Shares of JM Smucker Company (NYSE:SJM) sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its stake in The JM Smucker Company (NYSE:SJM – Free Report) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 59,027 shares of the company’s stock after selling 882 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in JM Smucker were worth $6,436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wolverine Asset Management LLC grew its position in JM Smucker by 300.0% during the fourth quarter. Wolverine Asset Management LLC now owns 200 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the period. Advantage Trust Co purchased a new position in shares of JM Smucker in the 4th quarter valued at $25,000. Cooksen Wealth LLC acquired a new position in shares of JM Smucker in the fourth quarter valued at about $33,000. Venturi Wealth Management LLC purchased a new stake in shares of JM Smucker in the 1st quarter worth approximately $35,000. Finally, Principal Securities Inc. purchased a new stake in shares of JM Smucker in the fourth quarter valued at approximately $43,000. 81.66% of the shares are currently owned by institutional investors and hedge funds.

Analysts set new price targets

Several brokerages have issued reports on SJM. StockNews.com lowered shares of JM Smucker from a “hold” rating to a “sell” rating in a research note on Wednesday. Barclays decreased their price objective on shares of JM Smucker from $132.00 to $123.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. Argus cut their price target on JM Smucker from $150.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, June 13th. TD Cowen cut their price target on JM Smucker from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Finally, Citigroup decreased their price target on shares of JM Smucker from $139.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $132.57, according to MarketBeat.com.

Read our latest research report on SJM

Indoor activity

In other news, CEO Mark T. Smucker sold 10,000 shares of JM Smucker stock in a transaction on Friday, June 21st. The shares were sold at an average price of $110.16, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. Corporate insiders own 3.40% of the company’s shares.

JM Smucker’s stock fell 0.5%

NYSE SJM opened at $120.98 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.52, and a quick ratio of 0.25. The company has a market cap of $12.85 billion, a P/E ratio of 16.99, a PEG ratio of 2.38 and a beta of 0.25. JM Smucker Company has a 12-month low of $105.69 and a 12-month high of $147.48. The company’s 50-day simple moving average is $114.82, and its 200-day simple moving average is $117.16.

JM Smucker (NYSE:SJM – Get Your Free Report ) last announced its earnings results on Thursday, June 6th. The company reported $2.66 EPS for the quarter, beating the consensus estimate of $2.32 by $0.34. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.24 billion. JM Smucker had a return on equity of 14.15% and a net margin of 9.10%. JM Smucker’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $2.64. equities research analysts expect that The JM Smucker Company will post 10.05 earnings per share for the current fiscal year.

JM Smucker Raises Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be paid a dividend of $1.08 per share. This represents an annualized dividend of $4.32 and a yield of 3.57%. This is an increase from JM Smucker’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Friday, August 16. JM Smucker’s payout ratio is currently 60.67%.

About JM Smucker

(Free Report)

The JM Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in three segments: US Retail Pet Foods, US Retail Coffee and US Retail Consumer Foods. The company offers roasted, ground, single serve and premium coffee; peanut butter and specialty spreads; fruit spreads, toppings and syrups; jelly products; mixed nut products; shortening and oils; Frozen sandwiches and snacks; pet food and pet snacks; and hot beverages for foodservice, portion control for foodservice and flour products, as well as dog and cat food, portable frozen products, juices and beverages, and baking mixes and ingredients.

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