Cambridge Investment Research Advisors Inc. Has $2.32 Million Stock Position in The J. M. Smucker Company (NYSE:SJM)

Cambridge Investment Research Advisors Inc. cut its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 7.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,572 shares of the company’s stock after selling 1,467 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in J. M. Smucker were worth $2,318,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SJM. Norges Bank acquired a new position in J. M. Smucker during the 4th quarter valued at $112,978,000. LSV Asset Management increased its holdings in shares of J. M. Smucker by 3,599.5% during the 4th quarter. LSV Asset Management now owns 929,400 shares of the company’s stock worth $102,346,000 after purchasing an additional 904,278 shares during the period. Two Sigma Advisers LP lifted its stake in shares of J. M. Smucker by 76.7% in the fourth quarter. Two Sigma Advisers LP now owns 1,078,892 shares of the company’s stock valued at $118,808,000 after buying an additional 468,200 shares during the period. FIL Ltd grew its position in J. M. Smucker by 87.8% during the fourth quarter. FIL Ltd now owns 925,000 shares of the company’s stock worth $101,861,000 after buying an additional 432,500 shares in the last quarter. Finally, Invesco Ltd. increased its stake in J. M. Smucker by 21.0% during the fourth quarter. Invesco Ltd. now owns 2,415,023 shares of the company’s stock valued at $265,942,000 after acquiring an additional 418,878 shares during the period. 81.66% of the stock is owned by institutional investors.

J. M. Smucker Stock Up 4.8%

NYSE SJM opened at $102.87 on Wednesday. The stock’s 50 day simple moving average is $107.81 and its 200 day simple moving average is $109.04. The J. M. Smucker Company has a one year low of $93.30 and a one year high of $125.42. The firm has a market cap of $10.96 billion, a PE ratio of -8.90, a price-to-earnings-growth ratio of 7.50 and a beta of 0.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.35.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.25 by $0.06. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.18 billion. J. M. Smucker had a positive return on equity of 15.20% and a negative net margin of 14.10%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.66 earnings per share. As a group, sell-side analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were paid a $1.08 dividend. The ex-dividend date was Friday, May 16th. This represents a $4.32 annualized dividend and a dividend yield of 4.20%. J. M. Smucker’s dividend payout ratio (DPR) is currently -37.37%.

Analyst Upgrades and Downgrades

A number of analysts have commented on SJM shares. Wells Fargo & Company reduced their price objective on J. M. Smucker from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, June 11th. Jefferies Financial Group upgraded shares of J. M. Smucker from a “hold” rating to a “buy” rating and dropped their price objective for the company from $118.00 to $115.00 in a research note on Wednesday, June 11th. DA Davidson reduced their price objective on shares of J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Wall Street Zen raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Friday, March 28th. Finally, UBS Group dropped their price target on shares of J. M. Smucker from $134.00 to $129.00 and set a “buy” rating for the company in a research report on Friday, June 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $115.80.

Insider Buying and Selling at J. M. Smucker

In other news, Director Tarang Amin acquired 1,050 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was purchased at an average cost of $96.09 per share, for a total transaction of $100,894.50. Following the completion of the transaction, the director directly owned 3,825 shares in the company, valued at $367,544.25. This trade represents a 37.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.40% of the stock is currently owned by insiders.

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.