Forsta AP Fonden Lowers Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Key Points

• Forsta AP Fonden has reduced its stake in The J. M. Smucker Company by 9.7%, selling 2,400 shares to hold 22,400 shares valued at approximately $2.65 million.
• J. M. Smucker recently announced an increased quarterly dividend of $1.10 per share, representing a 4.0% dividend yield.
• Analysts have mixed ratings on J. M. Smucker, with an average price target of $117.67 and several firms adjusting their targets based on recent performance.

Forsta AP Fonden reduced its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,400 shares of the company's stock after selling 2,400 shares during the period. Forsta AP Fonden's holdings in J. M. Smucker were worth $2,652,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of J. M. Smucker during the fourth quarter worth $27,000. Minot DeBlois Advisors LLC purchased a new position in shares of J. M. Smucker during the fourth quarter worth $28,000. N.E.W. Advisory Services LLC purchased a new position in shares of J. M. Smucker during the first quarter worth $30,000. Cooksen Wealth LLC purchased a new position in shares of J. M. Smucker during the first quarter worth $33,000. Finally, Measured Risk Portfolios Inc. purchased a new position in shares of J. M. Smucker during the fourth quarter worth $29,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

J. M. Smucker Stock Up 0.2%

Shares of NYSE SJM opened at $110.96 on Tuesday. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of -9.60, a price-to-earnings-growth ratio of 8.41 and a beta of 0.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.35. The business has a 50-day moving average of $104.31 and a two-hundred day moving average of $109.07. The J. M. Smucker Company has a 1 year low of $93.30 and a 1 year high of $125.42.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.25 by $0.06. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.18 billion. J. M. Smucker had a positive return on equity of 15.20% and a negative net margin of 14.10%. J. M. Smucker's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.66 EPS. On average, analysts forecast 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. Stockholders of record on Friday, August 15th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from J. M. Smucker's previous quarterly dividend of $1.08. The ex-dividend date is Friday, August 15th. J. M. Smucker's payout ratio is presently -37.37%.

Insider Activity at J. M. Smucker

In other news, Director Tarang Amin bought 1,050 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were acquired at an average price of $96.09 per share, for a total transaction of $100,894.50. Following the completion of the transaction, the director owned 3,825 shares of the company's stock, valued at approximately $367,544.25. This trade 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 accessible through this link. Company insiders own 2.24% of the company's stock.

Wall Street Analysts Forecast Growth

SJM has been the subject of several research analyst reports. Stifel Nicolaus raised their price target on J. M. Smucker from $106.00 to $110.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Citigroup decreased their target price on J. M. Smucker from $128.00 to $118.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Wells Fargo & Company decreased their target price on J. M. Smucker from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Morgan Stanley reiterated an "overweight" rating and issued a $124.00 target price (up from $123.00) on shares of J. M. Smucker in a report on Friday, June 6th. Finally, Jefferies Financial Group upgraded J. M. Smucker from a "hold" rating to a "buy" rating and decreased their target price for the company from $118.00 to $115.00 in a report on Wednesday, June 11th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $117.67.

J. M. Smucker Company 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.

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