New Mexico Educational Retirement Board cut its stake in J.M. Smucker Company (The) (NYSE:SJM) by 8.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,822 shares of the company’s stock after selling 1,000 shares during the period. New Mexico Educational Retirement Board’s holdings in J.M. Smucker Company (The) were worth $1,319,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Smith Salley & Associates boosted its position in J.M. Smucker Company (The) by 14.9% in the first quarter. Smith Salley & Associates now owns 1,992 shares of the company’s stock valued at $261,000 after buying an additional 259 shares during the period. BNP Paribas Arbitrage SA boosted its position in J.M. Smucker Company (The) by 264.9% in the first quarter. BNP Paribas Arbitrage SA now owns 99,542 shares of the company’s stock valued at $13,048,000 after buying an additional 72,260 shares during the period. Norinchukin Bank The boosted its position in J.M. Smucker Company (The) by 7.1% in the first quarter. Norinchukin Bank The now owns 7,566 shares of the company’s stock valued at $992,000 after buying an additional 503 shares during the period. Toronto Dominion Bank boosted its position in J.M. Smucker Company (The) by 56.4% in the first quarter. Toronto Dominion Bank now owns 31,437 shares of the company’s stock valued at $4,120,000 after buying an additional 11,340 shares during the period. Finally, Bank of Nova Scotia boosted its position in J.M. Smucker Company (The) by 2,819.9% in the first quarter. Bank of Nova Scotia now owns 76,619 shares of the company’s stock valued at $10,044,000 after buying an additional 73,995 shares during the period. 75.47% of the stock is owned by institutional investors.

Shares of J.M. Smucker Company (SJM) opened at 122.28 on Friday. The stock’s 50 day moving average price is $119.21 and its 200-day moving average price is $128.65. The firm has a market capitalization of $13.87 billion, a PE ratio of 23.98 and a beta of 0.62. J.M. Smucker Company has a 12 month low of $114.31 and a 12 month high of $156.23.

J.M. Smucker Company (The) (NYSE:SJM) last posted its earnings results on Thursday, June 8th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.08. J.M. Smucker Company (The) had a net margin of 8.01% and a return on equity of 12.63%. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. J.M. Smucker Company (The)’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities analysts anticipate that J.M. Smucker Company will post $7.97 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.55%. This is a boost from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. J.M. Smucker Company (The)’s payout ratio is 61.18%.

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SJM has been the topic of several recent analyst reports. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $132.00 price target (down previously from $135.00) on shares of J.M. Smucker Company (The) in a research note on Tuesday, April 25th. Jefferies Group LLC reiterated a “hold” rating and issued a $130.00 price target on shares of J.M. Smucker Company (The) in a research note on Wednesday, April 26th. Zacks Investment Research cut J.M. Smucker Company (The) from a “hold” rating to a “sell” rating in a research note on Monday, May 8th. Citigroup Inc. cut their price target on J.M. Smucker Company (The) from $161.00 to $155.00 and set a “buy” rating on the stock in a research note on Tuesday, May 9th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $126.00 price target (down previously from $138.00) on shares of J.M. Smucker Company (The) in a research note on Friday, May 19th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. J.M. Smucker Company (The) currently has a consensus rating of “Hold” and a consensus target price of $132.82.

In other news, Director Sandra Pianalto bought 250 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was bought at an average price of $120.61 per share, for a total transaction of $30,152.50. Following the completion of the purchase, the director now owns 250 shares of the company’s stock, valued at approximately $30,152.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Oakland sold 6,047 shares of J.M. Smucker Company (The) stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $122.00, for a total transaction of $737,734.00. Following the completion of the transaction, the insider now owns 47,667 shares of the company’s stock, valued at approximately $5,815,374. The disclosure for this sale can be found here. Insiders sold 16,030 shares of company stock valued at $1,948,195 in the last quarter. 3.50% of the stock is currently owned by corporate insiders.

J.M. Smucker Company (The) Company Profile

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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