Journey Advisory Group LLC Decreases Stake in The J. M. Smucker Company (NYSE:SJM)

Journey Advisory Group LLC cut its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 16.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,234 shares of the company’s stock after selling 448 shares during the quarter. Journey Advisory Group LLC’s holdings in J. M. Smucker were worth $244,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strategy Asset Managers LLC purchased a new position in shares of J. M. Smucker during the 2nd quarter valued at approximately $237,000. Guidance Capital Inc. lifted its holdings in J. M. Smucker by 13.0% during the second quarter. Guidance Capital Inc. now owns 7,488 shares of the company’s stock valued at $883,000 after purchasing an additional 859 shares in the last quarter. Resonant Capital Advisors LLC grew its position in shares of J. M. Smucker by 2.5% in the second quarter. Resonant Capital Advisors LLC now owns 14,693 shares of the company’s stock valued at $1,602,000 after purchasing an additional 365 shares during the period. D.A. Davidson & CO. increased its stake in shares of J. M. Smucker by 12.0% during the second quarter. D.A. Davidson & CO. now owns 34,468 shares of the company’s stock worth $3,758,000 after purchasing an additional 3,702 shares in the last quarter. Finally, Tandem Investment Advisors Inc. raised its position in shares of J. M. Smucker by 2.5% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 689,076 shares of the company’s stock worth $75,137,000 after purchasing an additional 17,016 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. StockNews.com cut J. M. Smucker from a “hold” rating to a “sell” rating in a report on Friday. Bank of America dropped their target price on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Wells Fargo & Company reduced their price target on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Finally, Citigroup reduced their target price 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, J. M. Smucker currently has a consensus rating of “Hold” and a consensus price target of $127.25.

J. M. Smucker Stock Performance

NYSE:SJM opened at $121.19 on Friday. The J. M. Smucker Company has a 52 week low of $105.69 and a 52 week high of $143.75. The company has a fifty day simple moving average of $116.82 and a two-hundred day simple moving average of $116.51. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87. The company has a market cap of $12.90 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 3.19 and a beta of 0.24.

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

J. M. Smucker Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were paid a dividend of $1.08 per share. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 annualized dividend and a yield of 3.56%. The ex-dividend date was Friday, August 16th. J. M. Smucker’s dividend payout ratio (DPR) is currently 60.67%.

Insider Buying and Selling at J. M. Smucker

In related news, CEO Mark T. Smucker sold 10,000 shares of the company’s stock in a transaction on 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 the SEC website. 3.40% of the stock is currently owned by insiders.

J. M. Smucker Company Profile

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.