Cibc World Markets Corp Increases Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Cibc World Markets Corp boosted its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 15.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,775 shares of the company's stock after acquiring an additional 5,482 shares during the quarter. Cibc World Markets Corp's holdings in J. M. Smucker were worth $4,600,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV grew its holdings in shares of J. M. Smucker by 4.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 14,345 shares of the company's stock valued at $1,580,000 after purchasing an additional 642 shares in the last quarter. Harbour Investments Inc. boosted its position in J. M. Smucker by 12.9% in the 4th quarter. Harbour Investments Inc. now owns 10,032 shares of the company's stock valued at $1,105,000 after buying an additional 1,149 shares during the period. Corient Private Wealth LLC grew its stake in shares of J. M. Smucker by 6.5% in the fourth quarter. Corient Private Wealth LLC now owns 55,767 shares of the company's stock worth $6,141,000 after acquiring an additional 3,407 shares in the last quarter. Greenwich Wealth Management LLC increased its position in shares of J. M. Smucker by 4.8% during the fourth quarter. Greenwich Wealth Management LLC now owns 5,601 shares of the company's stock worth $617,000 after acquiring an additional 254 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in shares of J. M. Smucker by 7.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 103,593 shares of the company's stock valued at $11,408,000 after acquiring an additional 7,149 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other J. M. Smucker news, CFO Tucker H. Marshall sold 5,028 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were 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 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 is available at the SEC website. Corporate insiders own 3.40% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com downgraded J. M. Smucker from a "hold" rating to a "sell" rating in a report on Thursday. DA Davidson reduced their target price on shares of J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Barclays lowered their price target on shares of J. M. Smucker from $123.00 to $119.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. Wells Fargo & Company raised their price objective on shares of J. M. Smucker from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, November 27th. Finally, TD Cowen downgraded shares of J. M. Smucker from a "buy" rating to a "hold" rating and lowered their target price for the stock from $130.00 to $121.00 in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $125.67.

J. M. Smucker Stock Performance

SJM traded up $2.06 on Monday, reaching $111.76. The company had a trading volume of 1,427,217 shares, compared to its average volume of 1,131,032. 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 $127.15. The stock has a market capitalization of $11.89 billion, a PE ratio of 22.62, a P/E/G ratio of 3.91 and a beta of 0.28. The stock has a 50-day moving average price of $107.00 and a 200-day moving average price of $112.36.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its earnings results 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. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.23 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. As a group, research analysts forecast that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend was Friday, February 14th. J. M. Smucker's 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.