Keybank National Association OH Grows Stock Position in The J. M. Smucker Company $SJM

Key Points

• KeyBank National Association OH increased its stake in The J. M. Smucker Company by 500.2% in Q4, adding 138,407 shares to hold 166,080 shares worth about $16.24 million, and institutional investors now own roughly 81.66% of the company.
• Smucker declared a quarterly dividend of $1.10 per share (annualized $4.40) to be paid June 1 with an ex-dividend/record date of May 15, implying a yield of about 4.5%.
• The company beat Q4 estimates with EPS of $2.38 (vs. $2.27 expected) and revenue of $2.34 billion (up 7% YoY), but reported a negative net margin (-14.07%), and analysts have a consensus rating of "Hold" with an average price target of $117.25.

Keybank National Association OH boosted its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 500.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 166,080 shares of the company's stock after acquiring an additional 138,407 shares during the quarter. Keybank National Association OH owned about 0.16% of J. M. Smucker worth $16,244,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. UBS Group AG boosted its holdings in J. M. Smucker by 238.7% in the 4th quarter. UBS Group AG now owns 3,924,282 shares of the company's stock worth $383,834,000 after acquiring an additional 2,765,559 shares during the period. Dimensional Fund Advisors LP boosted its holdings in J. M. Smucker by 10.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,541,357 shares of the company's stock worth $275,982,000 after acquiring an additional 239,586 shares during the period. ProShare Advisors LLC boosted its holdings in J. M. Smucker by 13.8% in the 3rd quarter. ProShare Advisors LLC now owns 1,562,259 shares of the company's stock worth $169,661,000 after acquiring an additional 188,868 shares during the period. Two Sigma Investments LP raised its position in shares of J. M. Smucker by 6,854.4% in the 3rd quarter. Two Sigma Investments LP now owns 1,527,962 shares of the company's stock valued at $165,937,000 after purchasing an additional 1,505,991 shares in the last quarter. Finally, National Bank of Canada FI raised its position in shares of J. M. Smucker by 797.4% in the 3rd quarter. National Bank of Canada FI now owns 1,401,173 shares of the company's stock valued at $152,167,000 after purchasing an additional 1,245,035 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.

J. M. Smucker Stock Performance

SJM stock opened at $96.79 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.35 and a debt-to-equity ratio of 1.31. The firm has a market cap of $10.32 billion, a P/E ratio of -8.21, a P/E/G ratio of 4.14 and a beta of 0.27. The J. M. Smucker Company has a 12-month low of $88.25 and a 12-month high of $119.39. The stock's 50 day simple moving average is $100.96 and its 200 day simple moving average is $102.42.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.11. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.32 billion. J. M. Smucker had a positive return on equity of 15.94% and a negative net margin of 14.07%.The business's revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.61 EPS. As a group, equities research analysts predict that The J. M. Smucker Company will post 9.04 EPS for the current year.

J. M. Smucker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, May 15th. J. M. Smucker's dividend payout ratio is currently -37.32%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SJM. Bank of America raised J. M. Smucker from a "neutral" rating to a "buy" rating and set a $130.00 target price on the stock in a research report on Monday, February 23rd. Wells Fargo & Company cut their target price on J. M. Smucker from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 8th. BTIG Research began coverage on J. M. Smucker in a research report on Monday, April 13th. They issued a "buy" rating and a $120.00 target price on the stock. Canaccord Genuity Group raised J. M. Smucker to a "buy" rating in a research report on Friday, January 16th. Finally, Stifel Nicolaus cut their target price on J. M. Smucker from $120.00 to $100.00 and set a "hold" rating on the stock in a research report on Tuesday, April 21st. Ten investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $117.25.

About J. M. Smucker

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company's main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker's core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker's® fruit spreads, Jif® peanut butter, Folgers® and Dunkin'® coffees, and Café Bustelo® coffee.

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