Crestline Management LP raised its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 34.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,958 shares of the company's stock after purchasing an additional 20,437 shares during the period. Crestline Management LP owned 0.08% of J. M. Smucker worth $8,805,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new position in J. M. Smucker in the 4th quarter valued at about $112,978,000. LSV Asset Management lifted its stake in shares of J. M. Smucker by 3,599.5% during the fourth quarter. LSV Asset Management now owns 929,400 shares of the company's stock valued at $102,346,000 after buying an additional 904,278 shares during the period. FIL Ltd boosted its position in J. M. Smucker by 87.8% during the fourth quarter. FIL Ltd now owns 925,000 shares of the company's stock worth $101,861,000 after acquiring an additional 432,500 shares during the last quarter. Invesco Ltd. grew its stake in J. M. Smucker by 21.0% in the 4th quarter. Invesco Ltd. now owns 2,415,023 shares of the company's stock worth $265,942,000 after acquiring an additional 418,878 shares during the period. Finally, FMR LLC raised its holdings in J. M. Smucker by 11.3% in the 4th quarter. FMR LLC now owns 3,734,305 shares of the company's stock valued at $411,222,000 after acquiring an additional 380,309 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.
J. M. Smucker Stock Down 0.5 %
NYSE:SJM traded down $0.54 during trading hours on Friday, hitting $111.48. The stock had a trading volume of 1,086,012 shares, compared to its average volume of 1,170,683. The company has a market cap of $11.86 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 3.91 and a beta of 0.36. The business has a 50 day simple moving average of $114.20 and a two-hundred day simple moving average of $111.42. The J. M. Smucker Company has a 1-year low of $98.77 and a 1-year high of $125.42. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89.
J. M. Smucker (NYSE:SJM - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $2.61 earnings per share 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 during the quarter, compared to analyst estimates of $2.23 billion. Analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current year.
J. M. Smucker Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 16th will be paid a dividend of $1.08 per share. The ex-dividend date is Friday, May 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.88%. J. M. Smucker's dividend payout ratio (DPR) is presently -179.25%.
Insiders Place Their Bets
In other news, insider Jill R. Penrose sold 5,117 shares of the company's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $116.26, for a total value of $594,902.42. Following the sale, the insider now owns 8,794 shares in the company, valued at approximately $1,022,390.44. This represents a 36.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Tucker H. Marshall sold 5,028 shares of J. M. Smucker 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 completion of the transaction, the chief financial officer now owns 13,263 shares of the company's stock, valued at $1,503,493.68. This trade represents a 27.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the company. UBS Group began coverage on J. M. Smucker in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $134.00 price objective for the company. Stifel Nicolaus lowered their price target on J. M. Smucker from $125.00 to $120.00 and set a "hold" rating for the company in a report on Friday, January 24th. DA Davidson decreased their target price on shares of J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Barclays dropped their price target on shares of J. M. Smucker from $123.00 to $119.00 and set an "equal weight" rating for the company in a research report on Monday, March 3rd. Finally, StockNews.com raised J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $126.50.
Read Our Latest Analysis on J. M. Smucker
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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