Wells Fargo & Company MN Reduces Position in The J. M. Smucker Company (NYSE:SJM)

Wells Fargo & Company MN cut its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 435,706 shares of the company's stock after selling 38,959 shares during the period. Wells Fargo & Company MN owned approximately 0.41% of J. M. Smucker worth $47,980,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of J. M. Smucker during the fourth quarter valued at $112,978,000. Raymond James Financial Inc. bought a new position in J. M. Smucker in the 4th quarter worth about $32,988,000. Amundi increased its position in shares of J. M. Smucker by 49.3% during the fourth quarter. Amundi now owns 628,381 shares of the company's stock worth $66,250,000 after acquiring an additional 207,477 shares during the period. Nordea Investment Management AB raised 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 acquiring an additional 192,748 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of J. M. Smucker in the fourth quarter valued at approximately $15,886,000. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Stock Performance

SJM stock traded down $0.94 during trading on Tuesday, hitting $116.96. 261,764 shares of the company traded hands, compared to its average volume of 1,182,898. 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 J. M. Smucker Company has a 1 year low of $98.77 and a 1 year high of $125.42. The stock's 50-day simple moving average is $110.97 and its 200 day simple moving average is $111.85. The company has a market cap of $12.45 billion, a PE ratio of 23.65, a P/E/G ratio of 3.91 and a beta of 0.35.

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J. M. Smucker (NYSE:SJM - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.24. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.23 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. On average, equities analysts expect that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $1.08 dividend. The ex-dividend date was Friday, February 14th. This represents a $4.32 dividend on an annualized basis and a yield of 3.69%. J. M. Smucker's payout ratio is -179.25%.

Wall Street Analysts Forecast Growth

SJM has been the topic of several research reports. Morgan Stanley began coverage on J. M. Smucker in a report on Monday, March 24th. They set an "overweight" rating and a $123.00 price objective on the stock. DA Davidson decreased their price objective on J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating for the company in a report 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. 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 cut their target price 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, March 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average 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 J. M. Smucker stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $116.26, for a total value of $594,902.42. Following the sale, the insider now directly owns 8,794 shares in the company, valued at approximately $1,022,390.44. The trade was a 36.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Tucker H. Marshall sold 5,028 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 13,263 shares of the company's stock, valued at $1,503,493.68. The trade was a 27.49 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

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.