NuWave Investment Management LLC bought a new stake in J M Smucker Co (NYSE:SJM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,474 shares of the company’s stock, valued at approximately $170,000.

Other hedge funds have also added to or reduced their stakes in the company. Ropes Wealth Advisors LLC grew its stake in shares of J M Smucker by 360.3% in the first quarter. Ropes Wealth Advisors LLC now owns 1,841 shares of the company’s stock worth $214,000 after purchasing an additional 1,441 shares during the last quarter. Hodges Capital Management Inc. bought a new stake in shares of J M Smucker during the 1st quarter valued at $449,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in J M Smucker by 20.1% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 39,921 shares of the company’s stock worth $4,651,000 after buying an additional 6,691 shares during the period. Commonwealth Equity Services LLC boosted its holdings in J M Smucker by 2.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 64,988 shares of the company’s stock worth $7,571,000 after buying an additional 1,400 shares during the period. Finally, Physicians Financial Services Inc. bought a new position in J M Smucker in the 1st quarter worth $305,000. 77.54% of the stock is owned by institutional investors.

In other news, insider Joseph Stanziano sold 319 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $119.20, for a total transaction of $38,024.80. Following the completion of the transaction, the insider now owns 14,857 shares of the company’s stock, valued at $1,770,954.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark R. Belgya sold 750 shares of J M Smucker stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $113.28, for a total transaction of $84,960.00. Following the sale, the insider now owns 54,942 shares in the company, valued at $6,223,829.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,269 shares of company stock valued at $372,201. Corporate insiders own 3.70% of the company’s stock.

SJM opened at $114.74 on Tuesday. The stock has a market capitalization of $13.03 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 3.33 and a beta of 0.45. The firm’s 50 day moving average price is $117.87. J M Smucker Co has a 52-week low of $91.32 and a 52-week high of $128.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.69 and a quick ratio of 0.31.

J M Smucker (NYSE:SJM) last released its quarterly earnings results on Thursday, June 6th. The company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.11. J M Smucker had a net margin of 6.56% and a return on equity of 11.80%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the company earned $1.93 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, analysts forecast that J M Smucker Co will post 8.52 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be issued a dividend of $0.88 per share. This is an increase from J M Smucker’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, August 15th. This represents a $3.52 annualized dividend and a dividend yield of 3.07%. J M Smucker’s payout ratio is 41.01%.

A number of analysts recently weighed in on SJM shares. Bank of America set a $120.00 price objective on shares of Walmart and gave the stock a “buy” rating in a research report on Friday, May 17th. Zacks Investment Research cut shares of GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Argus began coverage on shares of J M Smucker in a report on Monday, April 1st. They set a “hold” rating for the company. Wells Fargo & Co set a $40.00 target price on shares of Greif and gave the stock a “hold” rating in a report on Friday, June 7th. Finally, Credit Suisse Group raised shares of StoneCo from a “neutral” rating to an “outperform” rating in a report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $115.44.

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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Institutional Ownership by Quarter for J M Smucker (NYSE:SJM)

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