,000. Norges Bank acquired a new position in shares of J. M. Smucker during the 4th quarter worth approximately $157,077,000. Point72 Asset Management L.P. raised its stake in shares of J. M. Smucker by 21,858.1% during the 4th quarter. Point72 Asset Management L.P. now owns 680,700 shares of the company’s stock worth $86,027,000 after buying an additional 677,600 shares during the period. Vanguard Group Inc. lifted 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 valued at $1,702,515,000 after buying an additional 518,433 shares in the last quarter. Finally, Ilex Capital Partners UK LLP acquired a new stake in J. M. Smucker in the 1st quarter valued at $48,207,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Stock Performance

Shares of J. M. Smucker stock opened at $117.49 on Thursday. The business’s 50 day moving average price is $117.57 and its 200 day moving average price is $116.28. The company has a market cap of $12.50 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 3.19 and a beta of 0.24. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55. The J. M. Smucker Company has a one year low of $105.69 and a one year high of $134.62.

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 the consensus estimate 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 for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm earned $2.21 EPS. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, research analysts predict that The J. M. Smucker Company will post 9.82 EPS for the current year.

J. M. Smucker Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were paid a $1.08 dividend. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Friday, August 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.68%. J. M. Smucker’s dividend payout ratio is 60.67%.

Analysts Set New Price Targets

SJM has been the subject of a number of research analyst reports. DA Davidson restated a “neutral” rating and set a $121.00 price objective on shares of J. M. Smucker in a research report on Thursday, August 29th. Argus decreased their price target on shares of J. M. Smucker from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, June 13th. BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Wells Fargo & Company reduced their target price on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Finally, Bank of America lowered their price target on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock 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 issued a buy rating to the company’s stock. According to MarketBeat.com, J. M. Smucker presently has a consensus rating of “Hold” and an average price target of $127.25.

Insider Transactions at J. M. Smucker

In related 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 value of $1,101,600.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.40% of the company’s stock.

J. M. Smucker Company 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.