ExodusPoint Capital Management LP Raises Holdings in The J. M. Smucker Company (NYSE:SJM)

ExodusPoint Capital Management LP raised its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 359,822 shares of the company's stock after purchasing an additional 17,302 shares during the period. ExodusPoint Capital Management LP owned 0.34% of J. M. Smucker worth $39,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in shares of J. M. Smucker by 21.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 84,462 shares of the company's stock worth $10,228,000 after acquiring an additional 15,092 shares in the last quarter. Townsquare Capital LLC increased its position in shares of J. M. Smucker by 14.5% during the third quarter. Townsquare Capital LLC now owns 2,358 shares of the company's stock worth $286,000 after purchasing an additional 298 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of J. M. Smucker by 14.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,618 shares of the company's stock valued at $559,000 after purchasing an additional 600 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of J. M. Smucker by 61,571.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 21,585 shares of the company's stock worth $2,614,000 after purchasing an additional 21,550 shares in the last quarter. Finally, Holocene Advisors LP purchased a new position in J. M. Smucker during the 3rd quarter worth $4,945,000. 81.66% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley began coverage on J. M. Smucker in a report on Monday, March 24th. They issued an "overweight" rating and a $123.00 price target for the company. DA Davidson lowered their target price on shares of 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. Stifel Nicolaus decreased their price target on shares of J. M. Smucker from $125.00 to $120.00 and set a "hold" rating for the company in a report on Friday, January 24th. TD Cowen lowered shares of J. M. Smucker from a "buy" rating to a "hold" rating and dropped their price objective for the company from $130.00 to $121.00 in a report on Wednesday, January 8th. Finally, Barclays reduced their target price on J. M. Smucker from $123.00 to $119.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, J. M. Smucker has a consensus rating of "Hold" and a consensus target price of $125.67.

J. M. Smucker Stock Performance

Shares of SJM stock traded down $3.29 on Friday, hitting $115.03. The company had a trading volume of 1,550,735 shares, compared to its average volume of 1,176,832. The firm has a market cap 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 twelve month low of $98.77 and a twelve month high of $125.42. The company has a 50-day moving average price of $109.70 and a 200-day moving average price of $112.14. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89.

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. As a group, equities research analysts predict 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. Stockholders of record on Friday, February 14th were paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Friday, February 14th. J. M. Smucker's payout ratio is currently -179.25%.

Insider Activity

In related news, CFO Tucker H. Marshall sold 5,028 shares of J. M. Smucker 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 sale, the chief financial officer now 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 position. The transaction was disclosed in a legal 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 transaction, the insider now owns 8,794 shares of the company's stock, valued at $1,022,390.44. This represents a 36.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.40% of the company's stock.

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.