J. M. Smucker (NYSE:SJM) Trading 2.8% Higher – Here’s Why

The J. M. Smucker Company (NYSE:SJM) shares shot up 2.8% on Monday . The stock traded as high as $119.37 and last traded at $119.56. 255,056 shares changed hands during trading, a decline of 78% from the average session volume of 1,169,553 shares. The stock had previously closed at $116.32.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SJM shares. StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Friday, March 28th. Morgan Stanley started coverage on J. M. Smucker in a report on Monday, March 24th. They set an “overweight” rating and a $123.00 price objective on the stock. Stifel Nicolaus dropped their target price on shares of J. M. Smucker from $125.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Barclays decreased their price objective on shares of J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Finally, TD Cowen lowered J. M. Smucker from a “buy” rating to a “hold” rating and reduced their target price for the company from $130.00 to $121.00 in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $125.67.

J. M. Smucker Stock Down 0.0 %

The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27. The business has a 50 day simple moving average of $108.84 and a 200 day simple moving average of $112.15. The stock has a market cap of $12.60 billion, a PE ratio of 23.97, a P/E/G ratio of 3.91 and a beta of 0.28.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Thursday, February 27th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.37 by $0.24. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.23 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. On average, equities research analysts forecast that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $1.08 dividend. The ex-dividend date was Friday, February 14th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.65%. J. M. Smucker’s dividend payout ratio is currently -179.25%.

Insiders Place Their Bets

In other news, insider Jill R. Penrose sold 5,117 shares of the firm’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $116.26, for a total value of $594,902.42. Following the sale, the insider now owns 8,794 shares in the company, valued at approximately $1,022,390.44. This trade represents a 36.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Tucker H. Marshall sold 5,028 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $113.36, for a total transaction of $569,974.08. Following the transaction, the chief financial officer now owns 13,263 shares of the company’s stock, valued at approximately $1,503,493.68. The trade was a 27.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its holdings in J. M. Smucker by 21.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 84,462 shares of the company’s stock valued at $10,228,000 after acquiring an additional 15,092 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of J. M. Smucker by 14.5% in the 3rd quarter. Townsquare Capital LLC now owns 2,358 shares of the company’s stock valued at $286,000 after buying an additional 298 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of J. M. Smucker by 14.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,618 shares of the company’s stock worth $559,000 after acquiring an additional 600 shares during the period. Captrust Financial Advisors boosted its position in shares of J. M. Smucker by 0.5% during the 3rd quarter. Captrust Financial Advisors now owns 57,006 shares of the company’s stock valued at $6,903,000 after acquiring an additional 308 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in J. M. Smucker by 61,571.4% during the third quarter. Benjamin Edwards Inc. now owns 21,585 shares of the company’s stock worth $2,614,000 after purchasing an additional 21,550 shares during the period. Institutional investors own 81.66% of the company’s stock.

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.