The J. M. Smucker Company (NYSE:SJM) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 20.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,389 shares of the company's stock after selling 10,640 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in J. M. Smucker were worth $4,448,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SJM. Principal Financial Group Inc. raised its stake in J. M. Smucker by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 135,465 shares of the company's stock worth $16,405,000 after acquiring an additional 5,790 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of J. M. Smucker by 5.1% in the third quarter. Sigma Planning Corp now owns 4,115 shares of the company's stock valued at $498,000 after purchasing an additional 201 shares during the period. Venturi Wealth Management LLC raised its stake in shares of J. M. Smucker by 1,329.4% in the third quarter. Venturi Wealth Management LLC now owns 243 shares of the company's stock worth $29,000 after purchasing an additional 226 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of J. M. Smucker during the third quarter worth about $796,000. Finally, Harbour Investments Inc. boosted its position in J. M. Smucker by 175.5% in the third quarter. Harbour Investments Inc. now owns 8,883 shares of the company's stock valued at $1,076,000 after buying an additional 5,659 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts have issued reports on SJM shares. StockNews.com raised shares of J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Tuesday, March 11th. Barclays reduced their target price on shares of 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. Stifel Nicolaus lowered their price target on shares of J. M. Smucker from $125.00 to $120.00 and set a "hold" rating on the stock in a report on Friday, January 24th. Wells Fargo & Company lifted their price objective on J. M. Smucker from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday, November 27th. Finally, DA Davidson lowered their target price on J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, J. M. Smucker has an average rating of "Hold" and an average target price of $126.00.

J. M. Smucker Price Performance

SJM traded down $1.09 during trading on Tuesday, hitting $110.78. The company's stock had a trading volume of 1,249,599 shares, compared to its average volume of 1,119,985. 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 firm has a market capitalization of $11.79 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 3.91 and a beta of 0.28. The business's fifty day simple moving average is $106.58 and its 200 day simple moving average is $112.56. The J. M. Smucker Company has a twelve month low of $98.77 and a twelve month high of $127.59.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.37 by $0.24. The company 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 research analysts forecast that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Friday, February 14th. J. M. Smucker's dividend payout ratio is presently -179.25%.

Insider Buying and Selling

In other news, CFO Tucker H. Marshall sold 5,028 shares of the stock in a transaction dated Thursday, March 13th. The shares were 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 $1,503,493.68. This represents a 27.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.40% of the stock is currently owned by insiders.

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.