Allworth Financial LP Has $900,000 Position in The J. M. Smucker Company (NYSE:SJM)

Allworth Financial LP lifted its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 373.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,812 shares of the company's stock after purchasing an additional 6,952 shares during the quarter. Allworth Financial LP's holdings in J. M. Smucker were worth $900,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SJM. State Street Corp raised its position in J. M. Smucker by 12.0% in the third quarter. State Street Corp now owns 7,111,023 shares of the company's stock worth $861,145,000 after acquiring an additional 762,746 shares in the last quarter. FMR LLC raised its position in J. M. Smucker by 40.0% in the third quarter. FMR LLC now owns 3,353,996 shares of the company's stock worth $406,169,000 after acquiring an additional 958,142 shares in the last quarter. Nordea Investment Management AB raised its position in J. M. Smucker by 16.5% in the fourth quarter. Nordea Investment Management AB now owns 1,361,902 shares of the company's stock worth $150,082,000 after acquiring an additional 192,748 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in J. M. Smucker by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 990,632 shares of the company's stock worth $119,966,000 after acquiring an additional 13,276 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in J. M. Smucker by 4.7% in the third quarter. JPMorgan Chase & Co. now owns 703,971 shares of the company's stock worth $85,251,000 after acquiring an additional 31,745 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SJM has been the topic of several research reports. TD Cowen cut shares of 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. Barclays cut their price objective on J. M. Smucker from $126.00 to $123.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 4th. Wells Fargo & Company boosted their price objective on J. M. Smucker from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, November 27th. Finally, Stifel Nicolaus cut their price objective on J. M. Smucker from $125.00 to $120.00 and set a "hold" rating on the stock in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $126.78.

Insider Activity at J. M. Smucker

In related news, CFO Tucker H. Marshall sold 994 shares of the business'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 completion of the sale, the chief financial officer now owns 18,734 shares of the company's stock, valued at approximately $2,116,942. The trade was a 5.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.40% of the stock is currently owned by company insiders.

J. M. Smucker Stock Up 3.1 %

NYSE:SJM traded up $3.34 on Friday, hitting $110.64. 777,508 shares of the company's stock traded hands, compared to its average volume of 1,083,352. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89. The J. M. Smucker Company has a 1 year low of $98.77 and a 1 year high of $127.59. The firm has a 50-day moving average price of $106.33 and a 200-day moving average price of $113.54. The company has a market cap of $11.77 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 3.75 and a beta of 0.27.

J. M. Smucker (NYSE:SJM - Get Free Report) last released its earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, beating 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 previous year, the business posted $2.59 EPS. The business's revenue for the quarter was up 17.2% on a year-over-year basis. Equities analysts anticipate that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $4.32 annualized dividend and a dividend yield of 3.90%. J. M. Smucker's payout ratio is 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.