California Public Employees Retirement System Trims Position in The J. M. Smucker Company (NYSE:SJM)

California Public Employees Retirement System trimmed its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 476,269 shares of the company's stock after selling 9,804 shares during the quarter. California Public Employees Retirement System owned approximately 0.45% of J. M. Smucker worth $52,447,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in J. M. Smucker by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 13,344,933 shares of the company's stock worth $1,469,544,000 after acquiring an additional 130,533 shares during the last quarter. State Street Corp lifted its holdings in J. M. Smucker by 12.0% during the 3rd quarter. State Street Corp now owns 7,111,023 shares of the company's stock worth $861,145,000 after purchasing an additional 762,746 shares during the last quarter. Nordea Investment Management AB grew its holdings in J. M. Smucker by 16.5% in the 4th quarter. Nordea Investment Management AB now owns 1,361,902 shares of the company's stock valued at $150,082,000 after buying an additional 192,748 shares in the last quarter. Norges Bank bought a new position in J. M. Smucker during the 4th quarter worth $112,978,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of J. M. Smucker by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,003,042 shares of the company's stock worth $110,455,000 after buying an additional 12,410 shares in the last quarter. Institutional investors own 81.66% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus cut their price objective on shares of J. M. Smucker from $125.00 to $120.00 and set a "hold" rating for the company in a research report on Friday, January 24th. TD Cowen cut shares of J. M. Smucker from a "buy" rating to a "hold" rating and decreased their price objective for the company from $130.00 to $121.00 in a research note on Wednesday, January 8th. Barclays cut 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 note on Monday, March 3rd. DA Davidson decreased their price target on J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Finally, Morgan Stanley assumed coverage on J. M. Smucker in a research report on Monday, March 24th. They set an "overweight" rating and a $123.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $125.67.

Insider Activity

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

J. M. Smucker Stock Down 0.3 %

Shares of SJM stock traded down $0.32 during mid-day trading on Thursday, reaching $118.13. 1,623,483 shares of the company's stock traded hands, compared to its average volume of 1,174,383. The J. M. Smucker Company has a 12 month low of $98.77 and a 12 month high of $125.42. The company's 50-day moving average price is $109.47 and its 200-day moving average price is $112.24. The company has a market cap of $12.57 billion, a P/E ratio of 23.91, a P/E/G ratio of 3.91 and a beta of 0.28. 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 released its quarterly earnings data on Thursday, February 27th. The company reported $2.61 earnings per share 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 firm had revenue of $2.19 billion during the quarter, compared to analysts' expectations of $2.23 billion. On average, equities analysts expect that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $1.08 dividend. The ex-dividend date was Friday, February 14th. This represents a $4.32 annualized dividend and a yield of 3.66%. J. M. Smucker's dividend payout ratio is currently -179.25%.

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.