SlateStone Wealth LLC Cuts Stake in The J. M. Smucker Company (NYSE:SJM)

SlateStone Wealth LLC cut its stake in The J. M. Smucker Company (NYSE:SJM) by 16.8% during the 4th quarter, HoldingsChannel reports. The firm owned 3,320 shares of the company’s stock after selling 670 shares during the quarter. SlateStone Wealth LLC’s holdings in J. M. Smucker were worth $366,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. boosted its position in shares of J. M. Smucker by 17.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 660 shares of the company’s stock worth $73,000 after buying an additional 100 shares during the period. Trust Co. of Vermont boosted its position in shares of J. M. Smucker by 4.1% during the fourth quarter. Trust Co. of Vermont now owns 2,731 shares of the company’s stock worth $301,000 after buying an additional 108 shares during the period. Conestoga Capital Advisors LLC boosted its position in shares of J. M. Smucker by 6.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,845 shares of the company’s stock worth $203,000 after buying an additional 115 shares during the period. Code Waechter LLC boosted its position in shares of J. M. Smucker by 2.5% during the fourth quarter. Code Waechter LLC now owns 5,023 shares of the company’s stock worth $553,000 after buying an additional 124 shares during the period. Finally, Trivant Custom Portfolio Group LLC boosted its position in shares of J. M. Smucker by 35.7% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 475 shares of the company’s stock worth $52,000 after buying an additional 125 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Price Performance

NYSE SJM opened at $111.62 on Monday. The stock has a market capitalization of $11.88 billion, a P/E ratio of 22.59, a P/E/G ratio of 3.91 and a beta of 0.28. The J. M. Smucker Company has a 1 year low of $98.77 and a 1 year high of $127.59. The business’s fifty day moving average is $106.53 and its two-hundred day moving average is $112.58. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Thursday, February 27th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.24. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.23 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. On average, research analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.87%. The ex-dividend date was Friday, February 14th. J. M. Smucker’s dividend payout ratio (DPR) is currently -179.25%.

Insider Buying and Selling at J. M. Smucker

In other J. M. Smucker news, CFO Tucker H. Marshall sold 994 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $113.00, for a total transaction of $112,322.00. Following the sale, the chief financial officer now directly owns 18,734 shares of the company’s stock, valued at $2,116,942. The trade was a 5.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

SJM has been the subject of several analyst reports. Wells Fargo & Company boosted their price objective on J. M. Smucker from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. DA Davidson cut their target price on J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. TD Cowen downgraded J. M. Smucker from a “buy” rating to a “hold” rating and cut their target price for the stock from $130.00 to $121.00 in a research report on Wednesday, January 8th. Finally, Barclays cut their target price on J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, J. M. Smucker presently has an average rating of “Hold” and a consensus target price of $126.00.

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.