Penobscot Investment Management Company Inc. Decreases Stake in J M Smucker Co (NYSE:SJM)

Penobscot Investment Management Company Inc. reduced its holdings in J M Smucker Co (NYSE:SJM) by 2.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,420 shares of the company’s stock after selling 100 shares during the period. Penobscot Investment Management Company Inc.’s holdings in J M Smucker were worth $509,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. LSV Asset Management raised its stake in J M Smucker by 51.7% during the first quarter. LSV Asset Management now owns 3,823,806 shares of the company’s stock worth $445,473,000 after purchasing an additional 1,303,090 shares during the period. Wedge Capital Management L L P NC purchased a new position in J M Smucker during the first quarter worth about $44,078,000. Clark Capital Management Group Inc. purchased a new position in J M Smucker during the first quarter worth about $26,626,000. Robeco Institutional Asset Management B.V. raised its stake in J M Smucker by 100.3% during the second quarter. Robeco Institutional Asset Management B.V. now owns 382,750 shares of the company’s stock worth $44,089,000 after purchasing an additional 191,644 shares during the period. Finally, Geode Capital Management LLC raised its stake in J M Smucker by 12.1% during the fourth quarter. Geode Capital Management LLC now owns 1,582,207 shares of the company’s stock worth $147,679,000 after purchasing an additional 171,185 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SJM traded up $0.82 during trading on Friday, reaching $114.35. 550,900 shares of the company traded hands, compared to its average volume of 738,868. J M Smucker Co has a twelve month low of $91.32 and a twelve month high of $128.43. The stock has a market cap of $12.93 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 3.30 and a beta of 0.42. The stock has a 50-day simple moving average of $114.54 and a 200-day simple moving average of $115.48. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.59.

J M Smucker (NYSE:SJM) last announced its quarterly earnings results on Thursday, June 6th. The company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.11. J M Smucker had a net margin of 6.56% and a return on equity of 11.80%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the business earned $1.93 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts predict that J M Smucker Co will post 8.52 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be issued a $0.88 dividend. The ex-dividend date is Thursday, August 15th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.08%. This is a boost from J M Smucker’s previous quarterly dividend of $0.85. J M Smucker’s payout ratio is 41.01%.

A number of brokerages have commented on SJM. Wells Fargo & Co lifted their target price on shares of J M Smucker from $110.00 to $114.00 and gave the stock a “market perform” rating in a research note on Friday, June 7th. Morgan Stanley lifted their target price on shares of J M Smucker from $117.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, June 7th. Bank of America reiterated a “neutral” rating and set a $107.00 price target on shares of J M Smucker in a research report on Friday, May 17th. ValuEngine cut shares of J M Smucker from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research cut shares of J M Smucker from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $115.44.

In related news, CEO Mark T. Smucker sold 2,200 shares of J M Smucker stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $113.28, for a total value of $249,216.00. Following the completion of the transaction, the chief executive officer now owns 140,975 shares in the company, valued at $15,969,648. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark R. Belgya sold 750 shares of J M Smucker stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $113.28, for a total transaction of $84,960.00. Following the completion of the transaction, the insider now owns 54,942 shares of the company’s stock, valued at approximately $6,223,829.76. The disclosure for this sale can be found here. Insiders sold 3,269 shares of company stock valued at $372,201 in the last 90 days. Company insiders own 3.70% of the company’s stock.

About J M Smucker

The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.

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

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