J.M. Smucker Company (The) (SJM) Stake Boosted by FineMark National Bank & Trust

FineMark National Bank & Trust boosted its position in J.M. Smucker Company (The) (NYSE:SJM) by 9.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,393 shares of the company’s stock after buying an additional 203 shares during the period. FineMark National Bank & Trust’s holdings in J.M. Smucker Company (The) were worth $283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbour Capital Advisors LLC purchased a new position in shares of J.M. Smucker Company (The) during the first quarter worth about $126,000. Fenimore Asset Management Inc. bought a new stake in J.M. Smucker Company (The) during the first quarter valued at $200,000. Schnieders Capital Management LLC bought a new stake in J.M. Smucker Company (The) during the first quarter valued at $217,000. Advisory Services Network LLC bought a new stake in J.M. Smucker Company (The) during the first quarter valued at $221,000. Finally, HPM Partners LLC bought a new stake in J.M. Smucker Company (The) during the first quarter valued at $229,000. 75.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of J.M. Smucker Company (NYSE SJM) opened at 122.28 on Friday. The stock has a 50 day moving average of $119.21 and a 200 day moving average of $128.65. The stock has a market capitalization of $13.87 billion, a P/E ratio of 23.98 and a beta of 0.62. J.M. Smucker Company has a 12-month low of $114.31 and a 12-month high of $156.23.

J.M. Smucker Company (The) (NYSE:SJM) last announced its earnings results on Thursday, June 8th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.08. J.M. Smucker Company (The) had a net margin of 8.01% and a return on equity of 12.63%. The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company posted $1.19 EPS. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. Equities research analysts anticipate that J.M. Smucker Company will post $7.97 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be issued a $0.78 dividend. This is a boost from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $3.12 annualized dividend and a yield of 2.55%. J.M. Smucker Company (The)’s payout ratio is 61.18%.

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Several research firms have weighed in on SJM. BidaskClub raised shares of J.M. Smucker Company (The) from a “strong sell” rating to a “sell” rating in a research report on Saturday. J P Morgan Chase & Co reissued an “overweight” rating and set a $135.00 target price (down previously from $137.00) on shares of J.M. Smucker Company (The) in a research report on Wednesday, June 28th. Deutsche Bank AG reissued a “hold” rating and set a $131.00 target price (down previously from $135.00) on shares of J.M. Smucker Company (The) in a research report on Thursday, July 13th. Morgan Stanley reissued an “underweight” rating and set a $114.00 target price (down previously from $126.00) on shares of J.M. Smucker Company (The) in a research report on Tuesday, July 18th. Finally, Susquehanna Bancshares Inc reissued a “neutral” rating and set a $132.00 target price (down previously from $135.00) on shares of J.M. Smucker Company (The) in a research report on Tuesday, April 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $132.82.

In other J.M. Smucker Company (The) news, insider Steven Oakland sold 6,047 shares of J.M. Smucker Company (The) stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $122.00, for a total value of $737,734.00. Following the completion of the sale, the insider now owns 47,667 shares in the company, valued at approximately $5,815,374. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jill R. Penrose sold 550 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $120.09, for a total value of $66,049.50. Following the sale, the senior vice president now owns 13,475 shares of the company’s stock, valued at approximately $1,618,212.75. The disclosure for this sale can be found here. Insiders sold a total of 16,030 shares of company stock valued at $1,948,195 in the last 90 days. 3.50% of the stock is owned by company insiders.

About J.M. Smucker Company (The)

The J. M. Smucker Company is a manufacturer and marketer of branded food and beverage products and pet food and pet snacks in North America. The Company’s segments include U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Foodservice. The Company’s U.S. retail market segments consist of the sale of branded food products to consumers through retail outlets in North America.

Institutional Ownership by Quarter for J.M. Smucker Company (The) (NYSE:SJM)

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