OLD Dominion Capital Management Inc. reduced its stake in shares of J.M. Smucker Company (The) (NYSE:SJM) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,697 shares of the company’s stock after selling 78 shares during the period. OLD Dominion Capital Management Inc.’s holdings in J.M. Smucker Company (The) were worth $674,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its position in J.M. Smucker Company (The) by 4.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 398,582 shares of the company’s stock valued at $47,165,000 after buying an additional 15,324 shares during the period. Canada Pension Plan Investment Board raised its position in J.M. Smucker Company (The) by 221.7% in the second quarter. Canada Pension Plan Investment Board now owns 153,849 shares of the company’s stock valued at $18,205,000 after buying an additional 106,028 shares during the period. Stoneridge Investment Partners LLC raised its position in J.M. Smucker Company (The) by 59.9% in the second quarter. Stoneridge Investment Partners LLC now owns 69,418 shares of the company’s stock valued at $8,214,000 after buying an additional 26,012 shares during the period. Global X Management Co. LLC raised its position in J.M. Smucker Company (The) by 4.4% in the second quarter. Global X Management Co. LLC now owns 5,793 shares of the company’s stock valued at $685,000 after buying an additional 242 shares during the period. Finally, Beach Investment Management LLC. acquired a new position in J.M. Smucker Company (The) during the second quarter valued at approximately $730,000. 75.47% of the stock is owned by institutional investors and hedge funds.

Shares of J.M. Smucker Company (NYSE:SJM) opened at 121.72 on Friday. J.M. Smucker Company has a 52-week low of $114.31 and a 52-week high of $156.23. The company has a market capitalization of $13.81 billion, a P/E ratio of 23.87 and a beta of 0.62. The firm’s 50 day moving average is $119.18 and its 200-day moving average is $128.73.

J.M. Smucker Company (The) (NYSE:SJM) last posted its earnings results on Thursday, June 8th. The company reported $1.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the firm earned $1.19 EPS. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities research 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 issued a $0.78 dividend. This is a positive change from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $3.12 annualized dividend and a dividend yield of 2.56%. J.M. Smucker Company (The)’s dividend payout ratio is presently 61.18%.

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Several research analysts have recently commented on the stock. Jefferies Group LLC raised shares of J.M. Smucker Company (The) from a “hold” rating to a “buy” rating and lifted their price target for the company from $130.00 to $140.00 in a report on Friday, July 28th. Stephens lowered shares of J.M. Smucker Company (The) from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $165.00 to $125.00 in a report on Wednesday, July 19th. Morgan Stanley reaffirmed an “underweight” rating and issued a $114.00 price target (down from $126.00) on shares of J.M. Smucker Company (The) in a report on Tuesday, July 18th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $131.00 price target (down from $135.00) on shares of J.M. Smucker Company (The) in a report on Thursday, July 13th. Finally, Hilliard Lyons raised shares of J.M. Smucker Company (The) from a “neutral” rating to a “long-term buy” rating and set a $140.00 price target for the company in a report on Tuesday, July 11th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. J.M. Smucker Company (The) has a consensus rating of “Hold” and an average target price of $132.82.

In related news, Director Sandra Pianalto acquired 250 shares of the firm’s stock in a transaction on Tuesday, June 27th. The shares were purchased at an average price of $120.61 per share, with a total value of $30,152.50. Following the acquisition, the director now directly owns 250 shares in the company, valued at $30,152.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Barry C. Dunaway sold 9,433 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $121.32, for a total transaction of $1,144,411.56. Following the sale, the insider now directly owns 40,966 shares in the company, valued at approximately $4,969,995.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,030 shares of company stock worth $1,948,195. 3.50% of the stock is owned by 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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