Bank of Montreal Can Reduces Holdings in The J. M. Smucker Company (NYSE:SJM)

Bank of Montreal Can reduced its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 66.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 243,245 shares of the company's stock after selling 489,099 shares during the period. Bank of Montreal Can owned approximately 0.23% of J. M. Smucker worth $26,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of J. M. Smucker by 3.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 324,381 shares of the company's stock valued at $35,721,000 after buying an additional 11,339 shares in the last quarter. Nordea Investment Management AB raised its position in shares of J. M. Smucker by 16.5% during the 4th quarter. Nordea Investment Management AB now owns 1,361,902 shares of the company's stock valued at $150,082,000 after purchasing an additional 192,748 shares during the period. Miracle Mile Advisors LLC purchased a new position in shares of J. M. Smucker during the 4th quarter valued at $1,273,000. Signal Advisors Wealth LLC boosted its holdings in J. M. Smucker by 336.3% in the 4th quarter. Signal Advisors Wealth LLC now owns 12,950 shares of the company's stock worth $1,426,000 after buying an additional 9,982 shares during the period. Finally, Douglas Lane & Associates LLC increased its stake in J. M. Smucker by 6.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 271,299 shares of the company's stock worth $29,875,000 after buying an additional 16,963 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

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J. M. Smucker Stock Up 0.2 %

Shares of SJM traded up $0.26 during mid-day trading on Wednesday, hitting $116.53. 167,485 shares of the company traded hands, compared to its average volume of 1,286,900. The business has a 50 day moving average of $111.24 and a 200 day moving average of $111.88. The company has a market capitalization of $12.40 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 3.91 and a beta of 0.35. The company has a quick ratio of 0.27, a current ratio of 0.58 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 $125.42.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $2.61 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.23 billion. Equities research analysts anticipate that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Friday, February 14th. J. M. Smucker's payout ratio is -179.25%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SJM. DA Davidson lowered their target price on J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Morgan Stanley assumed coverage on J. M. Smucker in a report on Monday, March 24th. They set an "overweight" rating and a $123.00 price target on the stock. Stifel Nicolaus lowered 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 report on Friday, January 24th. StockNews.com raised J. M. Smucker from a "sell" rating to a "hold" rating in a research note on Friday, March 28th. Finally, TD Cowen lowered J. M. Smucker from a "buy" rating to a "hold" rating and cut their price target for the company from $130.00 to $121.00 in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $125.67.

Insider Buying and Selling at J. M. Smucker

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

J. M. Smucker 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.