KLP Kapitalforvaltning AS Makes New $4.19 Million Investment in The J. M. Smucker Company (NYSE:SJM)

KLP Kapitalforvaltning AS acquired a new stake in The J. M. Smucker Company (NYSE:SJM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 38,023 shares of the company's stock, valued at approximately $4,187,000.

Other large investors have also made changes to their positions in the company. Salem Investment Counselors Inc. raised its position in J. M. Smucker by 17.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 660 shares of the company's stock worth $73,000 after acquiring an additional 100 shares during the period. Trust Co. of Vermont boosted its holdings in shares of J. M. Smucker by 4.1% during the 4th quarter. Trust Co. of Vermont now owns 2,731 shares of the company's stock worth $301,000 after purchasing an additional 108 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of J. M. Smucker by 6.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,845 shares of the company's stock valued at $203,000 after purchasing an additional 115 shares during the last quarter. Code Waechter LLC boosted its stake in J. M. Smucker by 2.5% during the fourth quarter. Code Waechter LLC now owns 5,023 shares of the company's stock worth $553,000 after buying an additional 124 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC boosted its position in shares of J. M. Smucker by 35.7% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 475 shares of the company's stock valued at $52,000 after acquiring an additional 125 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

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 transaction of $569,974.08. Following the completion of the sale, the chief financial officer now owns 13,263 shares in the company, valued at approximately $1,503,493.68. This trade represents a 27.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on SJM shares. TD Cowen downgraded J. M. Smucker from a "buy" rating to a "hold" rating and reduced their target price for the company from $130.00 to $121.00 in a research report on Wednesday, January 8th. StockNews.com raised J. M. Smucker from a "sell" rating to a "hold" rating in a research note on Friday. Stifel Nicolaus reduced their price target on 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. Barclays cut their target price on shares of J. M. Smucker from $123.00 to $119.00 and set an "equal weight" rating on the stock in a research note on Monday, March 3rd. Finally, DA Davidson dropped their price objective on shares of 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, J. M. Smucker currently has an average rating of "Hold" and a consensus price target of $125.67.

J. M. Smucker Stock Performance

J. M. Smucker stock traded down $0.60 during trading hours on Friday, reaching $116.13. 1,223,939 shares of the stock were exchanged, compared to its average volume of 1,173,057. The stock has a market cap of $12.36 billion, a P/E ratio of 23.51, a P/E/G ratio of 3.91 and a beta of 0.28. The firm's 50 day moving average is $108.21 and its 200 day moving average is $112.17. 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 J. M. Smucker Company has a 52-week low of $98.77 and a 52-week high of $125.75.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $2.23 billion. Analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Friday, February 14th. J. M. Smucker's dividend payout ratio (DPR) is -179.25%.

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.