Bank of New York Mellon Corp Grows Position in The J. M. Smucker Company (NYSE:SJM)

Bank of New York Mellon Corp lifted its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 13.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 977,817 shares of the company's stock after purchasing an additional 118,240 shares during the period. Bank of New York Mellon Corp owned 0.92% of J. M. Smucker worth $107,677,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SJM. FMR LLC grew its stake in shares of J. M. Smucker by 40.0% during the 3rd quarter. FMR LLC now owns 3,353,996 shares of the company's stock worth $406,169,000 after acquiring an additional 958,142 shares during the period. State Street Corp lifted its holdings in shares of J. M. Smucker by 12.0% during the 3rd quarter. State Street Corp now owns 7,111,023 shares of the company's stock worth $861,145,000 after acquiring an additional 762,746 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in J. M. Smucker by 891.3% in the third quarter. Thrivent Financial for Lutherans now owns 579,903 shares of the company's stock worth $70,226,000 after buying an additional 521,404 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of J. M. Smucker by 16.5% during 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. Finally, Victory Capital Management Inc. increased its stake in shares of J. M. Smucker by 281.1% in the third quarter. Victory Capital Management Inc. now owns 152,112 shares of the company's stock worth $18,421,000 after buying an additional 112,195 shares during the period. Hedge funds and other institutional investors own 81.66% of the company's stock.

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J. M. Smucker Stock Down 0.5 %

Shares of J. M. Smucker stock traded down $0.53 on Wednesday, reaching $109.32. The company's stock had a trading volume of 1,259,813 shares, compared to its average volume of 1,219,291. The company has a market capitalization of $11.63 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 3.91 and a beta of 0.28. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The J. M. Smucker Company has a 52 week low of $98.77 and a 52 week high of $127.59. The firm's fifty day simple moving average is $106.17 and its two-hundred day simple moving average is $112.99.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $2.61 earnings per share 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 analyst estimates of $2.23 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. Equities analysts anticipate that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.95%. The ex-dividend date was Friday, February 14th. J. M. Smucker's dividend payout ratio is currently -179.25%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SJM shares. StockNews.com downgraded J. M. Smucker from a "hold" rating to a "sell" rating in a report on Monday. Barclays dropped their price target 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. Wells Fargo & Company raised their price objective on J. M. Smucker from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, November 27th. Stifel Nicolaus dropped 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, TD Cowen cut 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 research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $126.13.

Insider Buying and Selling

In other news, CFO Tucker H. Marshall sold 994 shares of the firm's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $113.00, for a total value of $112,322.00. Following the transaction, the chief financial officer now directly owns 18,734 shares in the company, valued at $2,116,942. This trade represents a 5.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.40% of the stock is currently 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.