Bank of New York Mellon Corp Grows Stock Position in The J. M. Smucker Company (NYSE:SJM)

Bank of New York Mellon Corp raised its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 986,235 shares of the company's stock after acquiring an additional 8,418 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.93% of J. M. Smucker worth $116,780,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in J. M. Smucker by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 13,344,933 shares of the company's stock valued at $1,469,544,000 after acquiring an additional 130,533 shares in the last quarter. FMR LLC boosted its position in J. M. Smucker by 11.3% during the 4th quarter. FMR LLC now owns 3,734,305 shares of the company's stock valued at $411,222,000 after acquiring an additional 380,309 shares in the last quarter. Geode Capital Management LLC boosted its position in J. M. Smucker by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 2,609,952 shares of the company's stock valued at $286,664,000 after acquiring an additional 58,231 shares in the last quarter. Invesco Ltd. boosted its position in J. M. Smucker by 21.0% during the 4th quarter. Invesco Ltd. now owns 2,415,023 shares of the company's stock valued at $265,942,000 after acquiring an additional 418,878 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in J. M. Smucker by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,009,017 shares of the company's stock valued at $221,232,000 after acquiring an additional 33,758 shares in the last quarter. Institutional investors own 81.66% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on SJM shares. UBS Group dropped their target price on J. M. Smucker from $134.00 to $129.00 and set a "buy" rating on the stock in a research report on Friday, June 6th. Wells Fargo & Company lowered their price objective 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. Wall Street Zen raised J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Friday, March 28th. Stifel Nicolaus lowered their price objective on J. M. Smucker from $120.00 to $106.00 and set a "hold" rating for the company in a research report on Wednesday, June 11th. Finally, Royal Bank Of Canada started coverage on J. M. Smucker in a research report on Monday. They issued an "outperform" rating and a $130.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $117.33.

Insider Transactions at J. M. Smucker

In related news, Director Tarang Amin acquired 1,050 shares of J. M. Smucker 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 owned 3,825 shares of the company's stock, valued at approximately $367,544.25. This represents a 37.84% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.24% of the stock is owned by company insiders.

J. M. Smucker Stock Performance

SJM stock traded up $0.09 during midday trading on Friday, reaching $104.75. The stock had a trading volume of 1,874,668 shares, compared to its average volume of 1,313,326. The stock has a market cap of $11.16 billion, a PE ratio of -9.06, a P/E/G ratio of 7.89 and a beta of 0.31. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.35 and a current ratio of 0.81. The firm has a fifty day simple moving average of $106.02 and a two-hundred day simple moving average of $108.66. The J. M. Smucker Company has a 52-week low of $93.30 and a 52-week high of $125.42.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.25 by $0.06. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.18 billion. J. M. Smucker had a positive return on equity of 15.20% and a negative net margin of 14.10%. The firm's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $2.66 EPS. As a group, equities research analysts anticipate that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a $1.08 dividend. The ex-dividend date was Friday, May 16th. This represents a $4.32 dividend on an annualized basis and a yield of 4.12%. J. M. Smucker's dividend payout ratio (DPR) is -37.37%.

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.