Sterling Capital Management LLC raised its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 55.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,117 shares of the company's stock after buying an additional 2,182 shares during the period. Sterling Capital Management LLC's holdings in J. M. Smucker were worth $674,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in J. M. Smucker in the fourth quarter worth $112,978,000. LSV Asset Management boosted its holdings in shares of J. M. Smucker by 3,599.5% in the 4th quarter. LSV Asset Management now owns 929,400 shares of the company's stock worth $102,346,000 after purchasing an additional 904,278 shares in the last quarter. FIL Ltd boosted its holdings in shares of J. M. Smucker by 87.8% in the 4th quarter. FIL Ltd now owns 925,000 shares of the company's stock worth $101,861,000 after purchasing an additional 432,500 shares in the last quarter. Invesco Ltd. increased its position in shares of J. M. Smucker by 21.0% during the 4th quarter. Invesco Ltd. now owns 2,415,023 shares of the company's stock valued at $265,942,000 after purchasing an additional 418,878 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of J. M. Smucker by 11.3% during the 4th quarter. FMR LLC now owns 3,734,305 shares of the company's stock valued at $411,222,000 after buying an additional 380,309 shares in the last quarter. Institutional investors own 81.66% of the company's stock.
J. M. Smucker Trading Up 1.4 %
Shares of SJM stock traded up $1.55 during trading hours on Friday, reaching $116.39. The company's stock had a trading volume of 1,189,117 shares, compared to its average volume of 1,181,962. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $12.39 billion, a P/E ratio of 23.56, a P/E/G ratio of 3.91 and a beta of 0.35. The firm's fifty day simple moving average is $111.98 and its 200 day simple moving average is $111.78. The J. M. Smucker Company has a one year low of $98.77 and a one year 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, beating 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 the consensus estimate of $2.23 billion. Equities research analysts expect that The J. M. Smucker Company will post 9.88 EPS for the current year.
J. M. Smucker Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 16th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.71%. J. M. Smucker's dividend payout ratio (DPR) is presently -179.25%.
Analysts Set New Price Targets
Several brokerages have issued reports on SJM. DA Davidson cut their target price 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. StockNews.com raised shares of J. M. Smucker from a "sell" rating to a "hold" rating in a research note on Friday, March 28th. Barclays decreased their target price on shares of 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. 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 report on Wednesday, January 8th. Finally, Morgan Stanley started coverage on J. M. Smucker in a research note on Monday, March 24th. They set an "overweight" rating and a $123.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $125.67.
View Our Latest Analysis on SJM
Insider Buying and Selling at J. M. Smucker
In other news, insider Jill R. Penrose sold 5,117 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $116.26, for a total value of $594,902.42. Following the completion of the transaction, the insider now owns 8,794 shares in the company, valued at $1,022,390.44. This trade represents a 36.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Tucker H. Marshall sold 5,028 shares of the company's stock in a transaction on Thursday, March 13th. The stock was 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 directly owns 13,263 shares in the company, valued at approximately $1,503,493.68. The trade was a 27.49 % 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
(
Free Report)
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.
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