B. Riley Wealth Advisors Inc. Reduces Holdings in The J. M. Smucker Company (NYSE:SJM)

B. Riley Wealth Advisors Inc. lowered its position in The J. M. Smucker Company (NYSE:SJM) by 10.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,716 shares of the company’s stock after selling 200 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in J. M. Smucker were worth $204,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. &PARTNERS grew its position in shares of J. M. Smucker by 15.3% in the second quarter. &PARTNERS now owns 4,376 shares of the company’s stock valued at $477,000 after purchasing an additional 581 shares in the last quarter. Raymond James Trust N.A. grew its holdings in J. M. Smucker by 20.2% in the 2nd quarter. Raymond James Trust N.A. now owns 4,536 shares of the company’s stock valued at $495,000 after buying an additional 763 shares in the last quarter. SlateStone Wealth LLC increased its stake in shares of J. M. Smucker by 4.0% in the 2nd quarter. SlateStone Wealth LLC now owns 3,990 shares of the company’s stock worth $435,000 after acquiring an additional 154 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of J. M. Smucker by 0.3% during the 2nd quarter. State of Michigan Retirement System now owns 33,561 shares of the company’s stock worth $3,659,000 after acquiring an additional 100 shares during the period. Finally, Trajan Wealth LLC boosted its position in shares of J. M. Smucker by 2.4% during the 2nd quarter. Trajan Wealth LLC now owns 34,922 shares of the company’s stock valued at $3,808,000 after acquiring an additional 829 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Activity

In related news, CFO Tucker H. Marshall sold 994 shares of the company’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 transaction of $112,322.00. Following the sale, the chief financial officer now directly owns 18,734 shares in the company, valued at approximately $2,116,942. This represents a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.40% of the company’s stock.

J. M. Smucker Price Performance

SJM opened at $109.89 on Monday. The stock’s 50-day moving average price is $115.13 and its 200 day moving average price is $115.94. The J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $134.62. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 3.46 and a beta of 0.26. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.25. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The business had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the company earned $2.59 earnings per share. The business’s quarterly revenue was up 17.2% on a year-over-year basis. As a group, sell-side analysts expect that The J. M. Smucker Company will post 9.89 earnings per share for the current year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Friday, November 15th. J. M. Smucker’s dividend payout ratio is currently 87.45%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SJM. Wells Fargo & Company raised their price objective on shares of J. M. Smucker from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Barclays reduced their price target on shares of J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 4th. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. Stifel Nicolaus downgraded J. M. Smucker from a “buy” rating to a “hold” rating and reduced their target price for the company from $135.00 to $125.00 in a research report on Friday, October 25th. Finally, Bank of America lowered their price target on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $128.56.

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.