Freestone Capital Holdings LLC Reduces Holdings in The J. M. Smucker Company (NYSE:SJM)

Freestone Capital Holdings LLC decreased its holdings in The J. M. Smucker Company (NYSE:SJM) by 4.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,601 shares of the company’s stock after selling 320 shares during the quarter. Freestone Capital Holdings LLC’s holdings in J. M. Smucker were worth $1,196,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SJM. Eagle Bay Advisors LLC purchased a new position in shares of J. M. Smucker in the second quarter worth $27,000. Massmutual Trust Co. FSB ADV lifted its position in shares of J. M. Smucker by 59.8% during the first quarter. Massmutual Trust Co. FSB ADV now owns 187 shares of the company’s stock valued at $29,000 after buying an additional 70 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of J. M. Smucker during the fourth quarter valued at about $30,000. Clear Street Markets LLC lifted its position in shares of J. M. Smucker by 97.2% during the first quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock valued at $33,000 after buying an additional 104 shares during the last quarter. Finally, CNB Bank purchased a new stake in shares of J. M. Smucker during the first quarter valued at about $34,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. TheStreet lowered shares of J. M. Smucker from an “a-” rating to a “c+” rating in a research report on Tuesday, June 6th. StockNews.com started coverage on shares of J. M. Smucker in a report on Thursday, August 17th. They set a “hold” rating on the stock. The Goldman Sachs Group upped their price objective on shares of J. M. Smucker from $129.00 to $130.00 in a report on Tuesday, August 29th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of J. M. Smucker from $152.00 to $153.00 and gave the company a “hold” rating in a report on Monday, August 21st. Finally, Barclays cut their price objective on shares of J. M. Smucker from $165.00 to $160.00 in a report on Thursday, June 8th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $154.23.

J. M. Smucker Stock Up 0.9 %

SJM stock opened at $141.58 on Monday. The company’s 50 day moving average price is $146.65 and its 200 day moving average price is $150.30. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 1.28. The J. M. Smucker Company has a fifty-two week low of $135.44 and a fifty-two week high of $163.07. The firm has a market capitalization of $14.46 billion, a price-to-earnings ratio of -832.82, a PEG ratio of 2.42 and a beta of 0.23.

J. M. Smucker (NYSE:SJM) last released its earnings results on Tuesday, August 29th. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.19. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. J. M. Smucker had a negative net margin of 0.21% and a positive return on equity of 12.96%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.67 earnings per share. On average, equities research analysts anticipate that The J. M. Smucker Company will post 9.72 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 2.99%. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Thursday, August 17th. J. M. Smucker’s dividend payout ratio is -2,494.12%.

Insider Activity at J. M. Smucker

In other news, insider Jill R. Penrose sold 3,009 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $153.65, for a total value of $462,332.85. Following the completion of the sale, the insider now directly owns 6,058 shares of the company’s stock, valued at $930,811.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other J. M. Smucker news, insider Jill R. Penrose sold 3,009 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $153.65, for a total value of $462,332.85. Following the completion of the transaction, the insider now owns 6,058 shares in the company, valued at $930,811.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Amy C. Held sold 9,917 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $143.80, for a total value of $1,426,064.60. Following the completion of the transaction, the insider now owns 5,972 shares of the company’s stock, valued at approximately $858,773.60. The disclosure for this sale can be found here. Insiders sold 42,474 shares of company stock valued at $6,381,615 over the last three months. 3.50% of the stock is owned by corporate insiders.

About J. M. Smucker

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in three segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, toppings, and syrups; jelly products; nut mix products; shortening and oils; frozen sandwiches and snacks; 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 mixes and ingredients.