Crestline Management LP lifted its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 34.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,958 shares of the company's stock after acquiring an additional 20,437 shares during the quarter. Crestline Management LP owned 0.08% of J. M. Smucker worth $8,805,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in J. M. Smucker by 3.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 324,381 shares of the company's stock valued at $35,721,000 after purchasing an additional 11,339 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of J. M. Smucker by 16.5% in the 4th quarter. Nordea Investment Management AB now owns 1,361,902 shares of the company's stock worth $150,082,000 after buying an additional 192,748 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in J. M. Smucker during the 4th quarter valued at about $1,273,000. Signal Advisors Wealth LLC raised its position in J. M. Smucker by 336.3% during the fourth quarter. Signal Advisors Wealth LLC now owns 12,950 shares of the company's stock worth $1,426,000 after acquiring an additional 9,982 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its holdings in shares of J. M. Smucker by 6.7% in the fourth quarter. Douglas Lane & Associates LLC now owns 271,299 shares of the company's stock valued at $29,875,000 after purchasing an additional 16,963 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.
J. M. Smucker Trading Down 0.5 %
Shares of NYSE SJM traded down $0.54 during trading on Friday, hitting $111.48. 1,086,012 shares of the company traded hands, compared to its average volume of 1,171,966. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $11.86 billion, a P/E ratio of 22.57, a P/E/G ratio of 3.91 and a beta of 0.36. The company has a 50-day moving average price of $114.20 and a 200-day moving average price of $111.38. The J. M. Smucker Company has a 1 year low of $98.77 and a 1 year high of $125.42.
J. M. Smucker (NYSE:SJM - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $2.61 EPS for the quarter, beating analysts' consensus estimates of $2.37 by $0.24. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate 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 predict that The J. M. Smucker Company will post 9.88 EPS for the current year.
J. M. Smucker Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.88%. The ex-dividend date is Friday, May 16th. J. M. Smucker's dividend payout ratio (DPR) is -179.25%.
Insiders Place Their Bets
In other news, CFO Tucker H. Marshall sold 5,028 shares of the company's 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 sale, the chief financial officer now owns 13,263 shares in the company, valued at approximately $1,503,493.68. This represents a 27.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jill R. Penrose sold 5,117 shares of J. M. Smucker 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 of the company's stock, valued at approximately $1,022,390.44. The trade was a 36.78 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on SJM. Stifel Nicolaus dropped 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 note on Friday, January 24th. DA Davidson cut their price target 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 upgraded J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Friday, March 28th. Barclays decreased their price target on shares of J. M. Smucker from $123.00 to $119.00 and set an "equal weight" rating on the stock in a research note on Monday, March 3rd. Finally, Morgan Stanley started coverage on shares of J. M. Smucker in a research report on Monday, March 24th. They issued an "overweight" rating and a $123.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, J. M. Smucker presently has a consensus rating of "Hold" and an average target price of $126.50.
Read Our Latest Stock Report on SJM
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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