ProVise Management Group LLC Has $365,000 Holdings in The J. M. Smucker Company (NYSE:SJM)

ProVise Management Group LLC lessened its position in The J. M. Smucker Company (NYSE:SJM) by 67.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,886 shares of the company’s stock after selling 6,010 shares during the period. ProVise Management Group LLC’s holdings in J. M. Smucker were worth $365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Corient Private Wealth LLC lifted its holdings in shares of J. M. Smucker by 67.9% during the third quarter. Corient Private Wealth LLC now owns 57,776 shares of the company’s stock worth $7,101,000 after buying an additional 23,372 shares during the last quarter. Pinnacle Financial Partners Inc bought a new stake in J. M. Smucker in the 3rd quarter valued at $238,000. Lincoln National Corp grew its position in J. M. Smucker by 2.1% in the 3rd quarter. Lincoln National Corp now owns 7,559 shares of the company’s stock worth $929,000 after purchasing an additional 159 shares during the last quarter. Wealthspire Advisors LLC grew its position in J. M. Smucker by 350.6% in the 3rd quarter. Wealthspire Advisors LLC now owns 6,966 shares of the company’s stock worth $856,000 after purchasing an additional 5,420 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of J. M. Smucker by 6.0% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 152,548 shares of the company’s stock worth $18,750,000 after purchasing an additional 8,695 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Trading Down 0.6 %

SJM traded down $0.63 during midday trading on Friday, hitting $109.77. The company had a trading volume of 838,496 shares, compared to its average volume of 1,154,390. The J. M. Smucker Company has a twelve month low of $107.33 and a twelve month high of $156.03. The firm’s 50-day simple moving average is $116.51 and its 200-day simple moving average is $120.71. The company has a current ratio of 0.78, a quick ratio of 0.38 and a debt-to-equity ratio of 1.07.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.21. J. M. Smucker had a negative net margin of 1.24% and a positive return on equity of 14.29%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the business posted $2.21 earnings per share. J. M. Smucker’s revenue for the quarter was up .6% compared to the same quarter last year. On average, analysts forecast that The J. M. Smucker Company will post 9.59 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be paid a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Thursday, May 16th. J. M. Smucker’s dividend payout ratio (DPR) is presently -481.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SJM shares. Citigroup decreased their target price on J. M. Smucker from $153.00 to $152.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. TD Cowen dropped their price objective on shares of J. M. Smucker from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. DA Davidson started coverage on shares of J. M. Smucker in a report on Friday, March 1st. They set a “neutral” rating and a $132.00 price objective for the company. Barclays upped their target price on shares of J. M. Smucker from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Finally, Stifel Nicolaus upgraded J. M. Smucker from a “hold” rating to a “buy” rating and set a $135.00 price objective on the stock in a research note on Wednesday, February 28th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $137.47.

Insider Activity at J. M. Smucker

In other J. M. Smucker news, insider Jeannette L. Knudsen sold 3,200 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $124.77, for a total transaction of $399,264.00. Following the completion of the sale, the insider now directly owns 8,946 shares of the company’s stock, valued at approximately $1,116,192.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.50% 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.