Stoneridge Investment Partners LLC Buys Shares of 14,350 The J. M. Smucker Company (NYSE:SJM)

Stoneridge Investment Partners LLC bought a new stake in The J. M. Smucker Company (NYSE:SJM) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 14,350 shares of the company’s stock, valued at approximately $1,565,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sound View Wealth Advisors Group LLC grew its holdings in J. M. Smucker by 1.6% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 5,281 shares of the company’s stock valued at $667,000 after purchasing an additional 81 shares during the last quarter. Tradition Wealth Management LLC increased its position in J. M. Smucker by 7.3% during the fourth quarter. Tradition Wealth Management LLC now owns 1,217 shares of the company’s stock worth $154,000 after buying an additional 83 shares in the last quarter. Czech National Bank raised its holdings in shares of J. M. Smucker by 0.5% in the first quarter. Czech National Bank now owns 18,676 shares of the company’s stock worth $2,351,000 after acquiring an additional 88 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in shares of J. M. Smucker by 0.7% in the first quarter. Resonant Capital Advisors LLC now owns 14,328 shares of the company’s stock valued at $1,803,000 after acquiring an additional 93 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of J. M. Smucker by 0.3% during the second quarter. State of Michigan Retirement System now owns 33,561 shares of the company’s stock valued at $3,659,000 after acquiring an additional 100 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

J. M. Smucker Trading Up 2.3 %

Shares of SJM opened at $120.74 on Friday. The stock’s 50-day moving average is $117.97 and its two-hundred day moving average is $116.26. The stock has a market cap of $12.85 billion, a PE ratio of 16.96, a P/E/G ratio of 3.13 and a beta of 0.24. The J. M. Smucker Company has a 12 month low of $105.69 and a 12 month high of $134.62. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.27. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.21 earnings per share. Equities analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date was Friday, August 16th. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s payout ratio is currently 60.67%.

Insiders Place Their Bets

In related news, CEO Mark T. Smucker sold 10,000 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $110.16, for a total value of $1,101,600.00. Following the transaction, the chief executive officer now owns 78,757 shares in the company, valued at $8,675,871.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barclays reduced their target price on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. Citigroup lowered their target price on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. TD Cowen reduced their price target on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and issued a $121.00 price objective on shares of J. M. Smucker in a research report on Thursday, August 29th. Finally, BNP Paribas raised J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, J. M. Smucker currently has a consensus rating of “Hold” and an average price target of $127.25.

J. M. Smucker 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.