Palouse Capital Management Inc. Buys 4,081 Shares of J M Smucker Co (SJM)

Palouse Capital Management Inc. boosted its position in shares of J M Smucker Co (NYSE:SJM) by 7.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 61,304 shares of the company’s stock after acquiring an additional 4,081 shares during the quarter. J M Smucker comprises about 2.2% of Palouse Capital Management Inc.’s portfolio, making the stock its 8th largest position. Palouse Capital Management Inc. owned about 0.05% of J M Smucker worth $6,589,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SJM. PNC Financial Services Group Inc. lifted its position in J M Smucker by 290.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 963,047 shares of the company’s stock worth $119,426,000 after acquiring an additional 716,707 shares during the period. BlackRock Inc. lifted its position in J M Smucker by 8.2% during the 1st quarter. BlackRock Inc. now owns 8,968,227 shares of the company’s stock worth $1,112,150,000 after acquiring an additional 680,394 shares during the period. Prudential Financial Inc. lifted its position in J M Smucker by 246.9% during the 1st quarter. Prudential Financial Inc. now owns 787,547 shares of the company’s stock worth $97,664,000 after acquiring an additional 560,502 shares during the period. Unigestion Holding SA acquired a new stake in J M Smucker during the 2nd quarter worth about $58,578,000. Finally, Massachusetts Financial Services Co. MA lifted its position in J M Smucker by 16.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,897,699 shares of the company’s stock worth $483,354,000 after acquiring an additional 540,638 shares during the period. 79.64% of the stock is owned by institutional investors.

A number of brokerages have commented on SJM. ValuEngine raised J M Smucker from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 27th. Credit Suisse Group lifted their price objective on J M Smucker from $90.00 to $95.00 and gave the company an “underperform” rating in a research note on Wednesday, June 27th. Zacks Investment Research lowered J M Smucker from a “hold” rating to a “strong sell” rating in a research note on Friday, July 6th. Deutsche Bank set a $97.00 price objective on J M Smucker and gave the company a “hold” rating in a research note on Friday, June 8th. Finally, Barclays reiterated a “hold” rating on shares of J M Smucker in a research note on Monday, June 11th. Six research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $121.83.

In other news, SVP Jill R. Penrose sold 518 shares of the business’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $106.27, for a total transaction of $55,047.86. Following the transaction, the senior vice president now directly owns 10,537 shares in the company, valued at approximately $1,119,766.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Joseph Stanziano sold 970 shares of the business’s stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $105.00, for a total value of $101,850.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,342 shares of company stock worth $2,187,461. Insiders own 3.92% of the company’s stock.

NYSE:SJM traded up $0.13 during trading hours on Friday, hitting $110.83. 803,111 shares of the stock were exchanged, compared to its average volume of 1,064,228. J M Smucker Co has a 52-week low of $96.13 and a 52-week high of $133.38. The company has a current ratio of 1.50, a quick ratio of 0.68 and a debt-to-equity ratio of 0.59. The firm has a market cap of $12.57 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 1.76 and a beta of 0.58.

J M Smucker (NYSE:SJM) last posted its quarterly earnings data on Thursday, June 7th. The company reported $1.93 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.18 by ($0.25). The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.80 billion. J M Smucker had a return on equity of 12.20% and a net margin of 18.19%. J M Smucker’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $1.80 earnings per share. research analysts forecast that J M Smucker Co will post 8.41 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Friday, August 17th will be issued a dividend of $0.85 per share. This is a boost from J M Smucker’s previous quarterly dividend of $0.78. This represents a $3.40 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Thursday, August 16th. J M Smucker’s payout ratio is currently 39.20%.

J M Smucker Company Profile

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company primarily offers coffee, pet food and pet snacks, peanut butter, fruit spreads, shortening and oils, baking mixes and ready-to-spread frostings, frozen sandwiches, flour and baking ingredients, juices and beverages, and portion control products.

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

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