Summit Financial LLC Buys New Shares in The J. M. Smucker Company (NYSE:SJM)

Summit Financial LLC purchased a new position in shares of The J. M. Smucker Company (NYSE:SJM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,625 shares of the company’s stock, valued at approximately $205,000.

Several other large investors have also added to or reduced their stakes in the company. Wolverine Asset Management LLC increased its holdings in J. M. Smucker by 300.0% in the 4th quarter. Wolverine Asset Management LLC now owns 200 shares of the company’s stock worth $25,000 after buying an additional 150 shares during the period. Valley National Advisers Inc. increased its stake in shares of J. M. Smucker by 2,266.7% in the fourth quarter. Valley National Advisers Inc. now owns 284 shares of the company’s stock worth $35,000 after acquiring an additional 272 shares during the period. Lindbrook Capital LLC raised its holdings in shares of J. M. Smucker by 77.1% during the fourth quarter. Lindbrook Capital LLC now owns 409 shares of the company’s stock worth $52,000 after purchasing an additional 178 shares during the last quarter. Planned Solutions Inc. acquired a new stake in J. M. Smucker during the 4th quarter worth about $59,000. Finally, Oliver Lagore Vanvalin Investment Group grew its position in J. M. Smucker by 23.2% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 531 shares of the company’s stock worth $65,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Insider Activity at J. M. Smucker

In other J. M. Smucker news, insider Jeannette L. Knudsen sold 3,200 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $124.77, for a total value of $399,264.00. Following the transaction, the insider now directly owns 8,946 shares in the company, valued at approximately $1,116,192.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on SJM shares. Barclays upped their target price on J. M. Smucker from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Citigroup cut their target price on shares of J. M. Smucker from $153.00 to $152.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. DA Davidson began coverage on shares of J. M. Smucker in a report on Friday, March 1st. They set a “neutral” rating and a $132.00 price target on the stock. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of J. M. Smucker from $126.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $137.47.

J. M. Smucker Price Performance

J. M. Smucker stock opened at $113.11 on Friday. The company has a fifty day simple moving average of $118.96 and a 200-day simple moving average of $120.62. The company has a quick ratio of 0.38, a current ratio of 0.78 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of -128.53, a PEG ratio of 1.69 and a beta of 0.23. The J. M. Smucker Company has a 52-week low of $107.33 and a 52-week high of $159.45.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Tuesday, February 27th. The company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.21. J. M. Smucker had a positive return on equity of 14.29% and a negative net margin of 1.24%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the previous year, the firm posted $2.21 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities analysts anticipate that The J. M. Smucker Company will post 9.6 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be issued a dividend of $1.06 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.24 annualized dividend and a dividend yield of 3.75%. J. M. Smucker’s dividend payout ratio is presently -481.81%.

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.