Investors Sell Shares of J.M. Smucker Co. (SJM) on Strength (SJM)
Investors sold shares of J.M. Smucker Co. (NYSE:SJM) on strength during trading on Wednesday. $12.30 million flowed into the stock on the tick-up and $34.20 million flowed out of the stock on the tick-down, for a money net flow of $21.90 million out of the stock. Of all stocks tracked, J.M. Smucker had the 20th highest net out-flow for the day. J.M. Smucker traded up $0.85 for the day and closed at $153.99
SJM has been the subject of several analyst reports. Credit Suisse Group AG restated a “buy” rating and issued a $158.00 target price (up from $156.00) on shares of J.M. Smucker in a research note on Friday, June 10th. Stephens restated a “buy” rating on shares of J.M. Smucker in a research note on Monday, June 13th. Jefferies Group downgraded shares of J.M. Smucker from a “buy” rating to a “hold” rating and upped their target price for the company from $140.00 to $143.00 in a research note on Friday, June 10th. They noted that the move was a valuation call. KeyCorp initiated coverage on shares of J.M. Smucker in a research note on Wednesday, May 25th. They issued a “sector weight” rating for the company. Finally, Deutsche Bank AG restated a “buy” rating and issued a $152.00 target price (up from $143.00) on shares of J.M. Smucker in a research note on Friday, June 10th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. J.M. Smucker presently has a consensus rating of “Hold” and a consensus price target of $146.80.
The firm has a 50 day moving average price of $152.15 and a 200-day moving average price of $135.26. The stock has a market cap of $17.93 billion and a price-to-earnings ratio of 26.73.
J.M. Smucker (NYSE:SJM) last released its quarterly earnings results on Thursday, June 9th. The company reported $1.86 EPS for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.67. During the same period in the prior year, the business earned $0.98 EPS. The firm earned $1.81 billion during the quarter, compared to the consensus estimate of $1.75 billion. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. Equities analysts expect that J.M. Smucker Co. will post $7.70 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 12th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.95%. This is a boost from J.M. Smucker’s previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, August 10th.
In other news, Director David J. West sold 865 shares of J.M. Smucker stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $145.65, for a total value of $125,987.25. Following the transaction, the director now owns 206,790 shares of the company’s stock, valued at $30,118,963.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Jill R. Penrose sold 519 shares of J.M. Smucker stock in a transaction that occurred on Wednesday, June 22nd. The shares were sold at an average price of $146.96, for a total transaction of $76,272.24. Following the completion of the transaction, the senior vice president now directly owns 7,636 shares in the company, valued at approximately $1,122,186.56. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in the stock. RS Investment Management Co. LLC purchased a new position in J.M. Smucker during the fourth quarter worth approximately $22,730,000. Stack Financial Management Inc bought a new stake in shares of J.M. Smucker during the fourth quarter valued at about $12,365,000. Jennison Associates LLC increased its stake in shares of J.M. Smucker by 4.6% in the fourth quarter. Jennison Associates LLC now owns 1,683,080 shares of the company’s stock valued at $207,591,000 after buying an additional 74,477 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of J.M. Smucker by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,253,151 shares of the company’s stock valued at $154,570,000 after buying an additional 72,469 shares during the last quarter. Finally, WBI Investments Inc. bought a new stake in shares of J.M. Smucker during the fourth quarter valued at about $8,234,000.
The J. M. Smucker Company is a manufacturer and marketer of consumer food and beverage products and pet food and pet snacks in North America. The Company has four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International, Foodservice and Natural Foods. The Company’s U.S.
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