Tocqueville Asset Management L.P. reduced its stake in J.M. Smucker Company (The) (NYSE:SJM) by 12.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,835 shares of the company’s stock after selling 543 shares during the period. Tocqueville Asset Management L.P.’s holdings in J.M. Smucker Company (The) were worth $454,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Cadence Capital Management LLC increased its stake in J.M. Smucker Company (The) by 13.1% in the second quarter. Cadence Capital Management LLC now owns 20,123 shares of the company’s stock valued at $2,381,000 after buying an additional 2,338 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in J.M. Smucker Company (The) by 0.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 184,778 shares of the company’s stock valued at $21,865,000 after buying an additional 1,592 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in J.M. Smucker Company (The) during the second quarter valued at $8,854,000. BB&T Securities LLC increased its stake in J.M. Smucker Company (The) by 29.0% in the second quarter. BB&T Securities LLC now owns 90,966 shares of the company’s stock valued at $10,764,000 after buying an additional 20,423 shares during the last quarter. Finally, KDI Capital Partners LLC increased its stake in J.M. Smucker Company (The) by 15.7% in the second quarter. KDI Capital Partners LLC now owns 90,104 shares of the company’s stock valued at $10,662,000 after buying an additional 12,242 shares during the last quarter. 73.54% of the stock is owned by institutional investors.

Shares of J.M. Smucker Company (SJM) opened at 104.70 on Wednesday. J.M. Smucker Company has a 52 week low of $104.59 and a 52 week high of $143.68. The stock has a 50 day moving average of $119.18 and a 200-day moving average of $127.41. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of 22.00 and a beta of 0.62.

J.M. Smucker Company (The) (NYSE:SJM) last released its earnings results on Thursday, August 24th. The company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by $0.10. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.81 billion. J.M. Smucker Company (The) had a net margin of 7.50% and a return on equity of 12.06%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.86 EPS. Analysts expect that J.M. Smucker Company will post $7.76 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Wednesday, August 9th. This is an increase from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. J.M. Smucker Company (The)’s dividend payout ratio is currently 65.55%.

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A number of brokerages recently weighed in on SJM. Zacks Investment Research downgraded shares of J.M. Smucker Company (The) from a “hold” rating to a “sell” rating in a research report on Tuesday. BidaskClub downgraded shares of J.M. Smucker Company (The) from a “sell” rating to a “strong sell” rating in a research report on Saturday. Citigroup Inc. lowered their price objective on shares of J.M. Smucker Company (The) from $155.00 to $133.00 and set a “buy” rating for the company in a research report on Friday, August 25th. Morgan Stanley reaffirmed a “sell” rating and set a $108.00 price objective (down previously from $114.00) on shares of J.M. Smucker Company (The) in a research report on Friday, August 25th. Finally, Credit Suisse Group set a $110.00 price objective on shares of J.M. Smucker Company (The) and gave the company a “hold” rating in a research report on Friday, August 25th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $126.73.

In other J.M. Smucker Company (The) news, insider Barry C. Dunaway sold 9,433 shares of the stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $121.32, for a total transaction of $1,144,411.56. Following the completion of the sale, the insider now owns 40,966 shares of the company’s stock, valued at approximately $4,969,995.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jill R. Penrose sold 550 shares of the stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $120.09, for a total transaction of $66,049.50. Following the sale, the senior vice president now directly owns 13,475 shares of the company’s stock, valued at approximately $1,618,212.75. The disclosure for this sale can be found here. Insiders have sold a total of 16,030 shares of company stock valued at $1,948,195 in the last three months. Insiders own 3.50% of the company’s stock.

About J.M. Smucker Company (The)

The J. M. Smucker Company is a manufacturer and marketer of branded food and beverage products and pet food and pet snacks in North America. The Company’s segments include U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Foodservice. The Company’s U.S. retail market segments consist of the sale of branded food products to consumers through retail outlets in North America.

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

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