J.M. Smucker Company (The) (NYSE:SJM) Shares Bought by First Merchants Corp

First Merchants Corp increased its position in shares of J.M. Smucker Company (The) (NYSE:SJM) by 7.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,798 shares of the company’s stock after buying an additional 2,304 shares during the period. J.M. Smucker Company (The) comprises about 1.1% of First Merchants Corp’s portfolio, making the stock its 26th largest position. First Merchants Corp’s holdings in J.M. Smucker Company (The) were worth $3,881,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Sumitomo Life Insurance Co. increased its position in shares of J.M. Smucker Company (The) by 223.4% in the second quarter. Sumitomo Life Insurance Co. now owns 12,677 shares of the company’s stock valued at $1,500,000 after buying an additional 8,757 shares in the last quarter. Boston Financial Mangement LLC increased its position in shares of J.M. Smucker Company (The) by 0.6% in the second quarter. Boston Financial Mangement LLC now owns 48,292 shares of the company’s stock valued at $5,714,000 after buying an additional 303 shares in the last quarter. Arthur M. Cohen & Associates LLC increased its position in shares of J.M. Smucker Company (The) by 187.1% in the second quarter. Arthur M. Cohen & Associates LLC now owns 9,330 shares of the company’s stock valued at $652,000 after buying an additional 6,080 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of J.M. Smucker Company (The) by 12.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 9,120 shares of the company’s stock valued at $1,079,000 after buying an additional 1,000 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of J.M. Smucker Company (The) by 5.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 18,487 shares of the company’s stock valued at $2,188,000 after buying an additional 953 shares during the last quarter. Institutional investors own 75.09% of the company’s stock.

Shares of J.M. Smucker Company (NYSE:SJM) opened at 121.90 on Friday. The company has a market capitalization of $13.83 billion, a PE ratio of 23.90 and a beta of 0.62. J.M. Smucker Company has a one year low of $114.31 and a one year high of $156.23. The company has a 50-day moving average of $119.57 and a 200-day moving average of $128.21.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be given a $0.78 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $3.12 dividend on an annualized basis and a yield of 2.56%. This is an increase from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. J.M. Smucker Company (The)’s dividend payout ratio (DPR) is 61.18%.

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Several brokerages recently commented on SJM. BidaskClub raised J.M. Smucker Company (The) from a “strong sell” rating to a “sell” rating in a report on Saturday, August 12th. Deutsche Bank AG reiterated a “hold” rating and set a $131.00 price objective (down from $135.00) on shares of J.M. Smucker Company (The) in a research report on Thursday, July 13th. Jefferies Group LLC upgraded shares of J.M. Smucker Company (The) from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $130.00 to $140.00 in a research report on Friday, July 28th. Susquehanna Bancshares Inc set a $141.00 price objective on shares of J.M. Smucker Company (The) and gave the stock a “hold” rating in a research report on Wednesday, June 7th. Finally, Hilliard Lyons upgraded shares of J.M. Smucker Company (The) from a “neutral” rating to a “long-term buy” rating and set a $140.00 price objective on the stock in a research report on Tuesday, July 11th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. J.M. Smucker Company (The) has a consensus rating of “Hold” and a consensus target price of $132.82.

In related news, insider Steven Oakland sold 6,047 shares of the firm’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $122.00, for a total value of $737,734.00. Following the completion of the transaction, the insider now owns 47,667 shares of the company’s stock, valued at $5,815,374. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jill R. Penrose sold 550 shares of the firm’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $120.09, for a total transaction of $66,049.50. Following the completion of the transaction, the senior vice president now directly 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. In the last ninety days, insiders sold 16,030 shares of company stock valued at $1,948,195. 3.50% of the stock is owned by 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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