Palumbo Wealth Management LLC Sells 2,675 Shares of The J. M. Smucker Company (NYSE:SJM)

Palumbo Wealth Management LLC lessened its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 19.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,420 shares of the company's stock after selling 2,675 shares during the period. Palumbo Wealth Management LLC's holdings in J. M. Smucker were worth $1,258,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Kentucky Trust Co acquired a new stake in J. M. Smucker in the fourth quarter valued at approximately $28,000. Venturi Wealth Management LLC grew its position in J. M. Smucker by 1,329.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company's stock valued at $29,000 after purchasing an additional 226 shares during the period. Kieckhefer Group LLC bought a new stake in J. M. Smucker during the 4th quarter valued at $33,000. Catalyst Capital Advisors LLC acquired a new position in J. M. Smucker during the third quarter worth $39,000. Finally, Hantz Financial Services Inc. bought a new position in shares of J. M. Smucker in the fourth quarter valued at $39,000. 81.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. TD Cowen lowered shares of J. M. Smucker from a "buy" rating to a "hold" rating and lowered their target price for the stock from $130.00 to $121.00 in a report on Wednesday, January 8th. Barclays lowered their price objective on J. M. Smucker from $126.00 to $123.00 and set an "equal weight" rating for the company in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their target price on J. M. Smucker from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, November 27th. Finally, Stifel Nicolaus lowered their price target on J. M. Smucker from $125.00 to $120.00 and set a "hold" rating for the company in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, J. M. Smucker has an average rating of "Hold" and a consensus target price of $126.78.

J. M. Smucker Stock Performance

Shares of NYSE:SJM traded up $2.47 during midday trading on Wednesday, reaching $102.88. The company had a trading volume of 1,682,678 shares, compared to its average volume of 1,069,546. The stock has a market cap of $10.95 billion, a P/E ratio of 20.83, a P/E/G ratio of 3.29 and a beta of 0.27. The company's 50 day moving average price is $106.45 and its 200 day moving average price is $113.59. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89. The J. M. Smucker Company has a 52-week low of $98.77 and a 52-week high of $127.59.

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

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend is Friday, February 14th. J. M. Smucker's dividend payout ratio (DPR) is currently 87.45%.

Insider Activity at J. M. Smucker

In other J. M. Smucker 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 transaction of $112,322.00. Following the completion of the transaction, the chief financial officer now owns 18,734 shares in the company, valued at $2,116,942. This trade represents a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.40% of the stock is currently owned by company insiders.

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.