Catawba Capital Management VA Has $953,000 Position in J.M. Smucker Company (The) (NYSE:SJM)
Catawba Capital Management VA held its position in J.M. Smucker Company (The) (NYSE:SJM) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,050 shares of the company’s stock at the end of the second quarter. Catawba Capital Management VA’s holdings in J.M. Smucker Company (The) were worth $953,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of SJM. Harbour Capital Advisors LLC purchased a new position in J.M. Smucker Company (The) during the first quarter worth approximately $126,000. Fenimore Asset Management Inc. bought a new stake in shares of J.M. Smucker Company (The) during the first quarter valued at about $200,000. Schnieders Capital Management LLC bought a new stake in shares of J.M. Smucker Company (The) during the first quarter valued at about $217,000. Advisory Services Network LLC bought a new stake in shares of J.M. Smucker Company (The) during the first quarter valued at about $221,000. Finally, HPM Partners LLC bought a new stake in shares of J.M. Smucker Company (The) during the first quarter valued at about $229,000. Hedge funds and other institutional investors own 75.47% of the company’s stock.
Shares of J.M. Smucker Company (NYSE:SJM) traded down 0.64% during mid-day trading on Tuesday, hitting $121.79. 594,497 shares of the stock were exchanged. J.M. Smucker Company has a 12 month low of $114.31 and a 12 month high of $156.23. The stock’s 50 day moving average is $119.31 and its 200 day moving average is $129.04. The firm has a market cap of $13.82 billion, a P/E ratio of 23.88 and a beta of 0.62.
J.M. Smucker Company (The) (NYSE:SJM) last released its quarterly earnings results on Thursday, June 8th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.08. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.77 billion. J.M. Smucker Company (The) had a return on equity of 12.63% and a net margin of 8.01%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 EPS. Analysts expect that J.M. Smucker Company will post $7.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Wednesday, August 9th. This is an increase from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. J.M. Smucker Company (The)’s dividend payout ratio (DPR) is currently 58.82%.
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Several equities research analysts have issued reports on SJM shares. Zacks Investment Research upgraded shares of J.M. Smucker Company (The) from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Credit Suisse Group restated a “neutral” rating and issued a $120.00 price objective (down from $126.00) on shares of J.M. Smucker Company (The) in a report on Monday, July 3rd. They noted that the move was a valuation call. Citigroup Inc. lowered their price objective on shares of J.M. Smucker Company (The) from $161.00 to $155.00 and set a “buy” rating for the company in a report on Tuesday, May 9th. Morgan Stanley lowered shares of J.M. Smucker Company (The) from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $132.00 to $126.00 in a report on Monday, April 10th. Finally, Jefferies Group LLC raised shares of J.M. Smucker Company (The) from a “hold” rating to a “buy” rating and lifted their target price for the stock from $130.00 to $140.00 in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. J.M. Smucker Company (The) presently has an average rating of “Hold” and a consensus target price of $132.82.
In related news, SVP Jill R. Penrose sold 550 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $120.09, for a total transaction of $66,049.50. Following the transaction, the senior vice president now owns 13,475 shares in the company, valued at approximately $1,618,212.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sandra Pianalto purchased 250 shares of J.M. Smucker Company (The) stock in a transaction dated Tuesday, June 27th. The stock was acquired at an average cost of $120.61 per share, with a total value of $30,152.50. Following the completion of the acquisition, the director now directly owns 250 shares in the company, valued at $30,152.50. The disclosure for this purchase can be found here. Insiders have sold a total of 16,030 shares of company stock worth $1,948,195 in the last 90 days. 3.50% of the stock is currently owned by company insiders.
About J.M. Smucker Company (The)
The J. M. Smucker Company is a manufacturer and marketer of branded food and beverage products and pet food and pet snacks in North America. The Company’s segments include U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Foodservice. The Company’s U.S. retail market segments consist of the sale of branded food products to consumers through retail outlets in North America.
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