Principal Financial Group Inc. Has $16.41 Million Stock Position in The J. M. Smucker Company (NYSE:SJM)

Principal Financial Group Inc. boosted its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,465 shares of the company's stock after purchasing an additional 5,790 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of J. M. Smucker worth $16,405,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Studio Investment Management LLC acquired a new stake in shares of J. M. Smucker during the 2nd quarter worth $26,000. Venturi Wealth Management LLC increased its stake in J. M. Smucker by 1,329.4% during the third quarter. Venturi Wealth Management LLC now owns 243 shares of the company's stock worth $29,000 after acquiring an additional 226 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of J. M. Smucker in the 3rd quarter worth about $39,000. Quarry LP grew its holdings in shares of J. M. Smucker by 212.6% during the 2nd quarter. Quarry LP now owns 322 shares of the company's stock worth $35,000 after purchasing an additional 219 shares during the period. Finally, Eastern Bank acquired a new stake in J. M. Smucker during the 3rd quarter worth approximately $40,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SJM shares. Stifel Nicolaus lowered shares of J. M. Smucker from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $135.00 to $125.00 in a research report on Friday, October 25th. Wells Fargo & Company upped their price target on shares of J. M. Smucker from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. StockNews.com raised J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Monday, September 30th. Finally, Barclays reduced their price objective on J. M. Smucker from $126.00 to $123.00 and set an "equal weight" rating on the stock in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $128.56.

J. M. Smucker Stock Performance

Shares of NYSE:SJM traded down $0.30 on Friday, hitting $110.62. The company's stock had a trading volume of 513,722 shares, compared to its average volume of 1,179,882. The company has a market capitalization of $11.77 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 3.46 and a beta of 0.26. The stock's 50-day moving average is $114.17 and its two-hundred day moving average is $115.84. The J. M. Smucker Company has a 12 month low of $105.69 and a 12 month high of $134.62. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its earnings results on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.51 by $0.25. The firm had revenue of $2.27 billion for the quarter, compared to analysts' expectations of $2.27 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The firm's quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.59 earnings per share. On average, equities research analysts forecast that The J. M. Smucker Company will post 9.89 EPS for the current year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were paid a dividend of $1.08 per share. The ex-dividend date was Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 3.91%. J. M. Smucker's dividend payout ratio is currently 87.45%.

Insider Buying and Selling

In other J. M. Smucker news, CFO Tucker H. Marshall sold 994 shares of J. M. Smucker stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $113.00, for a total value of $112,322.00. Following the transaction, the chief financial officer now owns 18,734 shares in the company, valued at approximately $2,116,942. The trade was a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is owned by corporate insiders.

J. M. Smucker Profile

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.