Norges Bank purchased a new stake in shares of 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 institutional investor purchased 1,025,952 shares of the company's stock, valued at approximately $112,978,000. Norges Bank owned about 0.96% of J. M. Smucker at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. lifted its position 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 during the period. Nordea Investment Management AB lifted its holdings in 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 buying an additional 192,748 shares during the period. Miracle Mile Advisors LLC acquired a new stake in J. M. Smucker during the 4th quarter worth $1,273,000. Signal Advisors Wealth LLC raised its position in shares of 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 acquiring an additional 9,982 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its stake 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 valued at $29,875,000 after purchasing an additional 16,963 shares during the period. Institutional investors own 81.66% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Barclays dropped 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. StockNews.com raised shares of J. M. Smucker from a "sell" rating to a "hold" rating in a research note on Friday, March 28th. TD Cowen lowered shares of J. M. Smucker from a "buy" rating to a "hold" rating and cut their target price for the stock from $130.00 to $121.00 in a report on Wednesday, January 8th. Morgan Stanley initiated 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 target on the stock. Finally, DA Davidson lowered their price objective on shares of J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating for the company 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 issued a buy rating to the company's stock. According to MarketBeat.com, J. M. Smucker currently has a consensus rating of "Hold" and an average target price of $125.67.
Check Out Our Latest Analysis on J. M. Smucker
Insider Activity at J. M. Smucker
In related news, CFO Tucker H. Marshall sold 5,028 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $113.36, for a total value of $569,974.08. Following the completion of the transaction, the chief financial officer now directly owns 13,263 shares of the company's stock, valued at approximately $1,503,493.68. This trade represents a 27.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jill R. Penrose sold 5,117 shares of the company'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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.
J. M. Smucker Stock Down 0.3 %
SJM stock traded down $0.32 during trading hours on Thursday, reaching $118.13. 1,623,483 shares of the stock were exchanged, compared to its average volume of 1,174,383. The firm's 50-day moving average is $109.47 and its 200-day moving average is $112.24. The J. M. Smucker Company has a 12 month low of $98.77 and a 12 month high of $125.42. The company has a market cap of $12.57 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 3.91 and a beta of 0.28. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27.
J. M. Smucker (NYSE:SJM - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate 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 research analysts expect that The J. M. Smucker Company will post 9.88 earnings per share for the current year.
J. M. Smucker Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Friday, February 14th. J. M. Smucker's dividend payout ratio is presently -179.25%.
About J. M. Smucker
(
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.
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