The J. M. Smucker Company $SJM Shares Sold by M&T Bank Corp

Key Points

• M&T Bank Corp cut its stake in The J. M. Smucker Company by 51.9% in Q4, selling 25,234 shares and finishing the quarter with 23,375 shares valued at $2.286 million.
• Wall Street sentiment is mixed: the consensus rating is "Hold" with an average target of $117.25, while individual analysts have both lowered and raised price targets in recent reports.
• Smucker beat quarterly EPS estimates ($2.38 vs. $2.27), reported revenue up 7% year-over-year, and announced a $1.10 quarterly dividend (4.5% yield) payable June 1.

M&T Bank Corp decreased its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 51.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,375 shares of the company's stock after selling 25,234 shares during the quarter. M&T Bank Corp's holdings in J. M. Smucker were worth $2,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in J. M. Smucker by 9.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 131,985 shares of the company's stock valued at $12,962,000 after buying an additional 11,792 shares during the period. TABR Capital Management LLC purchased a new stake in J. M. Smucker in the 4th quarter valued at about $2,616,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in J. M. Smucker by 130.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 184,104 shares of the company's stock valued at $18,007,000 after buying an additional 104,299 shares during the period. Hudson Edge Investment Partners Inc. grew its holdings in J. M. Smucker by 20.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 72,437 shares of the company's stock valued at $7,085,000 after buying an additional 12,540 shares during the period. Finally, Bayforest Capital Ltd grew its holdings in J. M. Smucker by 1,146.7% in the 4th quarter. Bayforest Capital Ltd now owns 2,481 shares of the company's stock valued at $243,000 after buying an additional 2,282 shares during the period. Hedge funds and other institutional investors own 81.66% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Deutsche Bank Aktiengesellschaft lowered their price target on J. M. Smucker from $117.00 to $97.00 and set a "hold" rating for the company in a report on Monday, March 30th. BNP Paribas Exane set a $125.00 price target on J. M. Smucker in a report on Thursday, April 9th. Wells Fargo & Company lowered their price target on J. M. Smucker from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, April 8th. JPMorgan Chase & Co. lifted their price target on J. M. Smucker from $121.00 to $122.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Finally, Morgan Stanley lowered their price target on J. M. Smucker from $118.00 to $104.00 and set an "equal weight" rating for the company in a report on Thursday, April 23rd. Ten equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $117.25.

J. M. Smucker Stock Up 2.9%

Shares of NYSE:SJM opened at $98.11 on Wednesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.35 and a current ratio of 0.84. 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 capitalization of $10.46 billion, a P/E ratio of -8.32, a PEG ratio of 4.14 and a beta of 0.27. The stock has a 50-day simple moving average of $101.18 and a 200-day simple moving average of $102.46.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $2.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.32 billion. During the same quarter in the previous year, the business earned $2.61 EPS. The company's revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts forecast that The J. M. Smucker Company will post 9.04 earnings per share for the current year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be issued a dividend of $1.10 per share. The ex-dividend date is Friday, May 15th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.5%. J. M. Smucker's payout ratio is presently -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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