Shelter Mutual Insurance Co reduced its holdings in shares of J M Smucker Co (NYSE:SJM) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,720 shares of the company’s stock after selling 5,200 shares during the period. J M Smucker comprises approximately 1.8% of Shelter Mutual Insurance Co’s portfolio, making the stock its 24th biggest holding. Shelter Mutual Insurance Co’s holdings in J M Smucker were worth $6,188,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of SJM. LSV Asset Management grew its position in J M Smucker by 51.7% during the first quarter. LSV Asset Management now owns 3,823,806 shares of the company’s stock valued at $445,473,000 after acquiring an additional 1,303,090 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in J M Smucker during the first quarter valued at approximately $44,078,000. Clark Capital Management Group Inc. bought a new position in J M Smucker during the first quarter valued at approximately $26,626,000. Robeco Institutional Asset Management B.V. grew its position in J M Smucker by 100.3% during the second quarter. Robeco Institutional Asset Management B.V. now owns 382,750 shares of the company’s stock valued at $44,089,000 after acquiring an additional 191,644 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in J M Smucker by 12.1% during the fourth quarter. Geode Capital Management LLC now owns 1,582,207 shares of the company’s stock valued at $147,679,000 after acquiring an additional 171,185 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.
SJM stock traded up $0.11 on Thursday, reaching $113.47. The company’s stock had a trading volume of 12,095 shares, compared to its average volume of 721,376. The company has a fifty day moving average price of $114.65. J M Smucker Co has a 12-month low of $91.32 and a 12-month high of $128.43. The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 3.31 and a beta of 0.42. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.59.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be paid a $0.88 dividend. This is a positive change from J M Smucker’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, August 15th. This represents a $3.52 dividend on an annualized basis and a yield of 3.10%. J M Smucker’s dividend payout ratio (DPR) is presently 41.01%.
SJM has been the topic of several recent analyst reports. Credit Suisse Group cut their target price on shares of J M Smucker from $120.00 to $114.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Zacks Investment Research cut shares of J M Smucker from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Wells Fargo & Co raised their target price on shares of J M Smucker from $110.00 to $114.00 and gave the stock a “market perform” rating in a report on Friday, June 7th. Morgan Stanley raised their target price on shares of J M Smucker from $117.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, June 7th. Finally, ValuEngine cut shares of J M Smucker from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $115.44.
In related news, insider Joseph Stanziano sold 319 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $119.20, for a total value of $38,024.80. Following the completion of the sale, the insider now owns 14,857 shares of the company’s stock, valued at $1,770,954.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark T. Smucker sold 2,200 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $113.28, for a total value of $249,216.00. Following the completion of the sale, the chief executive officer now directly owns 140,975 shares of the company’s stock, valued at approximately $15,969,648. The disclosure for this sale can be found here. Insiders sold 3,269 shares of company stock valued at $372,201 in the last ninety days. 3.70% of the stock is currently owned by insiders.
About J M Smucker
The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.
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