Ballentine Partners LLC Boosts Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Ballentine Partners LLC raised its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 19.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,777 shares of the company’s stock after purchasing an additional 449 shares during the period. Ballentine Partners LLC’s holdings in J. M. Smucker were worth $329,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SJM. Marshall & Sterling Wealth Advisors Inc. purchased a new position in J. M. Smucker during the 4th quarter valued at about $27,000. Minot DeBlois Advisors LLC purchased a new position in J. M. Smucker during the 4th quarter valued at about $28,000. Measured Risk Portfolios Inc. purchased a new position in J. M. Smucker during the 4th quarter valued at about $29,000. Cooksen Wealth LLC purchased a new position in shares of J. M. Smucker in the 1st quarter worth approximately $33,000. Finally, Menard Financial Group LLC purchased a new position in shares of J. M. Smucker in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Down 0.4%

SJM stock opened at $104.32 on Wednesday. The firm’s fifty day simple moving average is $105.64 and its 200-day simple moving average is $108.55. The company has a market capitalization of $11.11 billion, a P/E ratio of -9.02, a price-to-earnings-growth ratio of 7.89 and a beta of 0.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.35. The J. M. Smucker Company has a 12 month low of $93.30 and a 12 month high of $125.42.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.06. J. M. Smucker had a negative net margin of 14.10% and a positive return on equity of 15.20%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the business posted $2.66 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 4.14%. The ex-dividend date was Friday, May 16th. J. M. Smucker’s dividend payout ratio is currently -37.37%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. BNP Paribas Exane raised shares of J. M. Smucker from an “underperform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Wednesday, July 9th. Barclays cut their price objective on shares of J. M. Smucker from $119.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 11th. Bank of America cut their price objective on shares of J. M. Smucker from $118.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 11th. Citigroup cut their price objective on shares of J. M. Smucker from $128.00 to $118.00 and set a “buy” rating on the stock in a research report on Wednesday, June 11th. Finally, Wall Street Zen raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Friday, March 28th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.33.

Insider Activity

In related news, Director Tarang Amin acquired 1,050 shares of J. M. Smucker stock in a transaction on Thursday, June 12th. The stock was bought at an average cost of $96.09 per share, for a total transaction of $100,894.50. Following the completion of the transaction, the director owned 3,825 shares of the company’s stock, valued at approximately $367,544.25. The trade was a 37.84% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 2.24% of the stock is currently owned by corporate insiders.

J. M. Smucker Company Profile

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in three segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, toppings, and syrups; jelly products; nut mix products; shortening and oils; frozen sandwiches and snacks; pet food and pet snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, juices and beverages, and baking mixes and ingredients.