Peapack Gladstone Financial Corp Decreases Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Peapack Gladstone Financial Corp reduced its holdings in The J. M. Smucker Company (NYSE:SJM) by 16.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,665 shares of the company’s stock after selling 706 shares during the period. Peapack Gladstone Financial Corp’s holdings in J. M. Smucker were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Capital Advisors Ltd. LLC lifted its holdings in shares of J. M. Smucker by 188.8% in the 4th quarter. Capital Advisors Ltd. LLC now owns 231 shares of the company’s stock worth $25,000 after buying an additional 151 shares during the period. Kentucky Trust Co purchased a new position in J. M. Smucker during the 4th quarter valued at about $28,000. Kieckhefer Group LLC bought a new stake in shares of J. M. Smucker in the 4th quarter valued at about $33,000. Hantz Financial Services Inc. purchased a new stake in J. M. Smucker during the fourth quarter worth $39,000. Finally, Sandy Spring Bank boosted its position in J. M. Smucker by 1,365.5% during the 4th quarter. Sandy Spring Bank now owns 425 shares of the company’s stock valued at $47,000 after acquiring an additional 396 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Friday, March 28th. Barclays decreased their price target on J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Stifel Nicolaus cut their price objective on shares of J. M. Smucker from $125.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, January 24th. TD Cowen cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and lowered their target price for the stock from $130.00 to $121.00 in a research note on Wednesday, January 8th. Finally, DA Davidson cut their price target on shares of J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $125.67.

J. M. Smucker Stock Up 4.5 %

J. M. Smucker stock opened at $115.18 on Thursday. The stock’s 50 day moving average price is $110.30 and its 200 day moving average price is $111.96. The company has a market cap of $12.26 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 3.91 and a beta of 0.35. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27. The J. M. Smucker Company has a 1-year low of $98.77 and a 1-year high of $125.42.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Thursday, February 27th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.24. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.23 billion. On average, sell-side analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Friday, February 14th. J. M. Smucker’s dividend payout ratio is currently -179.25%.

Insider Transactions at J. M. Smucker

In related news, insider Jill R. Penrose sold 5,117 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $116.26, for a total value of $594,902.42. Following the completion of the sale, the insider now owns 8,794 shares of the company’s stock, valued at $1,022,390.44. This represents a 36.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Tucker H. Marshall sold 5,028 shares of J. M. Smucker stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $113.36, for a total value of $569,974.08. Following the transaction, the chief financial officer now owns 13,263 shares in the company, valued at approximately $1,503,493.68. This trade represents a 27.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

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.