Comerica Bank decreased its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 12.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,030 shares of the company's stock after selling 3,311 shares during the period. Comerica Bank's holdings in J. M. Smucker were worth $2,646,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in SJM. Vanguard Group Inc. raised its stake in shares of J. M. Smucker by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 13,344,933 shares of the company's stock worth $1,469,544,000 after purchasing an additional 130,533 shares during the last quarter. FMR LLC lifted its holdings in shares of J. M. Smucker by 11.3% in the fourth quarter. FMR LLC now owns 3,734,305 shares of the company's stock valued at $411,222,000 after purchasing an additional 380,309 shares in the last quarter. Geode Capital Management LLC lifted its holdings in J. M. Smucker by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 2,609,952 shares of the company's stock valued at $286,664,000 after purchasing an additional 58,231 shares in the last quarter. Invesco Ltd. increased its stake 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 acquiring an additional 418,878 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in J. M. Smucker by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,009,017 shares of the company's stock valued at $221,232,000 after acquiring an additional 33,758 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have recently commented on SJM shares. Barclays reduced 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. Stifel Nicolaus lowered their price objective on shares of J. M. Smucker from $125.00 to $120.00 and set a "hold" rating for the company in a research report on Friday, January 24th. StockNews.com upgraded shares of J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Friday, March 28th. Morgan Stanley started coverage on shares of 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. Finally, DA Davidson reduced their price objective on shares of J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $126.50.
View Our Latest Stock Analysis on SJM
Insider Activity
In other news, CFO Tucker H. Marshall sold 5,028 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was 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 in the company, valued at $1,503,493.68. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jill R. Penrose sold 5,117 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $116.26, for a total transaction of $594,902.42. Following the transaction, the insider now directly owns 8,794 shares of the company's stock, valued at $1,022,390.44. This trade represents a 36.78% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.40% of the company's stock.
J. M. Smucker Stock Performance
Shares of NYSE SJM traded down $1.54 during mid-day trading on Wednesday, reaching $109.95. 329,452 shares of the company's stock were exchanged, compared to its average volume of 1,168,396. The firm has a 50-day moving average price of $114.26 and a two-hundred day moving average price of $111.32. 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 52 week low of $98.77 and a 52 week high of $125.42. The firm has a market capitalization of $11.70 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 3.91 and a beta of 0.36.
J. M. Smucker (NYSE:SJM - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $2.61 EPS for the quarter, beating analysts' consensus estimates 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%. Analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current year.
J. M. Smucker Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 16th will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Friday, May 16th. J. M. Smucker's dividend payout ratio is currently -179.25%.
J. M. Smucker Profile
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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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