GSB Wealth Management LLC Sells 844 Shares of The J. M. Smucker Company (NYSE:SJM)

GSB Wealth Management LLC trimmed its stake in The J. M. Smucker Company (NYSE:SJM) by 16.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,330 shares of the company’s stock after selling 844 shares during the quarter. GSB Wealth Management LLC’s holdings in J. M. Smucker were worth $681,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Stokes Family Office LLC lifted its position in shares of J. M. Smucker by 2.5% during the first quarter. Stokes Family Office LLC now owns 2,622 shares of the company’s stock worth $413,000 after purchasing an additional 65 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of J. M. Smucker by 0.4% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,078 shares of the company’s stock worth $2,845,000 after purchasing an additional 66 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of J. M. Smucker by 0.3% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 20,510 shares of the company’s stock worth $3,228,000 after purchasing an additional 66 shares during the last quarter. Park National Corp OH lifted its position in shares of J. M. Smucker by 2.0% during the first quarter. Park National Corp OH now owns 3,456 shares of the company’s stock worth $544,000 after purchasing an additional 67 shares during the last quarter. Finally, 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 worth $29,000 after purchasing an additional 70 shares during the last quarter. 79.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Amy C. Held sold 9,917 shares of J. M. Smucker stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $143.80, for a total transaction of $1,426,064.60. Following the completion of the sale, the insider now owns 5,972 shares of the company’s stock, valued at $858,773.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other J. M. Smucker news, Director Richard K. Smucker sold 19,576 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $151.95, for a total value of $2,974,573.20. Following the completion of the transaction, the director now directly owns 623,605 shares of the company’s stock, valued at $94,756,779.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Amy C. Held sold 9,917 shares of the business’s stock in a transaction that occurred 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 directly owns 5,972 shares of the company’s stock, valued at $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 quarter. 3.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SJM has been the subject of several recent research reports. Barclays decreased their price objective on J. M. Smucker from $165.00 to $160.00 in a report on Thursday, June 8th. StockNews.com initiated coverage on J. M. Smucker in a report on Thursday, August 17th. They issued a “hold” rating for the company. Consumer Edge upgraded J. M. Smucker from an “underweight” rating to an “equal weight” rating and set a $154.00 price objective for the company in a report on Friday, September 1st. Sanford C. Bernstein lifted their price objective on J. M. Smucker from $135.00 to $142.00 in a report on Wednesday, June 7th. Finally, Stifel Nicolaus cut their target price on J. M. Smucker from $160.00 to $150.00 and set a “hold” rating on the stock in a research note on Wednesday, August 30th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, J. M. Smucker has a consensus rating of “Hold” and a consensus price target of $151.71.

J. M. Smucker Price Performance

Shares of SJM stock opened at $128.41 on Thursday. The J. M. Smucker Company has a fifty-two week low of $128.36 and a fifty-two week high of $163.07. The firm has a market capitalization of $13.11 billion, a price-to-earnings ratio of -755.35, a PEG ratio of 2.42 and a beta of 0.23. 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 stock’s 50-day simple moving average is $145.44 and its 200-day simple moving average is $149.90.

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

J. M. Smucker Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were issued a dividend of $1.06 per share. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.02. The ex-dividend date was Thursday, August 17th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.30%. J. M. Smucker’s payout ratio is -2,494.12%.

J. M. Smucker Company Profile

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.