DAVENPORT & Co LLC trimmed its holdings in shares of J M Smucker Co (NYSE:SJM) by 3.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,052 shares of the company’s stock after selling 489 shares during the quarter. DAVENPORT & Co LLC’s holdings in J M Smucker were worth $1,275,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Tarbox Family Office Inc. increased its stake in J M Smucker by 2.2% during the 1st quarter. Tarbox Family Office Inc. now owns 4,480 shares of the company’s stock worth $497,000 after purchasing an additional 97 shares in the last quarter. Physicians Financial Services Inc. increased its stake in J M Smucker by 3.8% during the 1st quarter. Physicians Financial Services Inc. now owns 2,765 shares of the company’s stock worth $307,000 after purchasing an additional 100 shares in the last quarter. Shell Asset Management Co. increased its stake in J M Smucker by 1.5% during the 1st quarter. Shell Asset Management Co. now owns 6,823 shares of the company’s stock worth $757,000 after purchasing an additional 100 shares in the last quarter. Coastline Trust Co increased its stake in J M Smucker by 5.1% during the 1st quarter. Coastline Trust Co now owns 2,055 shares of the company’s stock worth $228,000 after purchasing an additional 100 shares in the last quarter. Finally, Clear Harbor Asset Management LLC increased its stake in J M Smucker by 2.2% during the 1st quarter. Clear Harbor Asset Management LLC now owns 4,841 shares of the company’s stock worth $537,000 after purchasing an additional 105 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

In other J M Smucker news, insider Mark R. Belgya sold 7,807 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $108.74, for a total transaction of $848,933.18. Following the completion of the sale, the insider now owns 43,604 shares of the company’s stock, valued at approximately $4,741,498.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark R. Belgya sold 750 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $110.00, for a total value of $82,500.00. Following the sale, the insider now directly owns 47,442 shares of the company’s stock, valued at approximately $5,218,620. The disclosure for this sale can be found here. Insiders have sold a total of 10,807 shares of company stock valued at $1,178,933 in the last ninety days. Insiders own 3.60% of the company’s stock.

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. increased their target price on J M Smucker from $108.00 to $123.00 and gave the stock a “neutral” rating in a research note on Friday, April 17th. Deutsche Bank raised their price target on shares of J M Smucker from $110.00 to $124.00 and gave the stock a “hold” rating in a research note on Tuesday, April 21st. They noted that the move was a valuation call. Jefferies Financial Group reaffirmed a “hold” rating and set a $110.00 price target on shares of J M Smucker in a research note on Monday, July 13th. Stifel Nicolaus raised their price target on shares of J M Smucker from $110.00 to $115.00 and gave the stock a “hold” rating in a research note on Friday, June 5th. Finally, Credit Suisse Group raised shares of J M Smucker from an “underperform” rating to a “neutral” rating and set a $115.00 price target for the company in a research note on Thursday, April 16th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $113.00.

NYSE SJM opened at $109.35 on Friday. The company has a market cap of $12.48 billion, a PE ratio of 12.48, a PEG ratio of 6.17 and a beta of 0.13. The company has a current ratio of 1.24, a quick ratio of 0.68 and a debt-to-equity ratio of 0.67. J M Smucker Co has a 12 month low of $91.88 and a 12 month high of $125.62. The stock has a 50 day moving average of $106.47 and a 200-day moving average of $109.34.

J M Smucker (NYSE:SJM) last released its quarterly earnings data on Thursday, June 4th. The company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.28 by $0.29. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.05 billion. J M Smucker had a return on equity of 12.31% and a net margin of 9.99%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.08 EPS. As a group, sell-side analysts predict that J M Smucker Co will post 8.21 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Thursday, August 13th. This is an increase from J M Smucker’s previous quarterly dividend of $0.88. J M Smucker’s dividend payout ratio is presently 40.18%.

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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