State of Michigan Retirement System Has $3.66 Million Position in The J. M. Smucker Company (NYSE:SJM)

State of Michigan Retirement System lifted its stake in The J. M. Smucker Company (NYSE:SJM) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,561 shares of the company’s stock after acquiring an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in J. M. Smucker were worth $3,659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. SlateStone Wealth LLC lifted its stake in shares of J. M. Smucker by 4.0% in the second quarter. SlateStone Wealth LLC now owns 3,990 shares of the company’s stock worth $435,000 after buying an additional 154 shares during the last quarter. apricus wealth LLC boosted its holdings in J. M. Smucker by 178.8% during the second quarter. apricus wealth LLC now owns 22,487 shares of the company’s stock valued at $2,452,000 after acquiring an additional 14,420 shares during the period. Raymond James Trust N.A. raised its stake in shares of J. M. Smucker by 20.2% in the second quarter. Raymond James Trust N.A. now owns 4,536 shares of the company’s stock valued at $495,000 after purchasing an additional 763 shares in the last quarter. Wedgewood Investors Inc. PA acquired a new stake in J. M. Smucker during the second quarter worth $253,000. Finally, Kanawha Capital Management LLC increased its holdings in J. M. Smucker by 20.0% in the 2nd quarter. Kanawha Capital Management LLC now owns 3,000 shares of the company’s stock valued at $327,000 after buying an additional 500 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

J. M. Smucker Stock Down 0.6 %

NYSE:SJM opened at $120.67 on Wednesday. The stock has a market cap of $12.81 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 2.42 and a beta of 0.25. 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 50-day moving average price of $115.79 and a two-hundred day moving average price of $116.83. The J. M. Smucker Company has a 1 year low of $105.69 and a 1 year high of $147.48.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Thursday, June 6th. The company reported $2.66 EPS for the quarter, topping the consensus estimate of $2.32 by $0.34. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.24 billion. J. M. Smucker had a net margin of 9.10% and a return on equity of 14.15%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the company posted $2.64 EPS. As a group, equities analysts expect that The J. M. Smucker Company will post 10.05 earnings per share for the current year.

J. M. Smucker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be paid a dividend of $1.08 per share. The ex-dividend date is Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.58%. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s dividend payout ratio is currently 60.67%.

Insider Activity at J. M. Smucker

In other news, CEO Mark T. Smucker sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $110.16, for a total value of $1,101,600.00. Following the transaction, the chief executive officer now owns 78,757 shares of the company’s stock, valued at $8,675,871.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SJM. Citigroup reduced their price objective on shares of J. M. Smucker from $139.00 to $138.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. DA Davidson decreased their price objective on J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating on the stock in a report on Monday, June 10th. Barclays decreased their price target on J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. TD Cowen dropped their price target on J. M. Smucker from $140.00 to $135.00 and set a “buy” rating for the company in a report on Friday, June 7th. Finally, Argus lowered their target price on 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, J. M. Smucker has an average rating of “Hold” and a consensus price target of $132.57.

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.