Guggenheim Capital LLC Reduces Stock Holdings in J M Smucker Co (NYSE:SJM)
Guggenheim Capital LLC reduced its holdings in J M Smucker Co (NYSE:SJM) by 20.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,070 shares of the company’s stock after selling 28,586 shares during the period. Guggenheim Capital LLC owned about 0.10% of J M Smucker worth $12,217,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Optimal Asset Management Inc. boosted its holdings in J M Smucker by 207.9% during the first quarter. Optimal Asset Management Inc. now owns 46,227 shares of the company’s stock worth $5,131,000 after buying an additional 31,214 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in J M Smucker by 62.0% during the first quarter. State of Tennessee Treasury Department now owns 44,017 shares of the company’s stock worth $4,886,000 after buying an additional 16,845 shares in the last quarter. Quantum Capital Management boosted its holdings in J M Smucker by 24.8% during the first quarter. Quantum Capital Management now owns 12,521 shares of the company’s stock worth $1,390,000 after buying an additional 2,491 shares in the last quarter. Verus Capital Partners LLC purchased a new stake in J M Smucker during the first quarter worth $240,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in J M Smucker by 14.1% during the first quarter. The Manufacturers Life Insurance Company now owns 123,683 shares of the company’s stock worth $13,729,000 after buying an additional 15,280 shares in the last quarter. 77.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE SJM traded down $1.73 during mid-day trading on Friday, reaching $104.01. The company’s stock had a trading volume of 9,382 shares, compared to its average volume of 1,218,327. The stock has a 50-day moving average of $110.86 and a two-hundred day moving average of $108.89. The stock has a market capitalization of $12.06 billion, a P/E ratio of 15.48, a P/E/G ratio of 5.98 and a beta of 0.16. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.68 and a current ratio of 1.24. J M Smucker Co has a 1-year low of $91.88 and a 1-year high of $125.62.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Thursday, May 14th. J M Smucker’s dividend payout ratio (DPR) is 40.18%.
A number of analysts recently issued reports on SJM shares. JPMorgan Chase & Co. increased their price target on shares of J M Smucker from $108.00 to $123.00 and gave the stock a “neutral” rating in a report on Friday, April 17th. Sanford C. Bernstein downgraded shares of J M Smucker from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $105.00 to $93.00 in a report on Thursday, June 11th. Barclays restated a “hold” rating and set a $112.00 price objective on shares of J M Smucker in a research report on Thursday, February 27th. ValuEngine cut shares of J M Smucker from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. Finally, Stifel Nicolaus upped their price objective on shares of J M Smucker from $110.00 to $115.00 and gave the stock a “hold” rating in a research report on Friday, June 5th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $113.46.
In related news, insider Mark R. Belgya sold 7,807 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $108.74, for a total value of $848,933.18. Following the completion of the sale, the insider now owns 43,604 shares of the company’s stock, valued at $4,741,498.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark R. Belgya sold 750 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $117.12, for a total transaction of $87,840.00. Following the completion of the sale, the chief financial officer now directly owns 48,192 shares of the company’s stock, valued at approximately $5,644,247.04. The disclosure for this sale can be found here. Insiders sold 10,057 shares of company stock valued at $1,101,773 in the last three months. 3.70% of the stock is currently owned by insiders.
About J M Smucker
The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.
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