PNC Financial Services Group Inc. Decreases Stock Holdings in The J. M. Smucker Company $SJM

PNC Financial Services Group Inc. trimmed its position in shares of The J. M. Smucker Company (NYSE:SJM) by 4.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 110,928 shares of the company’s stock after selling 5,707 shares during the period. PNC Financial Services Group Inc.’s holdings in J. M. Smucker were worth $10,850,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Aviance Capital Partners LLC lifted its position in shares of J. M. Smucker by 17.3% during the fourth quarter. Aviance Capital Partners LLC now owns 3,387 shares of the company’s stock valued at $331,000 after buying an additional 500 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of J. M. Smucker by 1.7% during the fourth quarter. HighTower Advisors LLC now owns 59,628 shares of the company’s stock valued at $5,832,000 after buying an additional 989 shares during the last quarter. Aegis Wealth Management Inc. purchased a new stake in shares of J. M. Smucker during the fourth quarter valued at about $581,000. North Dakota State Investment Board purchased a new stake in shares of J. M. Smucker during the fourth quarter valued at about $347,000. Finally, Canada Post Corp Registered Pension Plan lifted its position in shares of J. M. Smucker by 32.2% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 2,338 shares of the company’s stock valued at $229,000 after buying an additional 570 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Stock Performance

Shares of J. M. Smucker stock opened at $103.46 on Friday. The J. M. Smucker Company has a 52 week low of $88.25 and a 52 week high of $119.39. The company has a 50 day moving average price of $97.65 and a 200 day moving average price of $102.07. The company has a quick ratio of 0.35, a current ratio of 0.84 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $11.03 billion, a P/E ratio of -8.78, a PEG ratio of 6.98 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Thursday, February 26th. The company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.11. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the company earned $2.61 EPS. J. M. Smucker’s quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts expect that The J. M. Smucker Company will post 9.03 EPS for the current year.

J. M. Smucker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, May 15th. J. M. Smucker’s dividend payout ratio is -37.32%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of J. M. Smucker in a research report on Monday, April 20th. Evercore started coverage on shares of J. M. Smucker in a research report on Friday, May 15th. They issued an “outperform” rating and a $117.00 price objective for the company. BNP Paribas Exane set a $125.00 price objective on shares of J. M. Smucker in a research report on Thursday, April 9th. BTIG Research started coverage on shares of J. M. Smucker in a research report on Monday, April 13th. They issued a “buy” rating and a $120.00 price objective for the company. Finally, Wall Street Zen lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $116.35.

J. M. Smucker Profile

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company’s main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker’s core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker’s® fruit spreads, Jif® peanut butter, Folgers® and Dunkin’® coffees, and Café Bustelo® coffee.