Charles Schwab Investment Management Inc. Increases Position in The J. M. Smucker Company (NYSE:SJM)

Charles Schwab Investment Management Inc. lifted its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 1.5% during the first quarter, Holdings Channel reports. The fund owned 1,017,805 shares of the company’s stock after purchasing an additional 14,763 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in J. M. Smucker were worth $120,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SJM. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of J. M. Smucker during the fourth quarter worth about $27,000. Minot DeBlois Advisors LLC acquired a new position in J. M. Smucker in the fourth quarter worth about $28,000. Measured Risk Portfolios Inc. acquired a new position in J. M. Smucker in the fourth quarter worth about $29,000. N.E.W. Advisory Services LLC acquired a new position in J. M. Smucker in the first quarter worth about $30,000. Finally, Cooksen Wealth LLC acquired a new position in J. M. Smucker in the first quarter worth about $33,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SJM has been the subject of a number of research reports. UBS Group decreased their price target on J. M. Smucker from $134.00 to $129.00 and set a “buy” rating for the company in a research note on Friday, June 6th. BNP Paribas Exane upgraded J. M. Smucker from an “underperform” rating to an “outperform” rating and set a $120.00 price target for the company in a research note on Wednesday, July 9th. Barclays decreased their price target on J. M. Smucker from $119.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 11th. Royal Bank Of Canada initiated coverage on J. M. Smucker in a research note on Monday, July 7th. They issued an “outperform” rating and a $130.00 price target for the company. Finally, Bank of America decreased their price target on J. M. Smucker from $118.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, June 11th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, J. M. Smucker currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.67.

J. M. Smucker Stock Performance

Shares of NYSE SJM opened at $110.96 on Tuesday. The firm’s 50-day moving average price is $104.31 and its two-hundred day moving average price is $109.07. The stock has a market capitalization of $11.82 billion, a P/E ratio of -9.60, a P/E/G ratio of 8.41 and a beta of 0.31. The company has a quick ratio of 0.35, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The J. M. Smucker Company has a 52-week low of $93.30 and a 52-week high of $125.42.

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

J. M. Smucker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Friday, August 15th. J. M. Smucker’s dividend payout ratio is presently -37.37%.

Insider Buying and Selling at J. M. Smucker

In other J. M. Smucker news, Director Tarang Amin purchased 1,050 shares of the business’s stock in a transaction dated Thursday, June 12th. The shares were bought at an average price of $96.09 per share, with a total value of $100,894.50. Following the completion of the acquisition, the director owned 3,825 shares in the company, valued at approximately $367,544.25. This represents a 37.84% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.24% of the company’s stock.

About J. M. Smucker

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.