Insider Sale: JM Smucker Company Insider (NYSE: SJM) Sells 10,039 Shares

JM Smucker Company (NYSE: SJM) insider Geoff E. Tanner sold 10,039 shares of the company in a trade that took place on Friday, December 17. The stock was sold for an average price of $ 138.23, for a total trade of $ 1,387,690.97. The sale was disclosed in a file with the Securities & Exchange Commission, which is available on the SEC website.

SJM shares traded down $ 1.37 at midday Monday, reaching $ 135.04. 882,749 shares were traded, for an average volume of 932,274. The company has a fifty-day moving average of $ 127.14 and a 200-day moving average of $ 127.75. The company has a quick ratio of 0.48, a current ratio of 1.06, and a debt ratio of 0.52. JM Smucker has a 52 week low of $ 110.53 and a 52 week high of $ 140.65. The company has a market cap of $ 14.63 billion, a PE ratio of 19.52, a price / earnings-growth ratio of 12.74 and a beta of 0.32.

JM Smucker (NYSE: SJM) last released its results on Tuesday, November 23. The company reported earnings per share (EPS) of $ 2.43 for the quarter, beating the consensus estimate of $ 2.04 by $ 0.39. JM Smucker had a net margin of 9.72% and a return on equity of 11.60%. The company posted revenue of $ 2.05 billion for the quarter, compared to analysts’ estimates of $ 1.96 billion. During the same period of the previous year, the company posted EPS of $ 2.39. The company’s revenue for the quarter increased 0.8% year-over-year. Stock analysts predict The JM Smucker Company will post 8.61 EPS for the current year.

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Knightscope, Inc., a developer of advanced physical security technologies focused on improving security operations in the United States, has begun offering up to $ 40 million of Class A common stock, with the shares to be listed immediately after the close of NASDAQ under the ticker symbol “KSCP.”

JM Smucker announced that its board of directors launched a share buyback program on Friday, October 22, which allows the company to repurchase 5,000,000 outstanding shares. This repurchase authorization allows the company to acquire shares of its capital through purchases on the open market. Share buyback programs typically indicate that company management believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 1. Shareholders of record on Friday, November 12 received a dividend of $ 0.99 per share. This represents an annualized dividend of $ 3.96 and a dividend yield of 2.93%. The ex-dividend date was Wednesday, November 10. JM Smucker’s payout ratio is currently 56.65%.

Hedge funds recently bought and sold shares in the company. Financial Insights Inc. purchased a new equity stake in JM Smucker during the second quarter valued at approximately $ 26,000. TCTC Holdings LLC increased its position in JM Smucker shares by 909.1% during the 3rd quarter. TCTC Holdings LLC now owns 222 shares of the company valued at $ 27,000 after purchasing an additional 200 shares in the last quarter. Koshinski Asset Management Inc. acquired a new position in shares of JM Smucker during the 3rd quarter valued at approximately $ 28,000. Itau Unibanco Holding SA acquired a new position in shares of JM Smucker during the 2nd quarter valued at approximately $ 33,000. Finally, HM Payson & Co. increased its position in JM Smucker shares by 27.1% during the 3rd quarter. HM Payson & Co. now owns 366 shares of the company valued at $ 44,000 after purchasing 78 additional shares in the last quarter. 86.03% of the shares are currently held by institutional investors and hedge funds.

A number of equity research analysts have weighed on the stock recently. Credit Suisse Group increased its price target on JM Smucker shares from $ 125.00 to $ 130.00 and rated the company “neutral” in a report released on Wednesday, November 24. Zacks Investment Research downgraded JM Smucker’s shares from a “hold” rating to a “buy” rating and set a price target of $ 137.00 on the stock in a report released on Tuesday, November 30. Citigroup raised its price target on JM Smucker’s stock from $ 132.00 to $ 138.00 and rated the company “neutral” in a report released on Wednesday, November 24. Barclays raised its price target for JM Smucker shares from $ 130.00 to $ 140.00 and gave the company an “equal weight” rating in a report released on Wednesday, November 24. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on JM Smucker’s stock from $ 140.00 to $ 132.00 and set a “hold” rating on the stock in a report released on Friday August 27. One research analyst rated the stock with a sell rating, seven assigned a conservation rating, and two assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $ 134.45.

JM Smucker Company Profile

JM Smucker Co is engaged in the manufacture and marketing of food and beverage products. It operates in the following segments: US Retail Coffee, US Retail Consumer Foods, US Retail Pet Foods and International and Away From Home. The US retail coffee segment includes domestic sales of Folgers brand coffee, Dunkin ‘Donuts and Café Bustelo.

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