TD Asset Management Inc Decreases Stake in The J. M. Smucker Company (NYSE:SJM)

Key Points

• TD Asset Management Inc reduced its stake in The J. M. Smucker Company by 11.8%, selling 29,351 shares and owning 219,247 shares at a value of approximately $25.96 million as of the last quarter.
• In the fourth quarter, several hedge funds significantly increased their stakes in J. M. Smucker, with LSV Asset Management raising its stake by 3,599.5%, acquiring an additional 904,278 shares.
• J. M. Smucker announced an increase in its quarterly dividend from $1.08 to $1.10, reflecting a positive annualized yield of 3.94%.

TD Asset Management Inc trimmed its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 11.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 219,247 shares of the company's stock after selling 29,351 shares during the quarter. TD Asset Management Inc owned 0.21% of J. M. Smucker worth $25,961,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SJM shares. Barclays decreased their target price on J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating for the company in a research 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 research report on Wednesday, June 11th. Bank of America decreased their target price on J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, June 11th. UBS Group decreased their target price on J. M. Smucker from $134.00 to $129.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Finally, Royal Bank Of Canada started coverage on J. M. Smucker in a research report on Monday, July 7th. They set an "outperform" rating and a $130.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, J. M. Smucker currently has an average rating of "Moderate Buy" and an average price target of $117.67.

J. M. Smucker Stock Performance

Shares of SJM stock traded up $0.82 on Friday, hitting $108.16. 1,592,961 shares of the stock were exchanged, compared to its average volume of 1,583,709. The company has a current ratio of 0.81, a quick ratio of 0.35 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $11.52 billion, a PE ratio of -9.36, a P/E/G ratio of 8.29 and a beta of 0.31. The J. M. Smucker Company has a one year low of $93.30 and a one year high of $125.42. The firm's 50 day moving average is $104.67 and its two-hundred day moving average is $108.61.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its earnings results on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.25 by $0.06. J. M. Smucker had a positive return on equity of 15.20% and a negative net margin of 14.10%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the company earned $2.66 EPS. The firm's revenue was down 2.8% compared to the same quarter last year. 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 business 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. The ex-dividend date is Friday, August 15th. This represents a $4.40 annualized dividend and a yield of 4.1%. This is an increase from J. M. Smucker's previous quarterly dividend of $1.08. J. M. Smucker's dividend payout ratio is -38.06%.

Insider Buying and Selling

In related news, Director Tarang Amin bought 1,050 shares of the business's stock in a transaction on Thursday, June 12th. The stock was acquired 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 $367,544.25. This trade represents a 37.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.24% of the stock is currently owned by corporate insiders.

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.