Envestnet Asset Management Inc. Sells 30,693 Shares of The J. M. Smucker Company (NYSE:SJM)

Envestnet Asset Management Inc. trimmed its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 51.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,498 shares of the company's stock after selling 30,693 shares during the period. Envestnet Asset Management Inc.'s holdings in J. M. Smucker were worth $3,138,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SJM. Wilmington Savings Fund Society FSB purchased a new stake in J. M. Smucker in the 3rd quarter worth approximately $682,000. Tidal Investments LLC lifted its stake in J. M. Smucker by 1.3% in the third quarter. Tidal Investments LLC now owns 15,038 shares of the company's stock worth $1,821,000 after acquiring an additional 190 shares during the period. Principal Financial Group Inc. boosted its holdings in J. M. Smucker by 4.5% in the third quarter. Principal Financial Group Inc. now owns 135,465 shares of the company's stock valued at $16,405,000 after acquiring an additional 5,790 shares in the last quarter. JPMorgan Chase & Co. increased its position in J. M. Smucker by 4.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 703,971 shares of the company's stock valued at $85,251,000 after purchasing an additional 31,745 shares during the period. Finally, Versant Capital Management Inc raised its holdings in J. M. Smucker by 106.3% in the 4th quarter. Versant Capital Management Inc now owns 526 shares of the company's stock worth $58,000 after purchasing an additional 271 shares in the last quarter. 81.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on SJM shares. TD Cowen cut shares of J. M. Smucker from a "buy" rating to a "hold" rating and reduced their price target for the company from $130.00 to $121.00 in a research report on Wednesday, January 8th. UBS Group assumed coverage on J. M. Smucker in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $134.00 target price for the company. DA Davidson dropped their price target on J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Barclays decreased their price objective on 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. Finally, Stifel Nicolaus reduced their target price on shares of J. M. Smucker from $125.00 to $120.00 and set a "hold" rating on the stock in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, J. M. Smucker has a consensus rating of "Hold" and a consensus price target of $126.50.

Insider Transactions at J. M. Smucker

In related news, 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 in the company, valued at approximately $1,503,493.68. The trade was a 27.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jill R. Penrose sold 5,117 shares of the company's stock in a transaction dated Friday, March 28th. The stock was 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 approximately $1,022,390.44. The trade was a 36.78 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.

J. M. Smucker Stock Performance

Shares of NYSE SJM traded down $1.20 during midday trading on Monday, hitting $114.03. 920,741 shares of the stock traded hands, compared to its average volume of 1,173,392. The firm has a market capitalization of $12.13 billion, a P/E ratio of 23.08, a PEG ratio of 3.91 and a beta of 0.35. The J. M. Smucker Company has a one year low of $98.77 and a one year high of $125.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58. The firm has a 50-day moving average of $113.35 and a two-hundred day moving average of $111.73.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.24. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The business had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.23 billion. On average, equities analysts forecast that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 16th will be given a $1.08 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $4.32 annualized dividend and a yield of 3.79%. J. M. Smucker's payout ratio is presently -179.25%.

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.