Pictet Asset Management SA Cuts Holdings in The J. M. Smucker Company (NYSE:SJM)

Pictet Asset Management SA reduced its position in The J. M. Smucker Company (NYSE:SJMGet Rating) by 13.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,793 shares of the company’s stock after selling 7,052 shares during the period. Pictet Asset Management SA’s holdings in J. M. Smucker were worth $5,990,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its position in J. M. Smucker by 5.4% in the first quarter. Daiwa Securities Group Inc. now owns 6,798 shares of the company’s stock worth $921,000 after purchasing an additional 348 shares during the last quarter. Signaturefd LLC grew its stake in shares of J. M. Smucker by 13.3% in the 1st quarter. Signaturefd LLC now owns 2,990 shares of the company’s stock worth $405,000 after buying an additional 351 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of J. M. Smucker by 1.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 14,541 shares of the company’s stock worth $1,969,000 after buying an additional 147 shares during the last quarter. National Asset Management Inc. grew its position in J. M. Smucker by 24.4% in the first quarter. National Asset Management Inc. now owns 2,915 shares of the company’s stock worth $395,000 after acquiring an additional 571 shares in the last quarter. Finally, FinTrust Capital Advisors LLC increased its stake in J. M. Smucker by 33.7% during the first quarter. FinTrust Capital Advisors LLC now owns 2,406 shares of the company’s stock worth $325,000 after acquiring an additional 607 shares during the last quarter. 79.56% of the stock is owned by institutional investors.

J. M. Smucker Stock Performance

SJM stock opened at $146.14 on Friday. The firm has a 50-day simple moving average of $142.88 and a two-hundred day simple moving average of $136.35. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.45 and a current ratio of 1.05. The J. M. Smucker Company has a one year low of $119.82 and a one year high of $152.16. The firm has a market cap of $15.57 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 6.10 and a beta of 0.25.

J. M. Smucker (NYSE:SJMGet Rating) last issued its quarterly earnings results on Tuesday, August 23rd. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.42. J. M. Smucker had a return on equity of 11.38% and a net margin of 7.33%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm posted $1.90 earnings per share. On average, equities analysts forecast that The J. M. Smucker Company will post 8.55 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be paid a dividend of $1.02 per share. The ex-dividend date is Wednesday, November 9th. This represents a $4.08 dividend on an annualized basis and a yield of 2.79%. J. M. Smucker’s payout ratio is 75.00%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SJM. UBS Group boosted their target price on J. M. Smucker from $122.00 to $127.00 and gave the company a “sell” rating in a research report on Wednesday, August 24th. Morgan Stanley upped their price objective on J. M. Smucker from $117.00 to $132.00 and gave the company an “underweight” rating in a research report on Wednesday, August 24th. StockNews.com began coverage on J. M. Smucker in a research report on Wednesday, October 12th. They set a “hold” rating for the company. BNP Paribas initiated coverage on shares of J. M. Smucker in a report on Tuesday, November 15th. They issued an “underperform” rating and a $138.00 price target on the stock. Finally, Credit Suisse Group lifted their price objective on shares of J. M. Smucker from $140.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, August 24th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $139.55.

Insiders Place Their Bets

In other news, insider Amy C. Held sold 8,701 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $143.39, for a total value of $1,247,636.39. Following the completion of the transaction, the insider now directly owns 3,916 shares in the company, valued at $561,515.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other J. M. Smucker news, CFO Tucker H. Marshall sold 19,775 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $143.25, for a total transaction of $2,832,768.75. Following the sale, the chief financial officer now directly owns 7,668 shares of the company’s stock, valued at approximately $1,098,441. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Amy C. Held sold 8,701 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $143.39, for a total value of $1,247,636.39. Following the completion of the transaction, the insider now directly owns 3,916 shares of the company’s stock, valued at approximately $561,515.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,019 shares of company stock valued at $8,995,996. 3.90% of the stock is owned by company insiders.

About J. M. Smucker

(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.

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

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