abrdn plc Has $4.07 Million Stake in The J. M. Smucker Company (NYSE:SJM)

abrdn plc reduced its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 37,146 shares of the company's stock after selling 2,827 shares during the quarter. abrdn plc's holdings in J. M. Smucker were worth $4,072,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its holdings in J. M. Smucker by 1,329.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company's stock worth $29,000 after purchasing an additional 226 shares during the last quarter. Kieckhefer Group LLC acquired a new stake in J. M. Smucker in the 4th quarter worth approximately $33,000. Catalyst Capital Advisors LLC acquired a new stake in J. M. Smucker in the 3rd quarter worth approximately $39,000. Eastern Bank acquired a new stake in J. M. Smucker in the 3rd quarter worth approximately $40,000. Finally, Hantz Financial Services Inc. acquired a new stake in J. M. Smucker in the 4th quarter worth approximately $39,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at J. M. Smucker

In related news, CFO Tucker H. Marshall sold 994 shares of the company's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $113.00, for a total value of $112,322.00. Following the sale, the chief financial officer now directly owns 18,734 shares in the company, valued at $2,116,942. This represents a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.40% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on SJM. Wells Fargo & Company boosted their target price on J. M. Smucker from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, November 27th. Barclays dropped their price target on J. M. Smucker from $126.00 to $123.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 4th. Stifel Nicolaus dropped their price target on J. M. Smucker from $125.00 to $120.00 and set a "hold" rating on the stock in a research report on Friday, January 24th. Finally, TD Cowen downgraded J. M. Smucker from a "buy" rating to a "hold" rating and dropped their price target for the stock from $130.00 to $121.00 in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, J. M. Smucker currently has a consensus rating of "Hold" and an average target price of $126.78.

J. M. Smucker Price Performance

NYSE:SJM traded up $1.40 during trading hours on Thursday, reaching $105.28. The company had a trading volume of 1,094,378 shares, compared to its average volume of 1,009,775. The stock has a 50-day moving average of $107.56 and a two-hundred day moving average of $114.12. The J. M. Smucker Company has a one year low of $99.81 and a one year high of $127.95. The firm has a market capitalization of $11.20 billion, a PE ratio of 21.31, a PEG ratio of 3.15 and a beta of 0.27. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its earnings results on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.51 by $0.25. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The company had revenue of $2.27 billion for the quarter, compared to analysts' expectations of $2.27 billion. During the same quarter in the prior year, the business earned $2.59 earnings per share. The business's revenue for the quarter was up 17.2% on a year-over-year basis. Analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $1.08 per share. The ex-dividend date is Friday, February 14th. This represents a $4.32 annualized dividend and a yield of 4.10%. J. M. Smucker's dividend payout ratio is presently 87.45%.

J. M. Smucker Company 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.