J.M. Smucker Co. (SJM) Shares Bought by Wagner Bowman Management Corp
Wagner Bowman Management Corp increased its position in J.M. Smucker Co. (NYSE:SJM) by 17.8% during the second quarter, Holdings Channel reports. The fund owned 6,615 shares of the company’s stock after buying an additional 1,001 shares during the period. Wagner Bowman Management Corp’s holdings in J.M. Smucker were worth $1,008,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Carroll Financial Associates Inc. raised its position in shares of J.M. Smucker by 16.3% in the second quarter. Carroll Financial Associates Inc. now owns 679 shares of the company’s stock worth $103,000 after buying an additional 95 shares during the last quarter. City Holding Co. bought a new position in shares of J.M. Smucker during the second quarter worth approximately $110,000. Mitchell Sinkler & Starr PA bought a new position in shares of J.M. Smucker during the second quarter worth approximately $210,000. Neville Rodie & Shaw Inc. bought a new position in shares of J.M. Smucker during the second quarter worth approximately $215,000. Finally, Adirondack Trust Co. raised its position in shares of J.M. Smucker by 7.5% in the second quarter. Adirondack Trust Co. now owns 1,795 shares of the company’s stock worth $274,000 after buying an additional 125 shares during the last quarter. 75.70% of the stock is currently owned by hedge funds and other institutional investors.
J.M. Smucker Co. (NYSE:SJM) traded down 0.98% during midday trading on Tuesday, hitting $135.69. 585,216 shares of the stock traded hands. The company has a market cap of $15.80 billion, a price-to-earnings ratio of 22.31 and a beta of 0.47. J.M. Smucker Co. has a 52-week low of $106.87 and a 52-week high of $157.31. The firm’s 50-day moving average is $145.60 and its 200-day moving average is $138.66.
J.M. Smucker (NYSE:SJM) last released its quarterly earnings data on Tuesday, August 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.12. The firm had revenue of $1.82 billion for the quarter. J.M. Smucker had a net margin of 9.41% and a return on equity of 11.76%. The company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 EPS. Analysts predict that J.M. Smucker Co. will post $7.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.21%. The ex-dividend date was Wednesday, August 10th. This is a boost from J.M. Smucker’s previous quarterly dividend of $0.67. J.M. Smucker’s payout ratio is currently 49.26%.
A number of brokerages have recently commented on SJM. Credit Suisse Group AG reissued a “buy” rating on shares of J.M. Smucker in a report on Saturday, July 9th. Susquehanna reaffirmed a “hold” rating on shares of J.M. Smucker in a research note on Sunday, July 17th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of J.M. Smucker in a research note on Sunday, June 12th. Morgan Stanley reaffirmed a “hold” rating on shares of J.M. Smucker in a research note on Saturday, June 4th. Finally, Stephens reaffirmed a “buy” rating on shares of J.M. Smucker in a research note on Monday, June 13th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $148.10.
In related news, Director David J. West sold 865 shares of the business’s 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 sale, the director now owns 206,790 shares in the company, valued at $30,118,963.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn W. Dindo sold 1,466 shares of the business’s stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $146.50, for a total transaction of $214,769.00. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by corporate insiders.
About J.M. Smucker
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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