Raymond James Financial Inc. Acquires New Shares in The J. M. Smucker Company (NYSE:SJM)

Raymond James Financial Inc. bought a new stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 299,563 shares of the company's stock, valued at approximately $32,988,000. Raymond James Financial Inc. owned 0.28% of J. M. Smucker as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital Advisors Ltd. LLC boosted its position in shares of J. M. Smucker by 188.8% in the fourth quarter. Capital Advisors Ltd. LLC now owns 231 shares of the company's stock valued at $25,000 after acquiring an additional 151 shares during the period. Kentucky Trust Co acquired a new position in J. M. Smucker during the 4th quarter valued at $28,000. Venturi Wealth Management LLC boosted its holdings 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 acquired a new stake in J. M. Smucker in the 4th quarter worth $33,000. Finally, Hantz Financial Services Inc. bought a new position in shares of J. M. Smucker during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 81.66% of the company's stock.

J. M. Smucker Price Performance

NYSE SJM traded up $0.33 during trading hours on Monday, reaching $111.89. 1,209,954 shares of the company's stock were exchanged, compared to its average volume of 1,119,818. The firm has a fifty day moving average of $106.53 and a 200-day moving average of $112.58. 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 one year low of $98.77 and a one year high of $127.59. The stock has a market cap of $11.91 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 3.91 and a beta of 0.28.

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J. M. Smucker (NYSE:SJM - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.37 by $0.24. The company had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.23 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. On average, equities research analysts predict that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $1.08 per share. The ex-dividend date was Friday, February 14th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.86%. J. M. Smucker's payout ratio is -179.25%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus decreased their target price on J. M. Smucker from $125.00 to $120.00 and set a "hold" rating on the stock in a research report on Friday, January 24th. TD Cowen lowered J. M. Smucker from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $130.00 to $121.00 in a report on Wednesday, January 8th. Wells Fargo & Company upped their target price on J. M. Smucker from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday, November 27th. StockNews.com raised J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Tuesday, March 11th. Finally, Barclays lowered their price target on shares of J. M. Smucker from $123.00 to $119.00 and set an "equal weight" rating on the stock in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $126.00.

Insider Activity

In other J. M. Smucker news, CFO Tucker H. Marshall sold 5,028 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $113.36, for a total value of $569,974.08. Following the transaction, the chief financial officer now directly owns 13,263 shares of the company's stock, valued at approximately $1,503,493.68. This trade represents a 27.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.40% of the stock is owned by 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.