Mackenzie Financial Corp Buys 11,618 Shares of The J. M. Smucker Company (NYSE:SJM)

Mackenzie Financial Corp grew its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,111 shares of the company's stock after buying an additional 11,618 shares during the quarter. Mackenzie Financial Corp owned 0.09% of J. M. Smucker worth $11,767,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its stake in shares of J. M. Smucker by 85,116.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,102,297 shares of the company's stock valued at $333,130,000 after purchasing an additional 2,099,830 shares in the last quarter. Norges Bank bought a new position in shares of J. M. Smucker in the fourth quarter worth $219,033,000. Ameriprise Financial Inc. grew its stake in shares of J. M. Smucker by 487.5% in the third quarter. Ameriprise Financial Inc. now owns 1,459,200 shares of the company's stock worth $178,961,000 after purchasing an additional 1,210,837 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of J. M. Smucker by 363.8% in the fourth quarter. Nordea Investment Management AB now owns 1,274,015 shares of the company's stock valued at $160,258,000 after buying an additional 999,315 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of J. M. Smucker by 12,722.3% in the fourth quarter. International Assets Investment Management LLC now owns 334,022 shares of the company's stock valued at $42,214,000 after buying an additional 331,417 shares during the period. Hedge funds and other institutional investors own 81.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SJM shares. StockNews.com raised J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Monday, April 8th. Stifel Nicolaus raised J. M. Smucker from a "hold" rating to a "buy" rating and set a $135.00 price target for the company in a report on Wednesday, February 28th. JPMorgan Chase & Co. raised their price target on J. M. Smucker from $126.00 to $128.00 and gave the company a "neutral" rating in a report on Wednesday, February 28th. DA Davidson began coverage on J. M. Smucker in a research note on Friday, March 1st. They issued a "neutral" rating and a $132.00 target price for the company. Finally, Citigroup lowered their target price on J. M. Smucker from $153.00 to $152.00 and set a "buy" rating for the company in a research note on Wednesday, February 28th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, J. M. Smucker has an average rating of "Hold" and an average target price of $137.47.

J. M. Smucker Stock Performance

NYSE:SJM traded up $3.66 on Friday, hitting $114.76. The company's stock had a trading volume of 1,396,793 shares, compared to its average volume of 1,107,130. The company has a current ratio of 0.78, a quick ratio of 0.38 and a debt-to-equity ratio of 1.07. The stock has a fifty day moving average of $121.08 and a two-hundred day moving average of $120.65. The firm has a market capitalization of $12.19 billion, a P/E ratio of -130.41, a price-to-earnings-growth ratio of 1.77 and a beta of 0.21. The J. M. Smucker Company has a one year low of $107.33 and a one year high of $159.92.

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

J. M. Smucker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Thursday, May 16th. J. M. Smucker's dividend payout ratio is presently -481.81%.

Insider Activity

In other news, insider Jeannette L. Knudsen sold 3,200 shares of J. M. Smucker stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $124.77, for a total value of $399,264.00. Following the completion of the transaction, the insider now directly owns 8,946 shares of the company's stock, valued at approximately $1,116,192.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.50% of the stock is owned by corporate insiders.

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.