Swedbank AB Purchases 15,792 Shares of The J. M. Smucker Company (NYSE:SJM)

Swedbank AB increased its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 14.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,618 shares of the company's stock after buying an additional 15,792 shares during the period. Swedbank AB owned about 0.12% of J. M. Smucker worth $13,915,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mcdonald Partners LLC lifted its holdings in shares of J. M. Smucker by 42.0% in the second quarter. Mcdonald Partners LLC now owns 41,350 shares of the company's stock valued at $4,509,000 after purchasing an additional 12,235 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new stake in shares of J. M. Smucker in the second quarter valued at about $159,000. Welch Group LLC lifted its holdings in shares of J. M. Smucker by 164.6% in the second quarter. Welch Group LLC now owns 7,073 shares of the company's stock valued at $771,000 after purchasing an additional 4,400 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of J. M. Smucker by 20.4% in the second quarter. V Square Quantitative Management LLC now owns 3,388 shares of the company's stock valued at $369,000 after purchasing an additional 575 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of J. M. Smucker by 6.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,522 shares of the company's stock valued at $1,802,000 after purchasing an additional 1,056 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on SJM shares. Barclays reduced their price target on shares of J. M. Smucker from $132.00 to $123.00 and set an "equal weight" rating on the stock in a report on Monday, June 10th. TD Cowen reduced their price target on shares of J. M. Smucker from $140.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, June 7th. Citigroup upped their price target on shares of J. M. Smucker from $137.00 to $139.00 and gave the company a "buy" rating in a report on Friday, June 7th. Argus reduced their price objective on shares of J. M. Smucker from $150.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, June 13th. Finally, DA Davidson decreased their target price on shares of J. M. Smucker from $132.00 to $126.00 and set a "neutral" rating on the stock in a research report on Monday, June 10th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, J. M. Smucker presently has an average rating of "Hold" and an average target price of $132.64.

J. M. Smucker Trading Up 0.3 %

NYSE:SJM traded up $0.40 during trading hours on Friday, reaching $118.81. 929,352 shares of the company were exchanged, compared to its average volume of 1,237,490. The stock has a 50 day simple moving average of $114.50 and a 200 day simple moving average of $117.53. The J. M. Smucker Company has a 52-week low of $105.69 and a 52-week high of $147.48. 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 firm has a market cap of $12.62 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 2.39 and a beta of 0.25.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its earnings results on Thursday, June 6th. The company reported $2.66 EPS for the quarter, beating analysts' consensus estimates of $2.32 by $0.34. J. M. Smucker had a net margin of 9.10% and a return on equity of 14.15%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the firm posted $2.64 EPS. The business's revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, analysts predict 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. Investors of record on Friday, August 16th will be 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 is Friday, August 16th. This represents a $4.32 annualized dividend and a yield of 3.64%. J. M. Smucker's payout ratio is 60.67%.

Insider Buying and Selling

In other J. M. Smucker news, CEO Mark T. Smucker sold 10,000 shares of the firm's 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 completion of the transaction, the chief executive officer now directly owns 78,757 shares of the company's stock, valued at approximately $8,675,871.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.40% of the stock is currently owned by insiders.

J. M. Smucker Company 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.