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

First Merchants Corp lessened its holdings in The J. M. Smucker Company (NYSE:SJM) by 26.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,220 shares of the company’s stock after selling 800 shares during the quarter. First Merchants Corp’s holdings in J. M. Smucker were worth $242,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Wolverine Asset Management LLC increased its stake in J. M. Smucker by 300.0% during the 4th quarter. Wolverine Asset Management LLC now owns 200 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. Advantage Trust Co acquired a new position in shares of J. M. Smucker in the 4th quarter valued at $25,000. Cooksen Wealth LLC purchased a new position in J. M. Smucker in the 4th quarter worth $33,000. Venturi Wealth Management LLC acquired a new stake in J. M. Smucker during the 1st quarter worth about $35,000. Finally, Principal Securities Inc. purchased a new stake in J. M. Smucker during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Insider Buying and Selling

In other J. M. Smucker news, CEO Mark T. Smucker sold 10,000 shares of the stock in a transaction dated Friday, June 21st. The shares were 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 owns 78,757 shares in the company, valued at approximately $8,675,871.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by company insiders.

J. M. Smucker Price Performance

NYSE:SJM traded up $0.99 during trading hours on Friday, hitting $122.04. 579,966 shares of the stock were exchanged, compared to its average volume of 1,080,602. The firm’s fifty day moving average price is $115.44 and its 200 day moving average price is $117.05. The J. M. Smucker Company has a 52-week low of $105.69 and a 52-week high of $147.48. The company has a market cap of $12.96 billion, a P/E ratio of 17.14, a P/E/G ratio of 2.42 and a beta of 0.25. The company has a current ratio of 0.52, a quick ratio of 0.25 and a debt-to-equity ratio of 0.88.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Thursday, June 6th. The company reported $2.66 EPS for the quarter, topping the consensus estimate of $2.32 by $0.34. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.24 billion. J. M. Smucker had a return on equity of 14.15% and a net margin of 9.10%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.64 earnings per share. As a group, equities research analysts anticipate that The J. M. Smucker Company will post 10.05 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be paid a $1.08 dividend. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Friday, August 16th. J. M. Smucker’s dividend payout ratio (DPR) is currently 60.67%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SJM. Argus reduced their price objective on J. M. Smucker from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Citigroup decreased their price objective on shares of J. M. Smucker from $139.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. DA Davidson cut their price objective on shares of J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating on the stock in a research note on Monday, June 10th. TD Cowen decreased their target price on shares of J. M. Smucker from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Finally, Barclays dropped their price objective on shares of J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, J. M. Smucker currently has an average rating of “Hold” and a consensus target price of $132.57.

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.