Mission Wealth Management LP Sells 100 Shares of J M Smucker Co (NYSE:SJM)

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Mission Wealth Management LP lowered its stake in shares of J M Smucker Co (NYSE:SJM) by 4.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,960 shares of the company’s stock after selling 100 shares during the quarter. Mission Wealth Management LP’s holdings in J M Smucker were worth $216,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Nuveen Asset Management LLC increased its stake in shares of J M Smucker by 22,638.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 590,961 shares of the company’s stock valued at $68,073,000 after acquiring an additional 588,362 shares during the last quarter. LSV Asset Management increased its stake in shares of J M Smucker by 10.5% in the 2nd quarter. LSV Asset Management now owns 4,223,812 shares of the company’s stock valued at $486,540,000 after acquiring an additional 400,006 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of J M Smucker by 72.1% in the 2nd quarter. Prudential Financial Inc. now owns 714,298 shares of the company’s stock valued at $82,280,000 after acquiring an additional 299,231 shares during the last quarter. BlackRock Inc. increased its stake in shares of J M Smucker by 2.7% in the 2nd quarter. BlackRock Inc. now owns 9,934,921 shares of the company’s stock valued at $1,144,403,000 after acquiring an additional 258,305 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of J M Smucker by 100.3% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 382,750 shares of the company’s stock valued at $44,089,000 after acquiring an additional 191,644 shares during the last quarter. 77.32% of the stock is currently owned by institutional investors and hedge funds.

SJM has been the subject of a number of recent analyst reports. Citigroup lowered their price target on J M Smucker from $142.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Stifel Nicolaus lowered their target price on J M Smucker from $120.00 to $110.00 and set a “hold” rating for the company in a research note on Wednesday, August 28th. TheStreet cut J M Smucker from a “b-” rating to a “c+” rating in a research note on Tuesday, August 6th. ValuEngine raised J M Smucker from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and set a $107.00 price target (down previously from $114.00) on shares of J M Smucker in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $116.70.

SJM traded down $0.86 during trading hours on Friday, reaching $106.27. The company’s stock had a trading volume of 555,266 shares, compared to its average volume of 913,578. J M Smucker Co has a 52 week low of $91.32 and a 52 week high of $128.43. The company’s 50-day moving average is $107.48 and its 200-day moving average is $114.83. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.26 and a current ratio of 0.70. The firm has a market cap of $12.22 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 3.46 and a beta of 0.41.

J M Smucker (NYSE:SJM) last posted its quarterly earnings data on Tuesday, August 27th. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.17). J M Smucker had a return on equity of 11.49% and a net margin of 6.95%. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the business earned $1.78 EPS. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. Equities analysts anticipate that J M Smucker Co will post 8.36 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, November 14th. J M Smucker’s dividend payout ratio (DPR) is presently 42.46%.

In related news, CFO Mark R. Belgya sold 750 shares of J M Smucker stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $110.00, for a total value of $82,500.00. Following the transaction, the chief financial officer now directly owns 53,442 shares of the company’s stock, valued at $5,878,620. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Geoff E. Tanner acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was bought at an average cost of $103.42 per share, for a total transaction of $103,420.00. Following the completion of the purchase, the senior vice president now owns 14,063 shares of the company’s stock, valued at $1,454,395.46. The disclosure for this purchase can be found here. Insiders sold 1,987 shares of company stock worth $220,599 over the last ninety days. 3.70% of the stock is currently owned by insiders.

J M Smucker Company Profile

The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.

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Institutional Ownership by Quarter for J M Smucker (NYSE:SJM)

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