Trustmark National Bank Trust Department Cuts Holdings in The J. M. Smucker Company (NYSE:SJM)

Trustmark National Bank Trust Department lessened its stake in The J. M. Smucker Company (NYSE:SJM) by 11.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 2,891 shares of the company’s stock after selling 377 shares during the quarter. Trustmark National Bank Trust Department’s holdings in J. M. Smucker were worth $364,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Edgestream Partners L.P. boosted its stake in shares of J. M. Smucker by 430.4% in the 1st quarter. Edgestream Partners L.P. now owns 16,182 shares of the company’s stock valued at $2,037,000 after purchasing an additional 13,131 shares in the last quarter. Te Ahumairangi Investment Management Ltd raised its holdings in J. M. Smucker by 1.1% during the 1st quarter. Te Ahumairangi Investment Management Ltd now owns 44,611 shares of the company’s stock valued at $5,615,000 after buying an additional 495 shares during the last quarter. Mizuho Markets Americas LLC raised its holdings in J. M. Smucker by 93.7% during the 1st quarter. Mizuho Markets Americas LLC now owns 77,836 shares of the company’s stock valued at $9,797,000 after buying an additional 37,658 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in J. M. Smucker by 3.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171,933 shares of the company’s stock valued at $21,641,000 after buying an additional 6,216 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in J. M. Smucker by 10.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 129,016 shares of the company’s stock valued at $16,239,000 after buying an additional 11,915 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SJM. Citigroup upped their price objective on shares of J. M. Smucker from $137.00 to $139.00 and gave the stock a “buy” rating in a report on Friday, June 7th. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Tuesday. TD Cowen decreased 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. DA Davidson decreased their price objective on shares of J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating for the company in a report on Monday, June 10th. Finally, Argus decreased their price target on shares of J. M. Smucker from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $132.64.

Insider Transactions at J. M. Smucker

In related news, CEO Mark T. Smucker sold 10,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 78,757 shares of the company’s stock, valued at approximately $8,675,871.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.40% of the company’s stock.

J. M. Smucker Stock Down 0.4 %

Shares of SJM traded down $0.44 during mid-day trading on Tuesday, hitting $115.79. 464,642 shares of the company traded hands, compared to its average volume of 1,248,905. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $153.94. The business has a 50 day moving average of $111.99 and a 200 day moving average of $118.85. The company has a quick ratio of 0.25, a current ratio of 0.52 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $12.30 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 2.36 and a beta of 0.25.

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

J. M. Smucker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be issued a $1.08 dividend. The ex-dividend date is Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.73%. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s dividend payout ratio (DPR) is presently 59.55%.

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.