Envestnet Asset Management Inc. Sells 30,693 Shares of The J. M. Smucker Company (NYSE:SJM)

Envestnet Asset Management Inc. reduced its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 51.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,498 shares of the company's stock after selling 30,693 shares during the quarter. Envestnet Asset Management Inc.'s holdings in J. M. Smucker were worth $3,138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of J. M. Smucker during the 4th quarter valued at $112,978,000. Raymond James Financial Inc. acquired a new stake in J. M. Smucker during the 4th quarter worth about $32,988,000. Amundi boosted its holdings in shares of J. M. Smucker by 49.3% in the fourth quarter. Amundi now owns 628,381 shares of the company's stock worth $66,250,000 after buying an additional 207,477 shares during the period. Nordea Investment Management AB raised its holdings 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 during the period. Finally, Trexquant Investment LP purchased a new stake in shares of J. M. Smucker in the 4th quarter valued at approximately $15,886,000. 81.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SJM has been the topic of several research reports. Morgan Stanley started coverage on shares of J. M. Smucker in a research note on Monday, March 24th. They issued an "overweight" rating and a $123.00 price objective on the stock. TD Cowen lowered shares of J. M. Smucker from a "buy" rating to a "hold" rating and lowered their target price for the company from $130.00 to $121.00 in a research note on Wednesday, January 8th. Stifel Nicolaus decreased their price target on shares of J. M. Smucker from $125.00 to $120.00 and set a "hold" rating for the company in a report on Friday, January 24th. Barclays dropped their price target 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. Finally, DA Davidson dropped 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, J. M. Smucker currently has a consensus rating of "Hold" and a consensus target price of $126.50.

J. M. Smucker Stock Up 0.8 %

Shares of NYSE:SJM traded up $0.94 during mid-day trading on Wednesday, reaching $116.23. 1,578,321 shares of the stock were exchanged, compared to its average volume of 1,169,608. The stock's 50 day simple moving average is $113.85 and its 200-day simple moving average is $111.76. The J. M. Smucker Company has a one year low of $98.77 and a one year high of $125.42. The company has a market cap of $12.37 billion, a P/E ratio of 23.53, a P/E/G ratio of 3.91 and a beta of 0.35. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $2.61 EPS for the quarter, topping analysts' consensus estimates of $2.37 by $0.24. The business had revenue of $2.19 billion for 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%. As a group, equities research 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 announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.72%. J. M. Smucker's dividend payout ratio is presently -179.25%.

Insider Transactions at J. M. Smucker

In other J. M. Smucker news, CFO Tucker H. Marshall sold 5,028 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $113.36, for a total transaction of $569,974.08. Following the transaction, the chief financial officer now owns 13,263 shares in the company, valued at $1,503,493.68. This trade represents a 27.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jill R. Penrose sold 5,117 shares of the business's 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 completion of the sale, the insider now directly 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 owned by company insiders.

J. M. Smucker 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.