Kingsview Wealth Management LLC Acquires 6,898 Shares of The J. M. Smucker Company (NYSE:SJM)

Kingsview Wealth Management LLC lifted its holdings in The J. M. Smucker Company (NYSE:SJM) by 9.4% in the fourth quarter, HoldingsChannel reports. The fund owned 80,113 shares of the company’s stock after buying an additional 6,898 shares during the period. Kingsview Wealth Management LLC’s holdings in J. M. Smucker were worth $8,822,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Venturi Wealth Management LLC boosted its position in J. M. Smucker by 1,329.4% during the third quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after buying an additional 226 shares during the period. Kieckhefer Group LLC purchased a new stake in J. M. Smucker during the 4th quarter valued at about $33,000. Catalyst Capital Advisors LLC bought a new position in J. M. Smucker during the 3rd quarter worth approximately $39,000. Hantz Financial Services Inc. purchased a new position in J. M. Smucker in the 4th quarter worth approximately $39,000. Finally, Eastern Bank purchased a new stake in shares of J. M. Smucker during the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SJM. Stifel Nicolaus decreased their target price on shares of J. M. Smucker from $125.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. TD Cowen downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and lowered their price objective for the company from $130.00 to $121.00 in a research note on Wednesday, January 8th. Wells Fargo & Company raised their target price on J. M. Smucker from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Finally, Barclays lowered their price target on J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $126.78.

Insider Transactions at J. M. Smucker

In related news, CFO Tucker H. Marshall sold 994 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $113.00, for a total value of $112,322.00. Following the completion of the transaction, the chief financial officer now directly owns 18,734 shares in the company, valued at $2,116,942. The trade was a 5.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.40% of the company’s stock.

J. M. Smucker Price Performance

SJM opened at $103.27 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89. The stock has a fifty day simple moving average of $108.61 and a two-hundred day simple moving average of $114.46. The company has a market cap of $10.99 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 3.15 and a beta of 0.27. The J. M. Smucker Company has a 12-month low of $99.81 and a 12-month high of $133.23.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the business earned $2.59 earnings per share. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. Research analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $1.08 per share. The ex-dividend date is Friday, February 14th. This represents a $4.32 dividend on an annualized basis and a yield of 4.18%. J. M. Smucker’s dividend payout ratio is currently 87.45%.

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.