The J. M. Smucker Company (NYSE:SJM) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 65.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,543 shares of the company's stock after selling 53,589 shares during the period. Truist Financial Corp's holdings in J. M. Smucker were worth $3,607,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D boosted its stake in J. M. Smucker by 12.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 57,541 shares of the company's stock worth $7,272,000 after buying an additional 6,178 shares during the last quarter. Syon Capital LLC purchased a new position in shares of J. M. Smucker in the 4th quarter worth about $319,000. Cognios Beta Neutral Large Cap Fund LP purchased a new position in shares of J. M. Smucker in the 4th quarter worth about $426,000. Alaska Permanent Fund Corp raised its holdings in shares of J. M. Smucker by 2.7% in the 4th quarter. Alaska Permanent Fund Corp now owns 18,393 shares of the company's stock worth $2,325,000 after purchasing an additional 477 shares during the period. Finally, Schnieders Capital Management LLC purchased a new position in shares of J. M. Smucker in the 4th quarter worth about $420,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jeannette L. Knudsen sold 3,200 shares of the company's stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $124.77, for a total value of $399,264.00. Following the transaction, the insider now owns 8,946 shares of the company's stock, valued at $1,116,192.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.50% of the company's stock.

Analyst Ratings Changes

SJM has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on J. M. Smucker from $126.00 to $128.00 and gave the company a "neutral" rating in a report on Wednesday, February 28th. Stifel Nicolaus upgraded J. M. Smucker from a "hold" rating to a "buy" rating and set a $135.00 target price on the stock in a report on Wednesday, February 28th. TD Cowen dropped their target price on J. M. Smucker from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, April 10th. Citigroup dropped their price objective on J. M. Smucker from $153.00 to $152.00 and set a "buy" rating on the stock in a report on Wednesday, February 28th. Finally, Barclays lifted their price objective on J. M. Smucker from $129.00 to $132.00 and gave the stock an "equal weight" rating in a report on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, J. M. Smucker has a consensus rating of "Hold" and an average price target of $137.47.

J. M. Smucker Trading Up 0.2 %

Shares of NYSE:SJM traded up $0.17 during midday trading on Tuesday, hitting $112.94. The company had a trading volume of 796,128 shares, compared to its average volume of 1,266,187. The firm has a fifty day simple moving average of $118.71 and a 200 day simple moving average of $120.70. 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 market cap of $11.99 billion, a price-to-earnings ratio of -128.12, a PEG ratio of 1.70 and a beta of 0.23. The J. M. Smucker Company has a 12 month low of $107.33 and a 12 month high of $159.45.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.21. The firm 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 company's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 earnings per share. On average, analysts predict that The J. M. Smucker Company will post 9.6 EPS for the current year.

J. M. Smucker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, May 16th. J. M. Smucker's dividend payout ratio (DPR) is presently -481.81%.

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.