Cary Street Partners Investment Advisory LLC Increases Holdings in The J. M. Smucker Company (NYSE:SJM)

Cary Street Partners Investment Advisory LLC increased its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,733 shares of the company’s stock after purchasing an additional 112 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in J. M. Smucker were worth $404,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC bought a new stake in shares of J. M. Smucker during the second quarter valued at approximately $27,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in J. M. Smucker by 142.9% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 187 shares of the company’s stock valued at $28,000 after acquiring an additional 110 shares in the last quarter. Duncker Streett & Co. Inc. bought a new position in shares of J. M. Smucker during the 2nd quarter valued at about $30,000. Clear Street Markets LLC grew its position in shares of J. M. Smucker by 97.2% during the first quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock valued at $33,000 after purchasing an additional 104 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of J. M. Smucker in the first quarter worth about $33,000. Institutional investors own 79.08% of the company’s stock.

J. M. Smucker Price Performance

SJM opened at $112.26 on Tuesday. The business has a fifty day moving average of $117.17 and a 200 day moving average of $137.48. The stock has a market cap of $11.47 billion, a P/E ratio of -660.35, a PEG ratio of 1.79 and a beta of 0.32. The company has a quick ratio of 0.72, a current ratio of 1.28 and a debt-to-equity ratio of 0.62. The J. M. Smucker Company has a 52-week low of $107.33 and a 52-week high of $163.07.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Tuesday, August 29th. The company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.19. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. J. M. Smucker had a negative net margin of 0.21% and a positive return on equity of 12.96%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 earnings per share. As a group, sell-side analysts anticipate that The J. M. Smucker Company will post 9.67 EPS for the current year.

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be paid a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Thursday, November 16th. J. M. Smucker’s dividend payout ratio is presently -2,494.12%.

Insider Activity at J. M. Smucker

In other J. M. Smucker news, insider Amy C. Held sold 9,917 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $143.80, for a total transaction of $1,426,064.60. Following the transaction, the insider now directly owns 5,972 shares in the company, valued at approximately $858,773.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SJM shares. The Goldman Sachs Group increased their price target on J. M. Smucker from $129.00 to $130.00 in a research note on Tuesday, August 29th. JPMorgan Chase & Co. reduced their price target on shares of J. M. Smucker from $153.00 to $137.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 12th. StockNews.com initiated coverage on shares of J. M. Smucker in a research report on Thursday, October 5th. They set a “hold” rating for the company. Stifel Nicolaus dropped their price objective on shares of J. M. Smucker from $160.00 to $150.00 and set a “hold” rating for the company in a research note on Wednesday, August 30th. Finally, Consumer Edge upgraded shares of J. M. Smucker from an “underweight” rating to an “equal weight” rating and set a $154.00 target price on the stock in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, J. M. Smucker presently has a consensus rating of “Hold” and an average price target of $144.38.

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.