Comerica Bank Sells 2,839 Shares of The J. M. Smucker Company (NYSE:SJM)

Comerica Bank decreased its position in The J. M. Smucker Company (NYSE:SJMGet Rating) by 9.8% during the first quarter, HoldingsChannel reports. The firm owned 26,173 shares of the company’s stock after selling 2,839 shares during the quarter. Comerica Bank’s holdings in J. M. Smucker were worth $3,759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. AMI Asset Management Corp increased its position in J. M. Smucker by 16.6% during the first quarter. AMI Asset Management Corp now owns 3,005 shares of the company’s stock worth $407,000 after acquiring an additional 427 shares during the period. Exeter Financial LLC increased its position in J. M. Smucker by 2.1% during the first quarter. Exeter Financial LLC now owns 8,092 shares of the company’s stock worth $1,096,000 after acquiring an additional 165 shares during the period. Avantax Advisory Services Inc. increased its position in J. M. Smucker by 2.1% during the first quarter. Avantax Advisory Services Inc. now owns 4,750 shares of the company’s stock worth $644,000 after acquiring an additional 96 shares during the period. Advisor Partners LLC increased its position in J. M. Smucker by 2.0% during the first quarter. Advisor Partners LLC now owns 4,634 shares of the company’s stock worth $627,000 after acquiring an additional 92 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its position in J. M. Smucker by 3.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 6,785 shares of the company’s stock worth $919,000 after acquiring an additional 202 shares during the period. Institutional investors own 83.02% of the company’s stock.

J. M. Smucker Stock Performance

Shares of NYSE:SJM opened at $131.18 on Wednesday. The stock has a market capitalization of $14.23 billion, a P/E ratio of 22.50, a P/E/G ratio of 13.65 and a beta of 0.24. The J. M. Smucker Company has a 1-year low of $118.55 and a 1-year high of $146.74. The company has a current ratio of 1.03, a quick ratio of 0.47 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $129.33 and a two-hundred day moving average price of $134.52.

J. M. Smucker (NYSE:SJMGet Rating) last announced its quarterly earnings data on Tuesday, June 7th. The company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.35. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.98 billion. J. M. Smucker had a return on equity of 11.71% and a net margin of 7.90%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 EPS. Equities analysts predict that The J. M. Smucker Company will post 8.4 earnings per share for the current year.

J. M. Smucker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 12th will be paid a $1.02 dividend. The ex-dividend date is Thursday, August 11th. This is a boost from J. M. Smucker’s previous quarterly dividend of $0.99. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.11%. J. M. Smucker’s dividend payout ratio is 67.92%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SJM. Citigroup boosted their price target on shares of J. M. Smucker to $137.00 in a report on Thursday, June 9th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of J. M. Smucker from $133.00 to $131.00 in a report on Wednesday, June 8th. UBS Group boosted their price target on shares of J. M. Smucker to $124.00 in a report on Thursday, June 9th. Credit Suisse Group set a $140.00 target price on shares of J. M. Smucker in a research note on Tuesday. Finally, Consumer Edge downgraded shares of J. M. Smucker from an “equal weight” rating to an “underweight” rating in a research note on Thursday, June 16th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $133.18.

J. M. Smucker Profile

(Get Rating)

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, shortening and oils, and frozen sandwiches; 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 ingredient.

Further Reading

Want to see what other hedge funds are holding SJM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The J. M. Smucker Company (NYSE:SJMGet Rating).

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

Receive News & Ratings for J. M. Smucker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J. M. Smucker and related companies with MarketBeat.com's FREE daily email newsletter.