The stock price of the JM Smucker Company (NYSE: SJM) fell 2.6% at midday Tuesday after an insider sold shares of the company. The stock traded at $ 130.79 and last traded at $ 131.58. 19,958 shares traded at midday, a drop of 98% from the average session volume of 900,381 shares. The stock had previously closed at $ 135.04. Specifically, insider Geoff E. Tanner sold 10,039 shares of the stock in a trade on Friday, December 17. The shares were sold at an average price of $ 138.23, for a total trade of $ 1,387,690.97. The sale was disclosed in a legal file with the Securities & Exchange Commission, accessible through this link. In addition, CFO Tucker H. Marshall sold 10,000 shares of the company in a trade on Friday, December 17. The stock was sold for an average price of $ 138.97, for a total trade of $ 1,389,700.00. Disclosure of this sale can be found here. 3.70% of the shares are currently held by company insiders.
Several brokerages recently commented on SJM. Citigroup raised its price target on JM Smucker’s stock from $ 132.00 to $ 138.00 and gave the company a “neutral” rating in a research note on Wednesday, November 24. Stifel Nicolaus raised his price target on JM Smucker’s stock from $ 125.00 to $ 136.00 and gave the company a “hold” rating in a research note on Wednesday, November 24. Deutsche Bank Aktiengesellschaft lowered its price target on JM Smucker shares from $ 140.00 to $ 132.00 and set a “conservation” rating for the company in a research note on Friday August 27. Credit Suisse Group raised its price target on JM Smucker’s shares from $ 125 to $ 130.00 and rated the company “neutral” in a report released on Wednesday, November 24. Finally, Morgan Stanley raised its price target on JM Smucker’s stock from $ 117.00 to $ 125 and rated the company “underweight” in a report released on Wednesday, November 24. One research analyst rated the stock with a sell rating, seven assigned a conservation rating, and two assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $ 134.45.
The company has a quick ratio of 0.48, a current ratio of 1.06, and a debt ratio of 0.52. The company’s 50-day moving average is $ 127.41 and its 200-day moving average is $ 127.73. The company has a market cap of $ 14.26 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 13.31 and a beta of 0.32.
JM Smucker (NYSE: SJM) last released its results on Tuesday, November 23. The company reported earnings per share of $ 2.43 for the quarter, beating the consensus estimate of $ 2.04 by $ 0.39. The company posted revenue of $ 2.05 billion in the quarter, compared to analysts’ estimates of $ 1.96 billion. JM Smucker had a net margin of 9.72% and a return on equity of 11.60%. The company’s revenue for the quarter increased 0.8% from the same quarter last year. In the same quarter of the previous year, the company made profit of $ 2.39 per share. As a group, stock analysts predict that The JM Smucker Company will post earnings per share of 8.61 for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 1. Investors of record on Friday, November 12 received a dividend of $ 0.99. This represents an annualized dividend of $ 3.96 and a return of 3.01%. The ex-dividend date of this dividend was Wednesday, November 10. JM Smucker’s payout ratio is currently 56.65%.
JM Smucker announced that its board of directors had authorized Friday, October 22 a share buyback plan allowing the company to buy back 5,000,000 shares. This buyback authorization allows the company to buy back its shares through market purchases. Share buyback plans are usually a sign that company management believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently changed their holdings in SJM. Financial Insights Inc. acquired a new position in JM Smucker in the second quarter valued at approximately $ 26,000. TCTC Holdings LLC increased its stake in JM Smucker by 909.1% in the third 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 JM Smucker in the third quarter valued at approximately $ 28,000. Itau Unibanco Holding SA acquired a new position in JM Smucker in the second quarter for a value of approximately $ 33,000. Finally, HM Payson & Co. increased its stake in JM Smucker by 27.1% in the third 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 held by institutional investors.
JM Smucker Company Profile (NYSE: SJM)
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 branded coffee, Dunkin ‘Donuts and Café Bustelo.
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