The J. M. Smucker Company (NYSE:SJM) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 13.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,092 shares of the company's stock after acquiring an additional 7,825 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.06% of J. M. Smucker worth $7,058,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Norges Bank acquired a new stake in J. M. Smucker in the fourth quarter valued at approximately $112,978,000. State Street Corp boosted its position in shares of J. M. Smucker by 12.0% in the 3rd quarter. State Street Corp now owns 7,111,023 shares of the company's stock worth $861,145,000 after purchasing an additional 762,746 shares in the last quarter. Raymond James Financial Inc. purchased a new position in J. M. Smucker during the 4th quarter worth $32,988,000. Amundi increased its position in J. M. Smucker by 49.3% during the 4th quarter. Amundi now owns 628,381 shares of the company's stock valued at $66,250,000 after buying an additional 207,477 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake 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 last quarter. 81.66% of the stock is owned by institutional investors.

J. M. Smucker Stock Performance

SJM stock traded down $3.18 during trading on Tuesday, hitting $109.85. 2,272,264 shares of the company traded hands, compared to its average volume of 1,183,386. The J. M. Smucker Company has a 1 year low of $98.77 and a 1 year high of $125.42. The company has a market cap of $11.69 billion, a PE ratio of 22.24, a P/E/G ratio of 3.91 and a beta of 0.35. The stock's 50-day simple moving average is $109.98 and its 200 day simple moving average is $111.96. 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 issued its quarterly earnings data on Thursday, February 27th. The company reported $2.61 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.23 billion. On average, equities analysts expect that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Friday, February 14th. J. M. Smucker's dividend payout ratio (DPR) is presently -179.25%.

Insider Activity at J. M. Smucker

In related news, CFO Tucker H. Marshall sold 5,028 shares of the business'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 sale, the chief financial officer now owns 13,263 shares of the company's stock, valued at approximately $1,503,493.68. The trade was a 27.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jill R. Penrose sold 5,117 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $116.26, for a total transaction of $594,902.42. Following the transaction, the insider now directly owns 8,794 shares in the company, valued at approximately $1,022,390.44. The trade was 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 company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SJM shares. 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. TD Cowen lowered shares of J. M. Smucker from a "buy" rating to a "hold" rating and cut their price target for the company from $130.00 to $121.00 in a research note on Wednesday, January 8th. Morgan Stanley assumed coverage on shares of J. M. Smucker in a research note on Monday, March 24th. They set an "overweight" rating and a $123.00 price objective for the company. Barclays cut their target price on J. M. Smucker from $123.00 to $119.00 and set an "equal weight" rating on the stock in a research report on Monday, March 3rd. Finally, DA Davidson lowered their price target on 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 equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $125.67.

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.