Federated Hermes Inc. Sells 280 Shares of The J. M. Smucker Company (NYSE:SJM)

Federated Hermes Inc. trimmed its stake in The J. M. Smucker Company (NYSE:SJM) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,731 shares of the company’s stock after selling 280 shares during the period. Federated Hermes Inc.’s holdings in J. M. Smucker were worth $2,114,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SJM. Ameriprise Financial Inc. increased its holdings in shares of J. M. Smucker by 487.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,459,200 shares of the company’s stock worth $178,961,000 after buying an additional 1,210,837 shares during the last quarter. Nordea Investment Management AB grew its position in 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 worth $160,258,000 after acquiring an additional 999,315 shares in the last quarter. International Assets Investment Management LLC increased its stake in 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 acquiring an additional 331,417 shares during the last quarter. FMR LLC raised its position in J. M. Smucker by 32.2% during the third quarter. FMR LLC now owns 646,827 shares of the company’s stock valued at $79,501,000 after purchasing an additional 157,443 shares in the last quarter. Finally, Invesco Ltd. raised its position in J. M. Smucker by 9.3% during the third quarter. Invesco Ltd. now owns 1,777,750 shares of the company’s stock valued at $218,503,000 after purchasing an additional 151,389 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Stock Down 1.4 %

J. M. Smucker stock opened at $113.60 on Monday. 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 J. M. Smucker Company has a 1-year low of $107.33 and a 1-year high of $159.92. The firm has a 50-day moving average of $120.10 and a 200-day moving average of $120.69.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Tuesday, February 27th. The company reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.21. The business had revenue of $2.23 billion during 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%. J. M. Smucker’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.21 EPS. On average, equities analysts expect that The J. M. Smucker Company will post 9.6 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently disclosed 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 3.73%. The ex-dividend date is Thursday, May 16th. J. M. Smucker’s payout ratio is currently -481.81%.

Insiders Place Their Bets

In other news, insider Jeannette L. Knudsen sold 3,200 shares of J. M. Smucker stock in a transaction dated Wednesday, March 27th. The shares were 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 of the company’s stock, valued at approximately $1,116,192.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, April 8th. DA Davidson started coverage on shares of J. M. Smucker in a research note on Friday, March 1st. They set a “neutral” rating and a $132.00 price target on the stock. Citigroup lowered their price objective on shares of J. M. Smucker from $153.00 to $152.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. TD Cowen reduced their target price on shares of J. M. Smucker from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Finally, Stifel Nicolaus raised shares of J. M. Smucker from a “hold” rating to a “buy” rating and set a $135.00 price target 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 issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $137.47.

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.