Mackenzie Financial Corp Increases Stake in The J. M. Smucker Company (NYSE:SJM)

Mackenzie Financial Corp grew its position in The J. M. Smucker Company (NYSE:SJM) by 14.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,111 shares of the company’s stock after acquiring an additional 11,618 shares during the period. Mackenzie Financial Corp’s holdings in J. M. Smucker were worth $11,767,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Kinneret Advisory LLC lifted its position in J. M. Smucker by 2.3% in the first quarter. Kinneret Advisory LLC now owns 3,302 shares of the company’s stock valued at $447,000 after purchasing an additional 74 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in shares of J. M. Smucker by 3.7% in the 1st quarter. Moneta Group Investment Advisors LLC now owns 2,382 shares of the company’s stock valued at $375,000 after buying an additional 86 shares during the period. Williams Jones Wealth Management LLC. boosted its stake in shares of J. M. Smucker by 1.0% in the first quarter. Williams Jones Wealth Management LLC. now owns 8,327 shares of the company’s stock valued at $1,310,000 after buying an additional 86 shares in the last quarter. Shell Asset Management Co. grew its holdings in J. M. Smucker by 4.4% during the third quarter. Shell Asset Management Co. now owns 2,183 shares of the company’s stock worth $268,000 after acquiring an additional 93 shares during the period. Finally, Gallagher Fiduciary Advisors LLC grew its holdings in J. M. Smucker by 2.0% during the third quarter. Gallagher Fiduciary Advisors LLC now owns 4,837 shares of the company’s stock worth $595,000 after acquiring an additional 97 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on SJM. JPMorgan Chase & Co. boosted their target price on shares of J. M. Smucker from $126.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Citigroup decreased their price objective on shares of J. M. Smucker from $153.00 to $152.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, April 8th. Barclays boosted their price target on J. M. Smucker from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Finally, 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. 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 data from MarketBeat, J. M. Smucker presently has an average rating of “Hold” and a consensus target price of $137.47.

Insider Buying and Selling at J. M. Smucker

In other news, insider Jeannette L. Knudsen sold 3,200 shares of the firm’s 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 sale, the insider now owns 8,946 shares in the company, valued at $1,116,192.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.50% of the stock is currently owned by insiders.

J. M. Smucker Stock Up 3.3 %

Shares of NYSE:SJM opened at $114.76 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.78 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $12.19 billion, a P/E ratio of -130.41, a P/E/G ratio of 1.77 and a beta of 0.21. The J. M. Smucker Company has a 52-week low of $107.33 and a 52-week high of $159.92. The stock’s fifty day simple moving average is $121.08 and its 200-day simple moving average is $120.65.

J. M. Smucker (NYSE:SJM) last released its earnings results on Tuesday, February 27th. The company reported $2.48 earnings per share (EPS) for the quarter, beating 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 negative net margin of 1.24% and a positive return on equity of 14.29%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 EPS. As a group, equities research analysts forecast that The J. M. Smucker Company will post 9.6 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

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

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.