Burney Co. Sells 199 Shares of The J. M. Smucker Company (NYSE:SJM)

Burney Co. cut its holdings in The J. M. Smucker Company (NYSE:SJM) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,538 shares of the company’s stock after selling 199 shares during the quarter. Burney Co.’s holdings in J. M. Smucker were worth $604,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sound View Wealth Advisors Group LLC boosted its holdings in J. M. Smucker by 1.6% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 5,281 shares of the company’s stock worth $667,000 after purchasing an additional 81 shares during the last quarter. Tradition Wealth Management LLC grew its holdings in shares of J. M. Smucker by 7.3% in the fourth quarter. Tradition Wealth Management LLC now owns 1,217 shares of the company’s stock worth $154,000 after acquiring an additional 83 shares during the period. Czech National Bank increased its position in J. M. Smucker by 0.5% during the first quarter. Czech National Bank now owns 18,676 shares of the company’s stock valued at $2,351,000 after acquiring an additional 88 shares during the last quarter. Resonant Capital Advisors LLC lifted its holdings in J. M. Smucker by 0.7% in the first quarter. Resonant Capital Advisors LLC now owns 14,328 shares of the company’s stock valued at $1,803,000 after acquiring an additional 93 shares during the period. Finally, First National Trust Co boosted its position in J. M. Smucker by 4.9% in the fourth quarter. First National Trust Co now owns 2,110 shares of the company’s stock worth $267,000 after purchasing an additional 99 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SJM shares. Bank of America lowered their price objective on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a research note on Thursday. Citigroup dropped their price target on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Thursday. TD Cowen cut their price objective on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday. StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Wells Fargo & Company cut their price target on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $129.50.

Insider Activity at J. M. Smucker

In related news, CEO Mark T. Smucker sold 10,000 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the sale, 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 legal filing with the SEC, which is available through the SEC website. 3.40% of the stock is currently owned by insiders.

J. M. Smucker Price Performance

Shares of SJM stock traded down $0.56 during mid-day trading on Thursday, hitting $114.17. The company had a trading volume of 1,000,108 shares, compared to its average volume of 1,231,553. The company has a market capitalization of $12.12 billion, a P/E ratio of 15.88, a P/E/G ratio of 2.42 and a beta of 0.25. The stock’s 50 day moving average price is $115.84 and its 200-day moving average price is $116.82. The J. M. Smucker Company has a 52-week low of $105.69 and a 52-week high of $146.29. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.52 and a quick ratio of 0.25.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.18 by $0.26. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. J. M. Smucker had a net margin of 9.10% and a return on equity of 14.15%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.21 EPS. Equities research analysts forecast that The J. M. Smucker Company will post 10.05 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. Stockholders of record on Friday, August 16th will be given a dividend of $1.08 per share. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Friday, August 16th. J. M. Smucker’s dividend payout ratio is currently 60.67%.

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.