Headlands Technologies LLC Invests $506,000 in The J. M. Smucker Company (NYSE:SJM)

Headlands Technologies LLC purchased a new stake in The J. M. Smucker Company (NYSE:SJM) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,020 shares of the company’s stock, valued at approximately $506,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its holdings in J. M. Smucker by 298.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 20,270 shares of the company’s stock worth $2,562,000 after purchasing an additional 15,182 shares during the last quarter. California State Teachers Retirement System increased its holdings in J. M. Smucker by 5.5% during the 4th quarter. California State Teachers Retirement System now owns 170,552 shares of the company’s stock valued at $21,554,000 after acquiring an additional 8,960 shares in the last quarter. Ardevora Asset Management LLP acquired a new position in J. M. Smucker in the 4th quarter valued at $11,147,000. Vanguard Group Inc. lifted its stake in shares of J. M. Smucker by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock valued at $1,702,515,000 after purchasing an additional 518,433 shares in the last quarter. Finally, AMF Tjanstepension AB acquired a new stake in shares of J. M. Smucker in the first quarter valued at about $23,990,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Price Performance

NYSE:SJM traded up $0.84 on Tuesday, hitting $117.22. The company had a trading volume of 392,302 shares, compared to its average volume of 1,259,830. The J. M. Smucker Company has a 52 week low of $105.69 and a 52 week high of $153.94. The company has a current ratio of 0.52, a quick ratio of 0.25 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $12.45 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.26 and a beta of 0.25. The firm has a 50 day moving average of $111.54 and a two-hundred day moving average of $119.19.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Thursday, June 6th. The company reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.34. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.24 billion. J. M. Smucker had a net margin of 9.10% and a return on equity of 14.15%. J. M. Smucker’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.64 EPS. On average, research analysts anticipate that The J. M. Smucker Company will post 10.06 earnings per share for the current year.

J. M. Smucker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Friday, August 16th. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 annualized dividend and a dividend yield of 3.69%. J. M. Smucker’s payout ratio is presently 59.55%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Citigroup lifted their target price on J. M. Smucker from $137.00 to $139.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. TD Cowen reduced their price objective on shares of J. M. Smucker from $140.00 to $135.00 and set a “buy” rating for the company in a report on Friday, June 7th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Friday. Argus reduced their target price on J. M. Smucker from $150.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, June 13th. Finally, Barclays lowered their price target on J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $132.64.

Insider Transactions at J. M. Smucker

In other J. M. Smucker news, CEO Mark T. Smucker sold 10,000 shares of J. M. Smucker stock in a transaction dated 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 owns 78,757 shares of the company’s stock, valued at approximately $8,675,871.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.40% of the stock is owned by corporate 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.