Zurcher Kantonalbank Zurich Cantonalbank Buys 104,299 Shares of The J. M. Smucker Company $SJM

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in The J. M. Smucker Company by 130.7% in Q4, buying 104,299 shares to own 184,104 shares (~0.17% of the company) valued at about $18.0 million.
• Analyst coverage is mixed but leaning neutral: ten analysts rate SJM a Buy, nine a Hold and one a Sell, giving an average rating of “Hold” and an average price target of $117.31, though several firms recently raised ratings and targets.
• Operationally SJM beat Q4 estimates with $2.38 EPS (vs. $2.27 est.) and $2.34B revenue (vs. $2.32B est.), and announced a quarterly dividend of $1.10 per share (4.6% yield) payable June 1.

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 130.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 184,104 shares of the company's stock after buying an additional 104,299 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.17% of J. M. Smucker worth $18,007,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hudson Edge Investment Partners Inc. grew its stake in shares of J. M. Smucker by 20.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 72,437 shares of the company's stock worth $7,085,000 after buying an additional 12,540 shares during the last quarter. Bayforest Capital Ltd grew its stake in shares of J. M. Smucker by 1,146.7% during the fourth quarter. Bayforest Capital Ltd now owns 2,481 shares of the company's stock worth $243,000 after buying an additional 2,282 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of J. M. Smucker by 0.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 73,723 shares of the company's stock worth $7,317,000 after buying an additional 663 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of J. M. Smucker by 7.5% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 10,753 shares of the company's stock worth $1,031,000 after purchasing an additional 751 shares during the period. Finally, AE Wealth Management LLC grew its stake in shares of J. M. Smucker by 10.8% in the fourth quarter. AE Wealth Management LLC now owns 44,064 shares of the company's stock worth $4,310,000 after purchasing an additional 4,312 shares during the last quarter. Institutional investors own 81.66% of the company's stock.

Analyst Ratings Changes

SJM has been the topic of several analyst reports. BNP Paribas Exane set a $125.00 price objective on shares of J. M. Smucker in a research note on Thursday, April 9th. Sanford C. Bernstein raised shares of J. M. Smucker from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $121.00 to $145.00 in a research note on Wednesday, March 11th. Bank of America raised shares of J. M. Smucker from a "neutral" rating to a "buy" rating and set a $130.00 price objective on the stock in a research note on Monday, February 23rd. Wall Street Zen cut shares of J. M. Smucker from a "buy" rating to a "hold" rating in a research note on Sunday, March 8th. Finally, Canaccord Genuity Group raised shares of J. M. Smucker to a "buy" rating in a research note on Friday, January 16th. Ten investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, J. M. Smucker has an average rating of "Hold" and an average price target of $117.31.

J. M. Smucker Price Performance

SJM stock opened at $94.79 on Thursday. The firm has a market cap of $10.11 billion, a price-to-earnings ratio of -8.04, a PEG ratio of 4.16 and a beta of 0.27. The company has a quick ratio of 0.35, a current ratio of 0.84 and a debt-to-equity ratio of 1.31. The J. M. Smucker Company has a 12-month low of $88.25 and a 12-month high of $119.39. The company's fifty day simple moving average is $102.23 and its 200 day simple moving average is $102.76.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.11. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the business earned $2.61 earnings per share. The business's quarterly revenue was up 7.0% compared to the same quarter last year. On average, analysts expect that The J. M. Smucker Company will post 9.05 earnings per share for the current year.

J. M. Smucker Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 4.6%. J. M. Smucker's dividend 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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