New York State Teachers Retirement System Cuts Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

New York State Teachers Retirement System trimmed its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 9.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,960 shares of the company's stock after selling 10,075 shares during the quarter. New York State Teachers Retirement System owned 0.09% of J. M. Smucker worth $12,254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SJM. Campbell & CO Investment Adviser LLC bought a new position in J. M. Smucker in the third quarter valued at about $464,000. Citigroup Inc. raised its position in J. M. Smucker by 15.1% in the 3rd quarter. Citigroup Inc. now owns 277,459 shares of the company's stock valued at $34,103,000 after buying an additional 36,296 shares during the last quarter. Vest Financial LLC raised its position in J. M. Smucker by 58.3% in the 4th quarter. Vest Financial LLC now owns 238,048 shares of the company's stock valued at $30,085,000 after buying an additional 87,682 shares during the last quarter. Comerica Bank acquired a new position in shares of J. M. Smucker during the 3rd quarter worth approximately $5,522,000. Finally, Northern Trust Corp increased its position in shares of J. M. Smucker by 2.1% during the 3rd quarter. Northern Trust Corp now owns 1,457,736 shares of the company's stock worth $179,170,000 after purchasing an additional 29,728 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SJM has been the subject of several recent research reports. Barclays boosted their price target on J. M. Smucker from $129.00 to $132.00 and gave the company an "equal weight" rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. upped their price target on J. M. Smucker from $126.00 to $128.00 and gave the company a "neutral" rating in a research report on Wednesday, February 28th. TD Cowen cut their target price on J. M. Smucker from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday. Stifel Nicolaus upgraded J. M. Smucker from a "hold" rating to a "buy" rating and set a $135.00 price target on the stock in a report on Wednesday, February 28th. Finally, DA Davidson started coverage on J. M. Smucker in a research note on Friday, March 1st. They issued a "neutral" rating and a $132.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, J. M. Smucker currently has a consensus rating of "Hold" and an average price target of $137.47.

J. M. Smucker Stock Performance

NYSE:SJM traded down $3.83 during trading hours on Wednesday, reaching $113.54. The stock had a trading volume of 1,340,541 shares, compared to its average volume of 1,272,914. The J. M. Smucker Company has a 12-month low of $107.33 and a 12-month high of $159.92. The stock has a 50 day simple moving average of $123.89 and a 200 day simple moving average of $121.30. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.38 and a current ratio of 0.78. The stock has a market cap of $12.06 billion, a P/E ratio of -129.02, a price-to-earnings-growth ratio of 1.85 and a beta of 0.21.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.21. J. M. Smucker had a positive return on equity of 14.29% and a negative net margin of 1.24%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the company earned $2.21 earnings per share. The business's revenue for the quarter was up .6% on a year-over-year basis. On average, research analysts forecast that The J. M. Smucker Company will post 9.6 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Thursday, February 15th. J. M. Smucker's payout ratio is currently -481.81%.

Insider Transactions at J. M. Smucker

In related news, insider Jeannette L. Knudsen sold 3,200 shares of J. M. Smucker stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $124.77, for a total transaction of $399,264.00. Following the completion of the sale, the insider now owns 8,946 shares of the company's stock, valued at $1,116,192.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.50% of the company's stock.

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.