Somerset Trust Co Acquires New Position in The J. M. Smucker Company (NYSE:SJM)

Somerset Trust Co bought a new position in shares of The J. M. Smucker Company (NYSE:SJM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,009 shares of the company’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its stake in shares of J. M. Smucker by 1,329.4% in the third quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after acquiring an additional 226 shares in the last quarter. Kieckhefer Group LLC purchased a new stake in J. M. Smucker during the 4th quarter worth about $33,000. Quarry LP increased its holdings in J. M. Smucker by 212.6% during the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after purchasing an additional 219 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in J. M. Smucker in the 3rd quarter valued at about $39,000. Finally, Eastern Bank purchased a new position in shares of J. M. Smucker in the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Insider Buying and Selling at J. M. Smucker

In other J. M. Smucker news, CFO Tucker H. Marshall sold 994 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $113.00, for a total transaction of $112,322.00. Following the completion of the sale, the chief financial officer now directly owns 18,734 shares of the company’s stock, valued at approximately $2,116,942. This trade represents a 5.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.40% of the stock is currently owned by company insiders.

J. M. Smucker Stock Down 0.4 %

SJM opened at $102.16 on Friday. The stock has a market capitalization of $10.87 billion, a P/E ratio of 20.68, a price-to-earnings-growth ratio of 3.08 and a beta of 0.28. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58. The J. M. Smucker Company has a one year low of $99.81 and a one year high of $134.62. The business’s 50-day simple moving average is $111.31 and its 200-day simple moving average is $115.38.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.27 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.59 earnings per share. Analysts anticipate that The J. M. Smucker Company will post 9.89 EPS for the current year.

J. M. Smucker Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend was Friday, November 15th. J. M. Smucker’s payout ratio is currently 87.45%.

Analyst Upgrades and Downgrades

SJM has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of J. M. Smucker from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. TD Cowen lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and reduced their price objective for the company from $130.00 to $121.00 in a report on Wednesday, January 8th. Barclays lowered their target price on shares of J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 4th. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Stifel Nicolaus cut J. M. Smucker from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $135.00 to $125.00 in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $127.33.

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.