Retirement Systems of Alabama Has $2.96 Million Stake in The J. M. Smucker Company (NYSE:SJM)

Retirement Systems of Alabama raised its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,390 shares of the company’s stock after purchasing an additional 302 shares during the period. Retirement Systems of Alabama’s holdings in J. M. Smucker were worth $2,956,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its position in shares of J. M. Smucker by 487.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,459,200 shares of the company’s stock valued at $178,961,000 after acquiring an additional 1,210,837 shares during the period. Nordea Investment Management AB raised its holdings in shares of J. M. Smucker by 363.8% during the fourth quarter. Nordea Investment Management AB now owns 1,274,015 shares of the company’s stock valued at $160,258,000 after purchasing an additional 999,315 shares during the period. International Assets Investment Management LLC boosted its position in shares of J. M. Smucker by 12,722.3% during the 4th quarter. International Assets Investment Management LLC now owns 334,022 shares of the company’s stock worth $42,214,000 after purchasing an additional 331,417 shares in the last quarter. FMR LLC grew its stake in shares of J. M. Smucker by 32.2% in the 3rd quarter. FMR LLC now owns 646,827 shares of the company’s stock valued at $79,501,000 after buying an additional 157,443 shares during the period. Finally, Invesco Ltd. increased its position in J. M. Smucker by 9.3% in the 3rd quarter. Invesco Ltd. now owns 1,777,750 shares of the company’s stock valued at $218,503,000 after buying an additional 151,389 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at J. M. Smucker

In related news, insider Jeannette L. Knudsen sold 3,200 shares of the 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 completion of the transaction, the insider now owns 8,946 shares in the company, valued at $1,116,192.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

J. M. Smucker Stock Up 0.2 %

Shares of SJM stock opened at $112.94 on Wednesday. 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 J. M. Smucker Company has a 52-week low of $107.33 and a 52-week high of $159.45. The company has a 50-day simple moving average of $118.51 and a two-hundred day simple moving average of $120.71.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Tuesday, February 27th. The company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.21. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate 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 was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.21 EPS. As a group, sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Thursday, May 16th. J. M. Smucker’s dividend payout ratio is presently -481.81%.

J. M. Smucker 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.