Perigon Wealth Management LLC Increases Position in The J. M. Smucker Company (NYSE:SJM)

Perigon Wealth Management LLC boosted its holdings in The J. M. Smucker Company (NYSE:SJM) by 16.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,723 shares of the company’s stock after purchasing an additional 941 shares during the period. Perigon Wealth Management LLC’s holdings in J. M. Smucker were worth $689,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SJM. Public Sector Pension Investment Board increased its stake in shares of J. M. Smucker by 65.2% in the second quarter. Public Sector Pension Investment Board now owns 4,018 shares of the company’s stock worth $438,000 after buying an additional 1,586 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in J. M. Smucker by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 69,370 shares of the company’s stock worth $7,564,000 after acquiring an additional 1,296 shares in the last quarter. Quarry LP increased its position in shares of J. M. Smucker by 212.6% in the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after purchasing an additional 219 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of J. M. Smucker by 2.9% in the 2nd quarter. Cetera Investment Advisers now owns 24,886 shares of the company’s stock valued at $2,714,000 after purchasing an additional 712 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of J. M. Smucker during the second quarter worth about $1,002,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Trading Down 0.9 %

Shares of NYSE:SJM opened at $106.80 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The company’s 50-day moving average price is $109.94 and its 200 day moving average price is $114.96. The company has a market cap of $11.37 billion, a PE ratio of 21.62, a P/E/G ratio of 3.23 and a beta of 0.28. The J. M. Smucker Company has a fifty-two week low of $99.81 and a fifty-two week high of $134.62.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.25. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the firm posted $2.59 earnings per share. The business’s revenue was up 17.2% on a year-over-year basis. Sell-side analysts anticipate that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Friday, February 14th. J. M. Smucker’s dividend payout ratio (DPR) is 87.45%.

Analyst Ratings Changes

Several analysts have issued reports on SJM shares. Barclays cut their price objective on J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 4th. TD Cowen cut J. M. Smucker from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $130.00 to $121.00 in a research note on Wednesday, January 8th. Wells Fargo & Company boosted their target price on shares of J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, Stifel Nicolaus reduced their price target on shares of J. M. Smucker from $125.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $126.78.

Insider Activity at J. M. Smucker

In other J. M. Smucker news, CFO Tucker H. Marshall sold 994 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $113.00, for a total transaction of $112,322.00. Following the transaction, the chief financial officer now owns 18,734 shares of the company’s stock, valued at approximately $2,116,942. This trade represents a 5.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.40% of the company’s stock.

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.