Douglas Lane & Associates LLC Raises Position in The J. M. Smucker Company (NYSE:SJM)

Douglas Lane & Associates LLC increased its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 11.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 302,350 shares of the company's stock after buying an additional 31,051 shares during the quarter. Douglas Lane & Associates LLC owned about 0.28% of J. M. Smucker worth $35,801,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SJM. Norges Bank purchased a new stake in shares of J. M. Smucker during the fourth quarter valued at $112,978,000. LSV Asset Management grew its holdings in shares of J. M. Smucker by 3,599.5% during the fourth quarter. LSV Asset Management now owns 929,400 shares of the company's stock valued at $102,346,000 after buying an additional 904,278 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in J. M. Smucker by 76.7% in the fourth quarter. Two Sigma Advisers LP now owns 1,078,892 shares of the company's stock valued at $118,808,000 after purchasing an additional 468,200 shares during the last quarter. FIL Ltd boosted its holdings in J. M. Smucker by 87.8% in the fourth quarter. FIL Ltd now owns 925,000 shares of the company's stock valued at $101,861,000 after purchasing an additional 432,500 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in J. M. Smucker by 21.0% in the fourth quarter. Invesco Ltd. now owns 2,415,023 shares of the company's stock valued at $265,942,000 after purchasing an additional 418,878 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Price Performance

Shares of SJM traded up $0.52 during mid-day trading on Tuesday, hitting $112.52. 787,837 shares of the company were exchanged, compared to its average volume of 1,148,802. 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 quick ratio of 0.27 and a current ratio of 0.58. The company has a 50 day moving average of $114.35 and a 200-day moving average of $111.23. The stock has a market cap of $11.97 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 3.91 and a beta of 0.35.

J. M. Smucker Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a dividend of $1.08 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.84%. J. M. Smucker's dividend payout ratio is currently -179.25%.

Insider Transactions at J. M. Smucker

In related news, CFO Tucker H. Marshall sold 5,028 shares of J. M. Smucker stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $113.36, for a total value of $569,974.08. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jill R. Penrose sold 5,117 shares of J. M. Smucker stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $116.26, for a total transaction of $594,902.42. Following the completion of the sale, the insider now owns 8,794 shares of the company's stock, valued at $1,022,390.44. This trade represents a 36.78% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group assumed coverage on shares of J. M. Smucker in a report on Wednesday, April 23rd. They issued a "buy" rating and a $134.00 price target on the stock. Wall Street Zen raised shares of J. M. Smucker from a "sell" rating to a "hold" rating in a report on Friday, March 28th. Jefferies Financial Group reaffirmed a "hold" rating on shares of J. M. Smucker in a report on Wednesday, May 28th. Citigroup lowered their target price on shares of J. M. Smucker from $129.00 to $128.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. Finally, Barclays lowered their target price on shares of J. M. Smucker from $123.00 to $119.00 and set an "equal weight" rating on the stock in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, J. M. Smucker currently has a consensus rating of "Hold" and an average target price of $125.70.

About J. M. Smucker

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.