The J. M. Smucker Company (NYSE:SJM) Shares Sold by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd cut its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,639 shares of the company's stock after selling 2,282 shares during the period. Te Ahumairangi Investment Management Ltd's holdings in J. M. Smucker were worth $4,585,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SJM. Salem Investment Counselors Inc. grew its stake in J. M. Smucker by 17.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 660 shares of the company's stock valued at $73,000 after acquiring an additional 100 shares during the period. Trust Co. of Vermont raised its position in shares of J. M. Smucker by 4.1% during the 4th quarter. Trust Co. of Vermont now owns 2,731 shares of the company's stock worth $301,000 after purchasing an additional 108 shares during the last quarter. Conestoga Capital Advisors LLC lifted its stake in J. M. Smucker by 6.6% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,845 shares of the company's stock valued at $203,000 after buying an additional 115 shares in the last quarter. Mendel Money Management increased its stake in J. M. Smucker by 3.1% during the 4th quarter. Mendel Money Management now owns 3,933 shares of the company's stock worth $433,000 after buying an additional 117 shares in the last quarter. Finally, Code Waechter LLC raised its holdings in shares of J. M. Smucker by 2.5% during the fourth quarter. Code Waechter LLC now owns 5,023 shares of the company's stock valued at $553,000 after acquiring an additional 124 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts recently commented on SJM shares. DA Davidson reduced their price objective on J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating for the company in a research note 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 target on the stock. TD Cowen downgraded shares of J. M. Smucker from a "buy" rating to a "hold" rating and cut their price objective for the company from $130.00 to $121.00 in a report on Wednesday, January 8th. Stifel Nicolaus lowered their target price on 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 cut their price target 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $125.67.

Insiders Place Their Bets

In related news, insider Jill R. Penrose sold 5,117 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $116.26, for a total transaction of $594,902.42. Following the transaction, the insider now owns 8,794 shares of the company's stock, valued at approximately $1,022,390.44. This represents a 36.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tucker H. Marshall sold 5,028 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $113.36, for a total transaction of $569,974.08. Following the sale, the chief financial officer now owns 13,263 shares in the company, valued at $1,503,493.68. This trade represents a 27.49 % 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 Trading Down 2.8 %

Shares of SJM stock traded down $3.29 during trading on Friday, hitting $115.03. 1,550,735 shares of the stock traded hands, compared to its average volume of 1,176,832. The firm's fifty day moving average price is $109.70 and its 200-day moving average price is $112.14. 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 firm has a market capitalization of $12.24 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 3.91 and a beta of 0.35. The J. M. Smucker Company has a 52-week low of $98.77 and a 52-week high of $125.42.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued 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. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.23 billion. As a group, research analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Friday, February 14th. J. M. Smucker's payout ratio is -179.25%.

J. M. Smucker Company 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.