Edge Capital Group LLC Raises Stake in J M Smucker Co (NYSE:SJM)

Edge Capital Group LLC increased its holdings in J M Smucker Co (NYSE:SJM) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,034 shares of the company’s stock after purchasing an additional 507 shares during the period. Edge Capital Group LLC’s holdings in J M Smucker were worth $6,570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. LSV Asset Management increased its position in J M Smucker by 51.7% in the first quarter. LSV Asset Management now owns 3,823,806 shares of the company’s stock worth $445,473,000 after purchasing an additional 1,303,090 shares during the last quarter. Dimensional Fund Advisors LP increased its position in J M Smucker by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,792,424 shares of the company’s stock valued at $167,581,000 after acquiring an additional 13,573 shares during the last quarter. Geode Capital Management LLC increased its position in J M Smucker by 12.1% during the fourth quarter. Geode Capital Management LLC now owns 1,582,207 shares of the company’s stock valued at $147,679,000 after acquiring an additional 171,185 shares during the last quarter. Coho Partners Ltd. increased its position in J M Smucker by 8.9% during the first quarter. Coho Partners Ltd. now owns 1,519,092 shares of the company’s stock valued at $176,974,000 after acquiring an additional 124,507 shares during the last quarter. Finally, Northern Trust Corp increased its position in J M Smucker by 1.8% during the first quarter. Northern Trust Corp now owns 1,480,323 shares of the company’s stock valued at $172,457,000 after acquiring an additional 26,589 shares during the last quarter. Institutional investors own 77.46% of the company’s stock.

A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of J M Smucker from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. ValuEngine cut shares of J M Smucker from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Credit Suisse Group cut their price objective on shares of J M Smucker from $120.00 to $114.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Morgan Stanley boosted their price objective on shares of J M Smucker from $117.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, June 7th. Finally, Wells Fargo & Co boosted their price objective on shares of J M Smucker from $110.00 to $114.00 and gave the company a “market perform” rating in a research report on Friday, June 7th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. J M Smucker has a consensus rating of “Hold” and a consensus target price of $115.44.

In other news, insider Joseph Stanziano sold 319 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $119.20, for a total transaction of $38,024.80. Following the completion of the sale, the insider now directly owns 14,857 shares of the company’s stock, valued at $1,770,954.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark T. Smucker sold 2,200 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $113.28, for a total transaction of $249,216.00. Following the sale, the chief executive officer now directly owns 140,975 shares of the company’s stock, valued at $15,969,648. The disclosure for this sale can be found here. Insiders have sold 3,269 shares of company stock valued at $372,201 over the last three months. Insiders own 3.70% of the company’s stock.

SJM stock opened at $110.37 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.69 and a quick ratio of 0.31. J M Smucker Co has a twelve month low of $91.32 and a twelve month high of $128.43. The company has a market capitalization of $12.59 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 3.27 and a beta of 0.42. The company’s fifty day moving average price is $116.30.

J M Smucker (NYSE:SJM) last issued its earnings results on Thursday, June 6th. The company reported $2.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.11. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. J M Smucker had a net margin of 6.56% and a return on equity of 11.80%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.93 earnings per share. Equities research analysts forecast that J M Smucker Co will post 8.52 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be paid a dividend of $0.88 per share. This is a positive change from J M Smucker’s previous quarterly dividend of $0.85. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Thursday, August 15th. J M Smucker’s payout ratio is currently 41.01%.

About J M Smucker

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.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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

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