Freestone Capital Holdings LLC Sells 2,271 Shares of The J. M. Smucker Company (NYSE:SJM)

Freestone Capital Holdings LLC trimmed its position in shares of The J. M. Smucker Company (NYSE:SJM) by 46.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,611 shares of the company’s stock after selling 2,271 shares during the quarter. Freestone Capital Holdings LLC’s holdings in J. M. Smucker were worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC raised its holdings in J. M. Smucker by 298.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 20,270 shares of the company’s stock worth $2,562,000 after purchasing an additional 15,182 shares during the period. California State Teachers Retirement System increased its stake in J. M. Smucker by 5.5% in the 4th quarter. California State Teachers Retirement System now owns 170,552 shares of the company’s stock worth $21,554,000 after buying an additional 8,960 shares in the last quarter. Ardevora Asset Management LLP purchased a new stake in J. M. Smucker in the 4th quarter worth $11,147,000. Vanguard Group Inc. increased its stake in J. M. Smucker by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock worth $1,702,515,000 after buying an additional 518,433 shares in the last quarter. Finally, AMF Tjanstepension AB purchased a new stake in J. M. Smucker in the 1st quarter worth $23,990,000. 81.66% of the stock is owned by institutional investors.

J. M. Smucker Stock Up 1.8 %

SJM stock traded up $2.13 during trading on Friday, hitting $118.19. 754,998 shares of the company’s stock traded hands, compared to its average volume of 977,613. The firm has a market capitalization of $12.55 billion, a P/E ratio of 16.60, a PEG ratio of 2.32 and a beta of 0.25. The business has a fifty day simple moving average of $112.10 and a two-hundred day simple moving average of $118.66. The company has a quick ratio of 0.25, a current ratio of 0.52 and a debt-to-equity ratio of 0.88. The J. M. Smucker Company has a 1 year low of $105.69 and a 1 year high of $153.00.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Thursday, June 6th. The company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.34. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.24 billion. J. M. Smucker had a net margin of 9.10% and a return on equity of 14.15%. J. M. Smucker’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the company posted $2.64 earnings per share. Sell-side analysts anticipate that The J. M. Smucker Company will post 10.06 EPS for the current year.

J. M. Smucker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be issued a $1.08 dividend. 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 3.66%. The ex-dividend date of this dividend is Friday, August 16th. J. M. Smucker’s payout ratio is currently 59.55%.

Insiders Place Their Bets

In other J. M. Smucker news, CEO Mark T. Smucker sold 10,000 shares of J. M. Smucker 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 transaction, the chief executive officer now directly owns 78,757 shares of the company’s stock, valued at $8,675,871.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SJM shares. Argus cut their price target 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. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Tuesday. TD Cowen cut their price objective on 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. Barclays cut their price objective on J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. Finally, Citigroup raised their price objective on J. M. Smucker from $137.00 to $139.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $132.64.

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.