KLP Kapitalforvaltning AS Has $6.40 Million Position in The J. M. Smucker Company (NYSE:SJM)

KLP Kapitalforvaltning AS lifted its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 42.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,023 shares of the company's stock after buying an additional 16,000 shares during the quarter. KLP Kapitalforvaltning AS owned approximately 0.05% of J. M. Smucker worth $6,397,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SJM. Merit Financial Group LLC acquired a new position in shares of J. M. Smucker during the first quarter worth $203,000. Farther Finance Advisors LLC grew its position in shares of J. M. Smucker by 113.5% during the first quarter. Farther Finance Advisors LLC now owns 2,923 shares of the company's stock worth $346,000 after acquiring an additional 1,554 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of J. M. Smucker by 124.8% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 13,355 shares of the company's stock worth $1,471,000 after acquiring an additional 7,414 shares during the last quarter. Sterling Capital Management LLC grew its position in J. M. Smucker by 55.5% in the 4th quarter. Sterling Capital Management LLC now owns 6,117 shares of the company's stock valued at $674,000 after buying an additional 2,182 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in J. M. Smucker by 1.6% in the 1st quarter. State of Alaska Department of Revenue now owns 20,968 shares of the company's stock valued at $2,482,000 after buying an additional 335 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

J. M. Smucker Trading Up 0.4%

Shares of J. M. Smucker stock traded up $0.47 during trading on Friday, hitting $109.11. 1,840,887 shares of the company were exchanged, compared to its average volume of 2,094,272. The firm has a market capitalization of $11.62 billion, a P/E ratio of -9.44, a price-to-earnings-growth ratio of 8.31 and a beta of 0.31. The J. M. Smucker Company has a 1-year low of $93.30 and a 1-year high of $125.42. The firm's fifty day moving average price is $104.99 and its 200 day moving average price is $108.46. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.35.

J. M. Smucker (NYSE:SJM - Get Free Report) last released its quarterly earnings data 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 business had revenue of $2.14 billion for the quarter, compared to analysts' expectations 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 quarter in the previous year, the business posted $2.66 EPS. As a group, sell-side analysts expect 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 paid a $1.10 dividend. This is a boost from J. M. Smucker's previous quarterly dividend of $1.08. The ex-dividend date is Friday, August 15th. This represents a $4.40 annualized dividend and a yield of 4.03%. J. M. Smucker's payout ratio is presently -38.06%.

Insider Activity

In related news, Director Tarang Amin acquired 1,050 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were bought at an average price of $96.09 per share, for a total transaction of $100,894.50. Following the purchase, the director directly owned 3,825 shares in the company, valued at approximately $367,544.25. This trade represents a 37.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Friday, March 28th. Barclays dropped their price objective on J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 11th. Citigroup dropped their price objective 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. UBS Group lowered their price target 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. Finally, 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. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, J. M. Smucker presently has an average rating of "Moderate Buy" and an average target price of $117.33.

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.