Korea Investment CORP Sells 2,700 Shares of The J. M. Smucker Company (NYSE:SJM)

Korea Investment CORP reduced its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,663 shares of the company's stock after selling 2,700 shares during the period. Korea Investment CORP's holdings in J. M. Smucker were worth $5,799,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. increased its stake in J. M. Smucker by 3.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 324,381 shares of the company's stock valued at $35,721,000 after purchasing an additional 11,339 shares in the last quarter. Nordea Investment Management AB raised 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 worth $150,082,000 after acquiring an additional 192,748 shares during the last quarter. Miracle Mile Advisors LLC bought a new position in J. M. Smucker in the 4th quarter valued at approximately $1,273,000. Signal Advisors Wealth LLC boosted its stake in J. M. Smucker by 336.3% during the 4th quarter. Signal Advisors Wealth LLC now owns 12,950 shares of the company's stock valued at $1,426,000 after purchasing an additional 9,982 shares during the last quarter. Finally, Douglas Lane & Associates LLC increased its holdings in shares of J. M. Smucker by 6.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 271,299 shares of the company's stock worth $29,875,000 after purchasing an additional 16,963 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Stock Performance

Shares of SJM opened at $118.35 on Tuesday. The J. M. Smucker Company has a 52 week low of $98.77 and a 52 week high of $125.75. 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 stock has a market cap of $12.59 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 3.91 and a beta of 0.28. The business has a 50-day simple moving average of $108.54 and a two-hundred day simple moving average of $112.17.

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J. M. Smucker (NYSE:SJM - Get Free Report) last released 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 net margin of 5.96% and a return on equity of 14.35%. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.23 billion. On average, analysts expect that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.65%. The ex-dividend date was Friday, February 14th. J. M. Smucker's dividend payout ratio is currently -179.25%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SJM shares. DA Davidson dropped their price objective 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 reduced 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 research note on Monday, March 3rd. Morgan Stanley began coverage on shares of J. M. Smucker in a report on Monday, March 24th. They issued an "overweight" rating and a $123.00 target price on the stock. TD Cowen lowered shares of J. M. Smucker from a "buy" rating to a "hold" rating and decreased their target price for the company from $130.00 to $121.00 in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus dropped their price target on J. M. Smucker from $125.00 to $120.00 and set a "hold" rating on the stock in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $125.67.

Insiders Place Their Bets

In other J. M. Smucker news, CFO Tucker H. Marshall sold 5,028 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 13,263 shares of the company's stock, valued at $1,503,493.68. This trade represents a 27.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jill R. Penrose sold 5,117 shares of the business's 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 completion of the transaction, the insider now directly owns 8,794 shares in the company, valued at $1,022,390.44. This trade represents a 36.78 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company 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.

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