Naples Global Advisors LLC Sells 670 Shares of The J. M. Smucker Company (NYSE:SJM)

Naples Global Advisors LLC lessened its stake in The J. M. Smucker Company (NYSE:SJM) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,282 shares of the company’s stock after selling 670 shares during the period. Naples Global Advisors LLC’s holdings in J. M. Smucker were worth $1,012,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SJM. Wolverine Asset Management LLC grew its position 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 purchasing an additional 150 shares during the period. Advantage Trust Co bought a new stake in shares of J. M. Smucker during the 4th quarter valued at $25,000. Cooksen Wealth LLC bought a new stake in shares of J. M. Smucker during the 4th quarter valued at $33,000. Venturi Wealth Management LLC bought a new stake in shares of J. M. Smucker during the 1st quarter valued at $35,000. Finally, Principal Securities Inc. bought a new stake in shares of J. M. Smucker during the 4th quarter valued at $43,000. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. TD Cowen cut their price objective on shares of J. M. Smucker from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, June 7th. DA Davidson lowered 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 note on Monday, June 10th. Argus lowered their target price 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. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Citigroup lifted their target price on shares of J. M. Smucker from $137.00 to $139.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, J. M. Smucker has a consensus rating of “Hold” and a consensus price target of $132.64.

Insider Activity at J. M. Smucker

In related news, CEO Mark T. Smucker sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 78,757 shares in the company, valued at approximately $8,675,871.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.40% of the stock is currently owned by insiders.

J. M. Smucker Price Performance

Shares of J. M. Smucker stock traded up $0.40 during trading hours on Friday, reaching $118.81. The company’s stock had a trading volume of 929,352 shares, compared to its average volume of 1,237,490. The firm has a 50 day moving average price of $114.42 and a 200-day moving average price of $117.62. The J. M. Smucker Company has a one year low of $105.69 and a one year 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 stock has a market cap of $12.62 billion, a P/E ratio of 16.69, a P/E/G ratio of 2.39 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Thursday, June 6th. The company reported $2.66 earnings per share for the quarter, topping 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 firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the firm posted $2.64 EPS. The business’s quarterly revenue was down 1.3% on a year-over-year basis. On average, 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 issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.64%. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Friday, August 16th. J. M. Smucker’s dividend payout ratio is presently 60.67%.

About J. M. Smucker

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.