Fifth Third Bancorp lowered its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 19.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,710 shares of the company's stock after selling 2,654 shares during the quarter. Fifth Third Bancorp's holdings in J. M. Smucker were worth $1,268,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in J. M. Smucker by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 13,344,933 shares of the company's stock valued at $1,469,544,000 after buying an additional 130,533 shares during the last quarter. FMR LLC lifted its stake in 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 buying an additional 380,309 shares during the last quarter. Geode Capital Management LLC lifted its stake in J. M. Smucker by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 2,609,952 shares of the company's stock valued at $286,664,000 after buying an additional 58,231 shares during the last quarter. 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 buying an additional 418,878 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake 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 buying an additional 33,758 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.
J. M. Smucker Stock Performance
NYSE:SJM opened at $95.73 on Monday. 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 J. M. Smucker Company has a fifty-two week low of $93.93 and a fifty-two week high of $125.42. The stock has a market cap of $10.19 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 3.91 and a beta of 0.35. The firm's fifty day simple moving average is $112.29 and its 200-day simple moving average is $110.61.
J. M. Smucker (NYSE:SJM - Get Free Report) last posted its earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.06. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.18 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. J. M. Smucker's revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.66 earnings per share. Analysts expect that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.
J. M. Smucker Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 4.51%. The ex-dividend date was Friday, May 16th. J. M. Smucker's dividend payout ratio (DPR) is -37.37%.
Analysts Set New Price Targets
SJM has been the topic of a number of recent research reports. Stifel Nicolaus dropped their target price on J. M. Smucker from $120.00 to $106.00 and set a "hold" rating on the stock in a report on Wednesday, June 11th. Jefferies Financial Group raised J. M. Smucker from a "hold" rating to a "buy" rating and dropped their target price for the company from $118.00 to $115.00 in a report on Wednesday, June 11th. Wells Fargo & Company dropped their target price on J. M. Smucker from $135.00 to $115.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Citigroup dropped their target price on J. M. Smucker from $128.00 to $118.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Finally, UBS Group dropped their target price on J. M. Smucker from $134.00 to $129.00 and set a "buy" rating on the stock in a report on Friday, June 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, J. M. Smucker presently has a consensus rating of "Hold" and an average target price of $115.80.
Check Out Our Latest Report on SJM
Insider Buying and Selling at J. M. Smucker
In related news, Director Tarang Amin acquired 1,050 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were acquired at an average price of $96.09 per share, with a total value of $100,894.50. Following the completion of the purchase, the director now directly owns 3,825 shares in the company, valued at approximately $367,544.25. The trade was a 37.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jill R. Penrose sold 5,117 shares of the stock in a transaction on 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 directly owns 8,794 shares in the company, 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 corporate insiders.
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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