Swedbank AB Purchases 27,272 Shares of The J. M. Smucker Company $SJM

Key Points

• Swedbank AB increased its stake in J. M. Smucker by 17.8% in the fourth quarter, buying 27,272 more shares and bringing its total holding to 180,595 shares worth about $17.7 million.
• Analyst sentiment is mixed: recent rating changes included downgrades from Wall Street Zen, Barclays, and Deutsche Bank, while Canaccord Genuity upgraded the stock to buy. The consensus rating remains Hold with an average target price of $116.56.
• Smucker posted better-than-expected quarterly results, with EPS of $2.38 versus estimates of $2.27 and revenue of $2.34 billion, up 7% year over year. The company also announced a quarterly dividend of $1.10 per share, yielding 4.4% annually.

Swedbank AB lifted its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 17.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 180,595 shares of the company's stock after buying an additional 27,272 shares during the period. Swedbank AB owned about 0.17% of J. M. Smucker worth $17,664,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SJM. CYBER HORNET ETFs LLC purchased a new position in shares of J. M. Smucker during the second quarter valued at approximately $27,000. Root Financial Partners LLC purchased a new position in shares of J. M. Smucker during the third quarter valued at approximately $29,000. MUFG Securities EMEA plc purchased a new position in shares of J. M. Smucker during the second quarter valued at approximately $31,000. First Horizon Corp purchased a new position in shares of J. M. Smucker during the third quarter valued at approximately $56,000. Finally, Fairway Wealth LLC purchased a new position in shares of J. M. Smucker during the third quarter valued at approximately $59,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wall Street Zen cut J. M. Smucker from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Barclays cut their target price on J. M. Smucker from $125.00 to $103.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 14th. BNP Paribas Exane set a $125.00 target price on J. M. Smucker in a research report on Thursday, April 9th. Canaccord Genuity Group raised J. M. Smucker to a "buy" rating in a research report on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on J. M. Smucker from $117.00 to $97.00 and set a "hold" rating on the stock in a research report on Monday, March 30th. Ten analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $116.56.

J. M. Smucker Stock Down 0.3%

SJM stock opened at $99.18 on Friday. The stock's fifty day simple moving average is $99.98 and its two-hundred day simple moving average is $102.25. 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 J. M. Smucker Company has a 1-year low of $88.25 and a 1-year high of $119.39. The stock has a market cap of $10.58 billion, a P/E ratio of -8.41, a P/E/G ratio of 3.99 and a beta of 0.25.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.11. J. M. Smucker had a positive return on equity of 15.94% and a negative net margin of 14.07%.The business had revenue of $2.34 billion for the quarter, compared to analysts' expectations of $2.32 billion. During the same quarter in the previous year, the firm earned $2.61 earnings per share. The business's revenue was up 7.0% on a year-over-year basis. Analysts expect that The J. M. Smucker Company will post 9.04 EPS for the current year.

J. M. Smucker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be given a $1.10 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.40 annualized dividend and a yield of 4.4%. J. M. Smucker's payout ratio is currently -37.32%.

J. M. Smucker Company Profile

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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