NewEdge Advisors LLC reduced its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 83.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,284 shares of the company's stock after selling 30,936 shares during the quarter. NewEdge Advisors LLC's holdings in J. M. Smucker were worth $692,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of SJM. Sumitomo Mitsui Trust Group Inc. grew its holdings in J. M. Smucker by 3.6% during the fourth 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 during the period. Nordea Investment Management AB grew its holdings in shares of 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 valued at $150,082,000 after buying an additional 192,748 shares during the period. Miracle Mile Advisors LLC bought a new stake in shares of J. M. Smucker in the 4th quarter valued at $1,273,000. Signal Advisors Wealth LLC raised 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 worth $1,426,000 after buying an additional 9,982 shares during the period. Finally, Douglas Lane & Associates LLC lifted its holdings in J. M. Smucker by 6.7% during the fourth quarter. Douglas Lane & Associates LLC now owns 271,299 shares of the company's stock worth $29,875,000 after acquiring an additional 16,963 shares in the last quarter. 81.66% of the stock is owned by institutional investors.
Insider Buying and Selling at J. M. Smucker
In related news, insider Jill R. Penrose sold 5,117 shares of the firm's stock in a transaction dated Friday, March 28th. The shares were 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 directly owns 8,794 shares in the company, valued at approximately $1,022,390.44. This trade represents a 36.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Tucker H. Marshall sold 5,028 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $113.36, for a total value 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. This trade represents a 27.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the company. StockNews.com raised J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Friday, March 28th. DA Davidson dropped 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. Morgan Stanley started coverage on shares of J. M. Smucker in a research report on Monday, March 24th. They set an "overweight" rating and a $123.00 price objective for the company. Stifel Nicolaus dropped their price objective on shares of J. M. Smucker from $125.00 to $120.00 and set a "hold" rating on the stock in a report on Friday, January 24th. Finally, Barclays reduced their target price 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $126.50.
View Our Latest Report on J. M. Smucker
J. M. Smucker Trading Down 0.5 %
Shares of NYSE:SJM opened at $115.16 on Friday. The company's 50-day moving average price is $113.35 and its two-hundred day moving average price is $111.76. 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 current ratio of 0.58 and a quick ratio of 0.27. The stock has a market capitalization of $12.25 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 3.91 and a beta of 0.35.
J. M. Smucker (NYSE:SJM - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.37 by $0.24. The firm had revenue of $2.19 billion during the quarter, compared to analysts' expectations of $2.23 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. On average, equities 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 declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 16th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.75%. The ex-dividend date is Friday, May 16th. J. M. Smucker's dividend payout ratio (DPR) is currently -179.25%.
J. M. Smucker Profile
(
Free Report)
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.
Further Reading
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