Delta Investment Management LLC Cuts Stock Position in The J. M. Smucker Company (NYSE:SJM)

Delta Investment Management LLC reduced its position in The J. M. Smucker Company (NYSE:SJM) by 15.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,989 shares of the company’s stock after selling 563 shares during the quarter. Delta Investment Management LLC’s holdings in J. M. Smucker were worth $378,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wolverine Asset Management LLC lifted its stake in shares of J. M. Smucker by 300.0% in the 4th quarter. Wolverine Asset Management LLC now owns 200 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the last quarter. Valley National Advisers Inc. raised its position in J. M. Smucker by 2,266.7% during the 4th quarter. Valley National Advisers Inc. now owns 284 shares of the company’s stock valued at $35,000 after purchasing an additional 272 shares during the last quarter. Lindbrook Capital LLC raised its position in J. M. Smucker by 77.1% during the 4th quarter. Lindbrook Capital LLC now owns 409 shares of the company’s stock valued at $52,000 after purchasing an additional 178 shares during the last quarter. Planned Solutions Inc. bought a new position in J. M. Smucker during the 4th quarter valued at approximately $59,000. Finally, Oliver Lagore Vanvalin Investment Group raised its position in J. M. Smucker by 23.2% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 531 shares of the company’s stock valued at $65,000 after purchasing an additional 100 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SJM has been the topic of several recent research reports. Barclays upped their price target on J. M. Smucker from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. increased their price target on J. M. Smucker from $126.00 to $128.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Citigroup lowered their price target on J. M. Smucker from $153.00 to $152.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Stifel Nicolaus raised J. M. Smucker from a “hold” rating to a “buy” rating and set a $135.00 target price on the stock in a report on Wednesday, February 28th. Finally, StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, April 8th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $137.47.

Insider Activity

In other J. M. Smucker news, insider Jeannette L. Knudsen sold 3,200 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $124.77, for a total transaction of $399,264.00. Following the completion of the sale, the insider now directly owns 8,946 shares of the company’s stock, valued at approximately $1,116,192.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.50% of the company’s stock.

J. M. Smucker Trading Down 1.4 %

NYSE:SJM traded down $1.58 during trading hours on Friday, hitting $113.60. The company had a trading volume of 1,359,460 shares, compared to its average volume of 1,196,564. The company has a current ratio of 0.78, a quick ratio of 0.38 and a debt-to-equity ratio of 1.07. The company has a 50-day moving average of $120.10 and a 200 day moving average of $120.62. The company has a market cap of $12.06 billion, a P/E ratio of -129.09, a P/E/G ratio of 1.84 and a beta of 0.21. The J. M. Smucker Company has a 1 year low of $107.33 and a 1 year high of $159.92.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Tuesday, February 27th. The company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.21. J. M. Smucker had a positive return on equity of 14.29% and a negative net margin of 1.24%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the company earned $2.21 EPS. J. M. Smucker’s revenue was up .6% on a year-over-year basis. Sell-side analysts expect that The J. M. Smucker Company will post 9.6 earnings per share for the current year.

J. M. Smucker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be issued a $1.06 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.73%. J. M. Smucker’s payout ratio is currently -481.81%.

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.