Miracle Mile Advisors LLC Makes New $1.27 Million Investment in The J. M. Smucker Company (NYSE:SJM)

Miracle Mile Advisors LLC acquired a new position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,564 shares of the company's stock, valued at approximately $1,273,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Venturi Wealth Management LLC boosted its stake in J. M. Smucker by 1,329.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company's stock worth $29,000 after purchasing an additional 226 shares during the period. Kieckhefer Group LLC acquired a new stake in shares of J. M. Smucker during the fourth quarter worth about $33,000. Quarry LP boosted its stake in shares of J. M. Smucker by 212.6% during the second quarter. Quarry LP now owns 322 shares of the company's stock worth $35,000 after buying an additional 219 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of J. M. Smucker during the third quarter worth about $39,000. Finally, Eastern Bank acquired a new position in J. M. Smucker in the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 81.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SJM. Wells Fargo & Company increased their price objective on J. M. Smucker from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. StockNews.com raised J. M. Smucker from a "sell" rating to a "hold" rating in a report on Monday, September 30th. Stifel Nicolaus cut shares of J. M. Smucker from a "buy" rating to a "hold" rating and dropped their price objective for the company from $135.00 to $125.00 in a research note on Friday, October 25th. TD Cowen cut shares of J. M. Smucker from a "buy" rating to a "hold" rating and reduced their target price for the stock from $130.00 to $121.00 in a research note on Wednesday, January 8th. Finally, Barclays lowered their target price on shares of J. M. Smucker from $126.00 to $123.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $127.33.

Insider Activity

In related news, CFO Tucker H. Marshall sold 994 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $113.00, for a total value of $112,322.00. Following the sale, the chief financial officer now directly owns 18,734 shares of the company's stock, valued at approximately $2,116,942. This represents a 5.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.40% of the company's stock.

J. M. Smucker Price Performance

Shares of SJM traded down $1.38 during trading hours on Wednesday, reaching $100.53. The company had a trading volume of 1,235,227 shares, compared to its average volume of 1,069,066. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 3.46 and a beta of 0.28. The J. M. Smucker Company has a 12-month low of $100.31 and a 12-month high of $134.62. The firm has a 50 day simple moving average of $112.13 and a 200-day simple moving average of $115.64. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.51 by $0.25. The company had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The firm's quarterly revenue was up 17.2% compared to the same quarter last year. During the same period last year, the company posted $2.59 earnings per share. Research analysts expect that The J. M. Smucker Company will post 9.89 earnings per share for the current year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a yield of 4.30%. J. M. Smucker's payout ratio is 87.45%.

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.