Golden State Wealth Management LLC Makes New Investment in The J. M. Smucker Company (NYSE:SJM)

Golden State Wealth Management LLC purchased a new stake in shares of The J. M. Smucker Company (NYSE:SJM) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 834 shares of the company’s stock, valued at approximately $92,000.

Several other large investors have also recently modified their holdings of SJM. Venturi Wealth Management LLC increased its stake in J. M. Smucker by 1,329.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after purchasing an additional 226 shares in the last quarter. Kieckhefer Group LLC bought a new position in shares of J. M. Smucker in the fourth quarter worth approximately $33,000. Catalyst Capital Advisors LLC purchased a new stake in shares of J. M. Smucker during the third quarter valued at approximately $39,000. Hantz Financial Services Inc. bought a new stake in shares of J. M. Smucker during the fourth quarter valued at approximately $39,000. Finally, Eastern Bank purchased a new position in J. M. Smucker in the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

SJM has been the topic of several recent analyst reports. Stifel Nicolaus cut their target price on 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. Wells Fargo & Company increased their price objective on J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Barclays decreased their target price 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. Finally, TD Cowen downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price target for the company from $130.00 to $121.00 in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, J. M. Smucker presently has a consensus rating of “Hold” and a consensus price target of $126.78.

Insiders Place Their Bets

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 stock was sold at an average price of $113.00, for a total transaction 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 approximately $2,116,942. The trade was a 5.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.40% of the company’s stock.

J. M. Smucker Price Performance

NYSE SJM opened at $103.27 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $10.99 billion, a P/E ratio of 20.90, a PEG ratio of 3.15 and a beta of 0.27. The company has a 50-day moving average price of $108.61 and a 200-day moving average price of $114.44. The J. M. Smucker Company has a 52 week low of $99.81 and a 52 week high of $133.23.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.25. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The business had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the firm earned $2.59 earnings per share. The company’s quarterly revenue was up 17.2% on a year-over-year basis. Equities research analysts anticipate that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Friday, February 14th. J. M. Smucker’s dividend payout ratio is presently 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.