Lazard Asset Management LLC Grows Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Lazard Asset Management LLC increased its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 162,556 shares of the company's stock after purchasing an additional 2,545 shares during the quarter. Lazard Asset Management LLC owned approximately 0.15% of J. M. Smucker worth $17,900,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. boosted its position in J. M. Smucker by 3.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 324,381 shares of the company's stock valued at $35,721,000 after acquiring an additional 11,339 shares during the last quarter. Miracle Mile Advisors LLC acquired a new stake in shares of J. M. Smucker in the 4th quarter worth about $1,273,000. Signal Advisors Wealth LLC raised its holdings in shares of J. M. Smucker by 336.3% in the 4th quarter. Signal Advisors Wealth LLC now owns 12,950 shares of the company's stock worth $1,426,000 after acquiring an additional 9,982 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of J. M. Smucker by 88.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,465 shares of the company's stock worth $1,263,000 after acquiring an additional 5,395 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in J. M. Smucker by 285.4% in the 4th quarter. SG Americas Securities LLC now owns 25,304 shares of the company's stock valued at $2,786,000 after buying an additional 18,739 shares during the last quarter. Institutional investors own 81.66% of the company's stock.

J. M. Smucker Trading Up 0.8%

Shares of SJM traded up $0.88 during trading hours on Friday, reaching $113.53. 929,837 shares of the company traded hands, compared to its average volume of 1,171,214. The company's fifty day moving average price is $114.02 and its two-hundred day moving average price is $111.29. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 22.98, a price-to-earnings-growth ratio of 3.91 and a beta of 0.36. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The J. M. Smucker Company has a 12 month low of $98.77 and a 12 month high of $125.42.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $2.61 earnings per share for the quarter, beating analysts' consensus estimates of $2.37 by $0.24. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.23 billion. Equities research analysts predict that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 16th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $4.32 annualized dividend and a yield of 3.81%. J. M. Smucker's dividend payout ratio (DPR) is presently -179.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Morgan Stanley started coverage on shares of J. M. Smucker in a research note on Monday, March 24th. They issued an "overweight" rating and a $123.00 price objective for the company. UBS Group initiated coverage on shares of J. M. Smucker in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $134.00 target price on the stock. StockNews.com upgraded shares of J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Friday, March 28th. DA Davidson lowered their price objective on shares of J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Finally, Stifel Nicolaus decreased their target price on shares of J. M. Smucker from $125.00 to $120.00 and set a "hold" rating on the stock in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $126.50.

Insiders Place Their Bets

In other news, insider Jill R. Penrose sold 5,117 shares of the business's 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 transaction, the insider now directly owns 8,794 shares of the company's stock, valued at $1,022,390.44. The trade was a 36.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tucker H. Marshall sold 5,028 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $113.36, for a total transaction of $569,974.08. Following the transaction, the chief financial officer now directly owns 13,263 shares of the company's stock, valued at $1,503,493.68. The trade was a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.

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.