Rhumbline Advisers Boosts Position in The J. M. Smucker Company (NYSE:SJM)

Rhumbline Advisers increased its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 13.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 222,279 shares of the company's stock after buying an additional 27,049 shares during the period. Rhumbline Advisers owned about 0.21% of J. M. Smucker worth $26,320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Capital Advisors Ltd. LLC lifted its holdings in shares of J. M. Smucker by 188.8% in the fourth quarter. Capital Advisors Ltd. LLC now owns 231 shares of the company's stock valued at $25,000 after purchasing an additional 151 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of J. M. Smucker in the fourth quarter valued at about $27,000. Kentucky Trust Co purchased a new stake in J. M. Smucker in the 4th quarter valued at approximately $28,000. Minot DeBlois Advisors LLC purchased a new stake in J. M. Smucker in the 4th quarter valued at approximately $28,000. Finally, Measured Risk Portfolios Inc. purchased a new stake in J. M. Smucker in the 4th quarter valued at approximately $29,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Jill R. Penrose sold 5,117 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $116.26, for a total value of $594,902.42. Following the transaction, the insider now directly owns 8,794 shares of the company's stock, valued at approximately $1,022,390.44. This trade represents a 36.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Tucker H. Marshall sold 5,028 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $113.36, for a total value of $569,974.08. Following the completion of the transaction, the chief financial officer now owns 13,263 shares in the company, valued at approximately $1,503,493.68. This trade represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

J. M. Smucker Trading Down 1.0%

Shares of SJM stock opened at $110.91 on Friday. The firm has a market cap of $11.80 billion, a P/E ratio of 22.45, a PEG ratio of 3.91 and a beta of 0.35. The J. M. Smucker Company has a 1-year low of $98.77 and a 1-year high of $125.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27. The firm's 50-day simple moving average is $114.04 and its 200-day simple moving average is $111.25.

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Friday, May 16th. J. M. Smucker's dividend payout ratio is currently -179.25%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SJM shares. Barclays reduced their price objective on J. M. Smucker from $123.00 to $119.00 and set an "equal weight" rating on the stock in a research report on Monday, March 3rd. Morgan Stanley assumed coverage on shares of J. M. Smucker in a report on Monday, March 24th. They issued an "overweight" rating and a $123.00 target price on the stock. Jefferies Financial Group restated a "hold" rating on shares of J. M. Smucker in a report on Wednesday, May 28th. DA Davidson reduced their target price on shares of J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Finally, Wall Street Zen raised shares of J. M. Smucker from a "sell" rating to a "hold" rating in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $125.70.

J. M. Smucker 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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