Douglas Lane & Associates LLC Buys 16,963 Shares of The J. M. Smucker Company (NYSE:SJM)

Douglas Lane & Associates LLC boosted its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 271,299 shares of the company's stock after buying an additional 16,963 shares during the period. Douglas Lane & Associates LLC owned 0.25% of J. M. Smucker worth $29,875,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SJM. Raymond James Trust N.A. raised its stake in shares of J. M. Smucker by 6.8% during the third quarter. Raymond James Trust N.A. now owns 4,846 shares of the company's stock valued at $587,000 after purchasing an additional 310 shares in the last quarter. FMR LLC lifted its stake in shares of J. M. Smucker by 40.0% in the 3rd 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 during the period. Nordea Investment Management AB boosted its holdings in shares of 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 valued at $150,082,000 after acquiring an additional 192,748 shares in the last quarter. Great Valley Advisor Group Inc. bought a new stake in J. M. Smucker during the third quarter worth approximately $3,266,000. Finally, Stoneridge Investment Partners LLC acquired a new position in shares of J. M. Smucker during the 2nd quarter valued at $1,565,000. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Stock Down 2.0 %

NYSE:SJM traded down $2.11 during trading hours on Wednesday, hitting $105.36. 1,309,708 shares of the stock traded hands, compared to its average volume of 1,048,721. The firm has a market cap of $11.21 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 3.46 and a beta of 0.28. The firm has a 50 day moving average price of $113.04 and a 200 day moving average price of $115.77. 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 fifty-two week low of $104.27 and a fifty-two week high of $134.62.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.25. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.27 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The business's revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.59 EPS. Equities research analysts anticipate that The J. M. Smucker Company will post 9.89 earnings per share for the current year.

J. M. Smucker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date was Friday, November 15th. J. M. Smucker's dividend payout ratio (DPR) is currently 87.45%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SJM shares. Barclays decreased their target price on J. M. Smucker from $126.00 to $123.00 and set an "equal weight" rating for the company in a research note on Wednesday, December 4th. StockNews.com upgraded shares of J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Monday, September 30th. Stifel Nicolaus downgraded shares of J. M. Smucker from a "buy" rating to a "hold" rating and dropped their target price for the stock from $135.00 to $125.00 in a report on Friday, October 25th. TD Cowen cut shares of J. M. Smucker from a "buy" rating to a "hold" rating and reduced their target price for the stock from $130.00 to $121.00 in a report on Wednesday. Finally, Wells Fargo & Company upped their price target on J. M. Smucker from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $127.33.

Insider Activity

In related news, CFO Tucker H. Marshall sold 994 shares of the 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 transaction, the chief financial officer now owns 18,734 shares in the company, valued at approximately $2,116,942. This represents a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.40% of the stock is currently owned by corporate insiders.

About J. M. Smucker

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.