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 Thursday. $16.97 million flowed into the stock on the tick-up and $41.16 million flowed out of the stock on the tick-down, for a money net flow of $24.19 million out of the stock. Of all stocks tracked, J.M. Smucker had the 0th highest net out-flow for the day. J.M. Smucker traded up $0.61 for the day and closed at $152.35
A number of research firms have weighed in on SJM. Morgan Stanley reaffirmed a “hold” rating on shares of J.M. Smucker in a report on Saturday, June 4th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of J.M. Smucker in a report on Sunday, June 12th. Credit Suisse Group AG reaffirmed 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 report on Sunday, July 17th. Finally, Hilliard Lyons lowered J.M. Smucker from a “neutral” rating to an “underperform” rating in a report on Thursday, June 23rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $146.80.
The stock has a market capitalization of $17.74 billion and a P/E ratio of 26.45. The firm has a 50 day moving average price of $149.60 and a 200-day moving average price of $133.05.
J.M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Thursday, June 9th. The company reported $1.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.67. The company earned $1.81 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the firm earned $0.98 EPS. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. Analysts expect that J.M. Smucker Co. will post $7.70 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 12th will be issued a $0.75 dividend. The ex-dividend date is Wednesday, August 10th. This is an increase from J.M. Smucker’s previous quarterly dividend of $0.67. This represents a $3.00 annualized dividend and a dividend yield of 1.97%.
In other news, CFO Mark R. Belgya sold 4,500 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 46,820 shares of the company’s stock, valued at approximately $6,751,444. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Barry C. Dunaway sold 3,026 shares of the business’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $144.60, for a total value of $437,559.60. Following the completion of the transaction, the insider now directly owns 48,443 shares of the company’s stock, valued at approximately $7,004,857.80. The disclosure for this sale can be found here.
Several institutional investors recently modified their holdings of SJM. Stack Financial Management Inc bought a new position in shares of J.M. Smucker during the fourth quarter valued at about $12,365,000. Jennison Associates LLC boosted its position in J.M. Smucker by 4.6% in the fourth quarter. Jennison Associates LLC now owns 1,683,080 shares of the company’s stock worth $207,591,000 after buying an additional 74,477 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in 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 worth $154,570,000 after buying an additional 72,469 shares during the last quarter. WBI Investments Inc. acquired a new position in J.M. Smucker during the fourth quarter worth $8,234,000. Finally, Nicholas Co. Inc. WI acquired a new position in J.M. Smucker during the fourth quarter worth $7,096,000.
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.