J.M. Smucker Co. (SJM) Stock Price Up 0.9%
J.M. Smucker Co. (NYSE:SJM)’s share price rose 0.9% during mid-day trading on Wednesday . The company traded as high as $141.20 and last traded at $141.04, with a volume of 579,145 shares. The stock had previously closed at $139.76.
SJM has been the topic of a number of research reports. KeyCorp initiated coverage on shares of J.M. Smucker in a report on Wednesday, May 25th. They issued a “sector weight” rating on the stock. Morgan Stanley raised their price objective on shares of J.M. Smucker from $128.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday, June 3rd. Deutsche Bank AG reaffirmed a “buy” rating and set a $143.00 price target (up previously from $137.00) on shares of J.M. Smucker in a report on Friday, June 3rd. Zacks Investment Research downgraded shares of J.M. Smucker from a “buy” rating to a “hold” rating in a report on Monday, June 6th. Finally, Susquehanna reaffirmed a “hold” rating and set a $136.00 price target on shares of J.M. Smucker in a report on Wednesday, June 8th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $148.80.
The firm has a 50 day moving average of $151.34 and a 200 day moving average of $137.54. The firm has a market cap of $16.49 billion and a P/E ratio of 23.31.
J.M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Tuesday, August 23rd. The company reported $1.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.12. The business earned $1.82 billion during the quarter. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.32 EPS. On average, equities analysts forecast that J.M. Smucker Co. will post $7.69 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 12th will be given a $0.75 dividend. This is a positive change from J.M. Smucker’s previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, August 10th. This represents a $3.00 annualized dividend and a yield of 2.15%.
In other J.M. Smucker news, Director Vincent C. Byrd sold 14,512 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $144.55, for a total value of $2,097,709.60. Following the sale, the director now owns 69,670 shares in the company, valued at approximately $10,070,798.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mark R. Belgya sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $144.20, for a total value of $648,900.00. Following the completion of the sale, the chief financial officer now owns 46,820 shares in the company, valued at approximately $6,751,444. The disclosure for this sale can be found here.
Other large investors recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its stake in J.M. Smucker by 179.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 49,364 shares of the company’s stock valued at $6,089,000 after buying an additional 31,725 shares in the last quarter. Bank of Montreal Can raised its stake in J.M. Smucker by 76.3% in the fourth quarter. Bank of Montreal Can now owns 84,878 shares of the company’s stock valued at $10,470,000 after buying an additional 36,746 shares in the last quarter. Finally, BlackRock Advisors LLC raised its stake in J.M. Smucker by 32.8% in the fourth quarter. BlackRock Advisors LLC now owns 110,540 shares of the company’s stock valued at $13,634,000 after buying an additional 27,304 shares in the last quarter.
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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