Traders Sell J.M. Smucker Co. (SJM) on Strength (SJM)
Traders sold shares of J.M. Smucker Co. (NYSE:SJM) on strength during trading on Friday. $35.67 million flowed into the stock on the tick-up and $54.73 million flowed out of the stock on the tick-down, for a money net flow of $19.06 million out of the stock. Of all equities tracked, J.M. Smucker had the 0th highest net out-flow for the day. J.M. Smucker traded up $0.24 for the day and closed at $154.61
Several analysts have commented on SJM shares. Credit Suisse Group AG reiterated a “buy” rating and set a $158.00 target price (up from $156.00) on shares of J.M. Smucker in a research note on Friday, June 10th. Stephens reiterated a “buy” rating on shares of J.M. Smucker in a research note on Monday, June 13th. Jefferies Group downgraded J.M. Smucker from a “buy” rating to a “hold” rating and increased 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 started coverage on J.M. Smucker in a research note on Wednesday, May 25th. They set a “sector weight” rating on the stock. Finally, Deutsche Bank AG reiterated a “buy” rating and set 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 given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $148.10.
The stock has a 50 day moving average price of $153.21 and a 200 day moving average price of $136.57. The firm has a market capitalization of $18.00 billion and a price-to-earnings ratio of 26.84.
J.M. Smucker (NYSE:SJM) last released its quarterly earnings results on Thursday, June 9th. The company reported $1.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.67. The firm earned $1.81 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. J.M. Smucker’s revenue for the quarter was up 24.9% compared to the same quarter last year. Equities research analysts expect that J.M. Smucker Co. will post $7.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 12th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.94%. 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 J.M. Smucker news, Director David J. West sold 865 shares of J.M. Smucker stock in a transaction 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 directly owns 206,790 shares of the company’s stock, valued at $30,118,963.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vincent C. Byrd sold 14,512 shares of J.M. Smucker stock in a transaction on Monday, June 13th. The stock was sold at an average price of $144.55, for a total transaction of $2,097,709.60. Following the completion of the transaction, the director now directly owns 69,670 shares in the company, valued at $10,070,798.50. The disclosure for this sale can be found here.
A number of institutional investors have recently added to or reduced their stakes in the company. I.G. Investment Management LTD. raised its position in J.M. Smucker by 6.0% in the fourth quarter. I.G. Investment Management LTD. now owns 251,000 shares of the company’s stock valued at $30,958,000 after buying an additional 14,300 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of J.M. Smucker by 166.9% in the fourth quarter. Advisors Asset Management Inc. now owns 18,926 shares of the company’s stock worth $2,334,000 after buying an additional 11,836 shares during the period. Nicholas Co. Inc. WI bought a new stake in shares of J.M. Smucker during the fourth quarter worth $7,096,000. Principal Financial Group Inc. raised its stake in shares of J.M. Smucker by 19.7% in the fourth quarter. Principal Financial Group Inc. now owns 180,219 shares of the company’s stock worth $22,229,000 after buying an additional 29,605 shares during the period. Finally, Utah Retirement Systems raised its stake in shares of J.M. Smucker by 0.5% in the fourth quarter. Utah Retirement Systems now owns 21,515 shares of the company’s stock worth $2,654,000 after buying an additional 100 shares during the period.
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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