Envestnet Asset Management Inc. Buys 16,312 Shares of The J. M. Smucker Company (NYSE:SJM)

Envestnet Asset Management Inc. lifted its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 57.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,810 shares of the company's stock after acquiring an additional 16,312 shares during the period. Envestnet Asset Management Inc.'s holdings in J. M. Smucker were worth $5,306,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Norges Bank bought a new position in J. M. Smucker in the fourth quarter valued at $112,978,000. LSV Asset Management grew its position in J. M. Smucker by 3,599.5% in the fourth quarter. LSV Asset Management now owns 929,400 shares of the company's stock valued at $102,346,000 after purchasing an additional 904,278 shares in the last quarter. Two Sigma Advisers LP grew its position in J. M. Smucker by 76.7% in the fourth quarter. Two Sigma Advisers LP now owns 1,078,892 shares of the company's stock valued at $118,808,000 after purchasing an additional 468,200 shares in the last quarter. FIL Ltd grew its position in J. M. Smucker by 87.8% in the fourth quarter. FIL Ltd now owns 925,000 shares of the company's stock valued at $101,861,000 after purchasing an additional 432,500 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in J. M. Smucker by 21.0% in the fourth 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. Institutional investors own 81.66% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. UBS Group cut their price target on shares of J. M. Smucker from $134.00 to $129.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Wall Street Zen upgraded shares of J. M. Smucker from a "sell" rating to a "hold" rating in a research note on Friday, March 28th. BNP Paribas upgraded shares of J. M. Smucker from a "strong sell" rating to a "strong-buy" rating in a research note on Wednesday, July 9th. Stifel Nicolaus cut their price target on shares of J. M. Smucker from $120.00 to $106.00 and set a "hold" rating for the company in a research note on Wednesday, June 11th. Finally, Wells Fargo & Company cut their target price on shares of J. M. Smucker from $135.00 to $115.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $117.33.

J. M. Smucker Stock Performance

NYSE:SJM traded up $0.47 during mid-day trading on Friday, reaching $109.11. 1,840,887 shares of the company's stock were exchanged, compared to its average volume of 2,094,272. The J. M. Smucker Company has a one year low of $93.30 and a one year high of $125.42. The firm has a market capitalization of $11.62 billion, a PE ratio of -9.44, a price-to-earnings-growth ratio of 8.31 and a beta of 0.31. The business's fifty day simple moving average is $104.99 and its two-hundred day simple moving average is $108.46. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.35 and a current ratio of 0.81.

J. M. Smucker (NYSE:SJM - Get Free Report) last released its earnings results on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.25 by $0.06. J. M. Smucker had a negative net margin of 14.10% and a positive return on equity of 15.20%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period last year, the firm earned $2.66 EPS. The business's quarterly revenue was down 2.8% compared to the same quarter last year. Analysts anticipate that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be issued a $1.10 dividend. This is a positive change from J. M. Smucker's previous quarterly dividend of $1.08. This represents a $4.40 annualized dividend and a yield of 4.03%. The ex-dividend date is Friday, August 15th. J. M. Smucker's dividend payout ratio (DPR) is currently -38.06%.

Insider Buying and Selling

In other news, Director Tarang Amin bought 1,050 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were purchased at an average cost of $96.09 per share, with a total value of $100,894.50. Following the acquisition, the director directly owned 3,825 shares in the company, valued at $367,544.25. This represents a 37.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.24% of the stock is currently owned by corporate insiders.

About J. M. Smucker

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.