Hourglass Capital LLC Purchases Shares of 25,860 The J. M. Smucker Company (NYSE:SJM)

Hourglass Capital LLC purchased a new stake in shares of The J. M. Smucker Company (NYSE:SJM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 25,860 shares of the company’s stock, valued at approximately $2,820,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. National Bank of Canada FI grew its stake in shares of J. M. Smucker by 80.7% in the second quarter. National Bank of Canada FI now owns 45,233 shares of the company’s stock worth $4,998,000 after purchasing an additional 20,201 shares in the last quarter. Strategy Asset Managers LLC bought a new position in J. M. Smucker in the 2nd quarter valued at about $237,000. Guidance Capital Inc. grew its position in J. M. Smucker by 13.0% in the 2nd quarter. Guidance Capital Inc. now owns 7,488 shares of the company’s stock valued at $883,000 after buying an additional 859 shares in the last quarter. Resonant Capital Advisors LLC increased its stake in J. M. Smucker by 2.5% during the 2nd quarter. Resonant Capital Advisors LLC now owns 14,693 shares of the company’s stock valued at $1,602,000 after buying an additional 365 shares during the period. Finally, D.A. Davidson & CO. raised its position in shares of J. M. Smucker by 12.0% during the 2nd quarter. D.A. Davidson & CO. now owns 34,468 shares of the company’s stock worth $3,758,000 after buying an additional 3,702 shares in the last quarter. 81.66% of the stock is owned by institutional investors.

J. M. Smucker Price Performance

SJM stock opened at $121.96 on Friday. The J. M. Smucker Company has a one year low of $105.69 and a one year high of $142.24. The firm has a 50-day moving average of $116.82 and a two-hundred day moving average of $116.51. The firm has a market capitalization of $12.98 billion, a PE ratio of 17.02, a P/E/G ratio of 3.19 and a beta of 0.24. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.17 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned $2.21 EPS. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. On average, analysts forecast that The J. M. Smucker Company will post 9.82 earnings per share for the current year.

J. M. Smucker Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were issued a dividend of $1.08 per share. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.54%. J. M. Smucker’s payout ratio is currently 60.67%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SJM shares. Barclays lowered their price objective on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Friday, August 30th. Argus lowered their price target on J. M. Smucker from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, June 13th. TD Cowen dropped their price objective on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and set a $121.00 target price on shares of J. M. Smucker in a research note on Thursday, August 29th. Finally, Wells Fargo & Company dropped their price target on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, J. M. Smucker presently has an average rating of “Hold” and a consensus price target of $127.25.

Insider Activity at J. M. Smucker

In other J. M. Smucker news, CEO Mark T. Smucker sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the completion of the sale, the chief executive officer now directly owns 78,757 shares in the company, valued at approximately $8,675,871.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.40% of the stock is owned by insiders.

J. M. Smucker 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.