The J. M. Smucker Company (NYSE:SJM) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. reduced its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,518 shares of the company’s stock after selling 357 shares during the period. Johnson Investment Counsel Inc.’s holdings in J. M. Smucker were worth $1,474,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sound View Wealth Advisors Group LLC grew its stake 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 in the last quarter. Tradition Wealth Management LLC lifted its holdings in J. M. Smucker by 7.3% during the 4th quarter. Tradition Wealth Management LLC now owns 1,217 shares of the company’s stock worth $154,000 after buying an additional 83 shares during the last quarter. Czech National Bank grew its position in shares of J. M. Smucker by 0.5% in the 1st quarter. Czech National Bank now owns 18,676 shares of the company’s stock worth $2,351,000 after acquiring an additional 88 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of J. M. Smucker by 0.7% in the 1st 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 last quarter. Finally, State of Michigan Retirement System raised its position in shares of J. M. Smucker by 0.3% during the 2nd quarter. State of Michigan Retirement System now owns 33,561 shares of the company’s stock valued at $3,659,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Insider Activity at J. M. Smucker

In other J. M. Smucker 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 completion of the sale, the chief executive officer now directly owns 78,757 shares in the company, valued at $8,675,871.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.40% of the company’s stock.

J. M. Smucker Stock Up 2.3 %

Shares of J. M. Smucker stock opened at $120.74 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62. The business’s fifty day moving average price is $117.97 and its two-hundred day moving average price is $116.26. The company has a market capitalization of $12.85 billion, a P/E ratio of 16.96, a PEG ratio of 3.13 and a beta of 0.24.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.27. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The company’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 earnings per share. As a group, research analysts forecast that The J. M. Smucker Company will post 9.82 EPS for the current year.

J. M. Smucker Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were issued a $1.08 dividend. The ex-dividend date was Friday, August 16th. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 annualized dividend and a dividend yield of 3.58%. J. M. Smucker’s dividend payout ratio (DPR) is 60.67%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. StockNews.com lowered shares of J. M. Smucker from a “hold” rating to a “sell” rating in a research note on Saturday. Citigroup dropped their price objective 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, August 29th. Bank of America cut their target price on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Wells Fargo & Company lowered their target price on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Finally, DA Davidson reissued a “neutral” rating and issued a $121.00 price target on shares of J. M. Smucker in a report on Thursday, August 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $127.25.

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.