The J. M. Smucker Company (NYSE:SJM) Stock Position Lifted by DnB Asset Management AS

DnB Asset Management AS increased its position in The J. M. Smucker Company (NYSE:SJMGet Rating) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,545 shares of the company’s stock after buying an additional 421 shares during the quarter. DnB Asset Management AS’s holdings in J. M. Smucker were worth $3,782,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of J. M. Smucker by 1.3% in the first quarter. Vanguard Group Inc. now owns 12,721,847 shares of the company’s stock valued at $1,722,666,000 after buying an additional 162,944 shares during the period. State Street Corp lifted its holdings in shares of J. M. Smucker by 7.5% in the fourth quarter. State Street Corp now owns 8,032,129 shares of the company’s stock valued at $1,090,924,000 after buying an additional 561,132 shares during the period. Stifel Financial Corp lifted its holdings in shares of J. M. Smucker by 4.5% during the fourth quarter. Stifel Financial Corp now owns 2,506,127 shares of the company’s stock valued at $340,383,000 after purchasing an additional 107,678 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of J. M. Smucker by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 2,120,286 shares of the company’s stock valued at $287,268,000 after purchasing an additional 123,104 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of J. M. Smucker by 8.3% during the first quarter. Invesco Ltd. now owns 1,820,578 shares of the company’s stock valued at $246,525,000 after purchasing an additional 139,158 shares during the last quarter. Institutional investors and hedge funds own 79.56% of the company’s stock.

J. M. Smucker Stock Performance

Shares of SJM stock opened at $139.96 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 0.45. The J. M. Smucker Company has a fifty-two week low of $119.09 and a fifty-two week high of $146.74. The stock’s 50-day moving average is $136.28 and its two-hundred day moving average is $133.92. The firm has a market cap of $14.91 billion, a P/E ratio of 25.73, a PEG ratio of 5.87 and a beta of 0.22.

J. M. Smucker (NYSE:SJMGet Rating) last issued its earnings results on Tuesday, August 23rd. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.27. J. M. Smucker had a return on equity of 11.38% and a net margin of 7.33%. During the same period last year, the company posted $1.90 EPS. Analysts predict that The J. M. Smucker Company will post 8.54 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were paid a dividend of $1.02 per share. This is an increase from J. M. Smucker’s previous quarterly dividend of $0.99. The ex-dividend date was Thursday, August 11th. This represents a $4.08 annualized dividend and a yield of 2.92%. J. M. Smucker’s dividend payout ratio is presently 75.00%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SJM shares. UBS Group upped their target price on J. M. Smucker from $122.00 to $127.00 and gave the company a “sell” rating in a report on Wednesday, August 24th. Stifel Nicolaus upped their target price on J. M. Smucker from $140.00 to $148.00 in a report on Wednesday, August 24th. Bank of America raised J. M. Smucker from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $155.00 in a report on Wednesday, August 17th. Consumer Edge downgraded J. M. Smucker from an “equal weight” rating to an “underweight” rating in a research note on Thursday, June 16th. Finally, Credit Suisse Group increased their price objective on J. M. Smucker from $140.00 to $145.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 24th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $138.82.

Insiders Place Their Bets

In other J. M. Smucker news, insider Jill R. Penrose sold 4,543 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $140.83, for a total value of $639,790.69. Following the completion of the sale, the insider now owns 9,106 shares in the company, valued at approximately $1,282,397.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other J. M. Smucker news, insider Jill R. Penrose sold 4,543 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $140.83, for a total value of $639,790.69. Following the completion of the sale, the insider now owns 9,106 shares in the company, valued at approximately $1,282,397.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard K. Smucker sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $142.28, for a total value of $2,845,600.00. Following the completion of the sale, the director now owns 631,010 shares of the company’s stock, valued at approximately $89,780,102.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,019 shares of company stock worth $8,995,996. 3.70% of the stock is currently owned by company insiders.

J. M. Smucker Profile

(Get Rating)

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, shortening and oils, and 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.

See Also

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Institutional Ownership by Quarter for J. M. Smucker (NYSE:SJM)

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