The J. M. Smucker Company (NYSE:SJM) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lessened its stake in The J. M. Smucker Company (NYSE:SJM) by 10.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,170 shares of the company’s stock after selling 1,039 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in J. M. Smucker were worth $1,000,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SJM. Boston Partners acquired a new position in shares of J. M. Smucker in the 1st quarter valued at $364,990,000. Norges Bank acquired a new position in shares of J. M. Smucker in the 4th quarter valued at $157,077,000. Point72 Asset Management L.P. boosted its holdings in shares of J. M. Smucker by 21,858.1% in the 4th quarter. Point72 Asset Management L.P. now owns 680,700 shares of the company’s stock valued at $86,027,000 after purchasing an additional 677,600 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of J. M. Smucker by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock valued at $1,702,515,000 after purchasing an additional 518,433 shares during the last quarter. Finally, Ilex Capital Partners UK LLP acquired a new position in shares of J. M. Smucker in the 1st quarter valued at $48,207,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on SJM shares. BNP Paribas upgraded shares of J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. DA Davidson reiterated a “neutral” rating and issued a $121.00 price target on shares of J. M. Smucker in a report on Thursday, August 29th. Wells Fargo & Company decreased their price target on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. 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 report on Thursday, August 29th. Finally, StockNews.com lowered shares of J. M. Smucker from a “hold” rating to a “sell” rating in a report on Saturday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, J. M. Smucker presently has a consensus rating of “Hold” and a consensus target price of $127.25.

Insider Transactions at J. M. Smucker

In other news, CEO Mark T. Smucker sold 10,000 shares of the business’s 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 of the company’s stock, valued at approximately $8,675,871.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.40% of the company’s stock.

J. M. Smucker Stock Performance

J. M. Smucker stock opened at $119.71 on Wednesday. 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 market capitalization of $12.74 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 3.20 and a beta of 0.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The firm’s fifty day moving average price is $118.19 and its 200 day moving average price is $116.18.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the firm posted $2.21 EPS. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. On average, research analysts forecast that The J. M. Smucker Company will post 9.82 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The company 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 an increase from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date was Friday, August 16th. This represents a $4.32 annualized dividend and a yield of 3.61%. J. M. Smucker’s payout ratio is 60.67%.

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.