Allstate Corp Makes New Investment in The J. M. Smucker Company (NYSE:SJM)

Allstate Corp purchased a new stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,279 shares of the company's stock, valued at approximately $361,000.

Several other large investors have also added to or reduced their stakes in the business. Capital Advisors Ltd. LLC lifted its stake in J. M. Smucker by 188.8% during the 4th quarter. Capital Advisors Ltd. LLC now owns 231 shares of the company's stock valued at $25,000 after acquiring an additional 151 shares in the last quarter. Kentucky Trust Co bought a new position in J. M. Smucker in the 4th quarter worth approximately $28,000. Kieckhefer Group LLC purchased a new position in shares of J. M. Smucker in the fourth quarter valued at $33,000. Hantz Financial Services Inc. bought a new position in shares of J. M. Smucker in the fourth quarter valued at approximately $39,000. Finally, Sandy Spring Bank grew its position in shares of J. M. Smucker by 1,365.5% during the 4th quarter. Sandy Spring Bank now owns 425 shares of the company's stock valued at $47,000 after purchasing an additional 396 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

J. M. Smucker Stock Performance

Shares of J. M. Smucker stock traded down $3.29 during trading on Friday, hitting $115.03. 1,550,735 shares of the company's stock were exchanged, compared to its average volume of 1,176,832. The stock has a market capitalization of $12.24 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 3.91 and a beta of 0.35. The business has a 50-day simple moving average of $109.70 and a 200-day simple moving average of $112.14. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58. The J. M. Smucker Company has a 52-week low of $98.77 and a 52-week high of $125.42.

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J. M. Smucker (NYSE:SJM - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.24. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.23 billion. On average, research analysts forecast that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $1.08 per share. The ex-dividend date was Friday, February 14th. This represents a $4.32 annualized dividend and a dividend yield of 3.76%. J. M. Smucker's dividend payout ratio is currently -179.25%.

Analyst Ratings Changes

SJM has been the subject of several research analyst reports. Morgan Stanley assumed coverage on J. M. Smucker in a research note on Monday, March 24th. They set an "overweight" rating and a $123.00 price target for the company. StockNews.com raised J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Friday, March 28th. Stifel Nicolaus decreased their target price on shares of J. M. Smucker from $125.00 to $120.00 and set a "hold" rating for the company in a research note on Friday, January 24th. TD Cowen downgraded shares of J. M. Smucker from a "buy" rating to a "hold" rating and dropped their target price for the stock from $130.00 to $121.00 in a research note on Wednesday, January 8th. Finally, Barclays decreased their target price on J. M. Smucker from $123.00 to $119.00 and set an "equal weight" rating for the company in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $125.67.

Insiders Place Their Bets

In other J. M. Smucker news, CFO Tucker H. Marshall sold 5,028 shares of J. M. Smucker stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $113.36, for a total value of $569,974.08. Following the transaction, the chief financial officer now directly owns 13,263 shares in the company, valued at approximately $1,503,493.68. This trade represents a 27.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jill R. Penrose sold 5,117 shares of the firm's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $116.26, for a total transaction of $594,902.42. Following the completion of the sale, the insider now owns 8,794 shares of the company's stock, valued at approximately $1,022,390.44. The trade was a 36.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.40% of the company's stock.

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.