New York State Common Retirement Fund Has $7.93 Million Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

New York State Common Retirement Fund increased its position in shares of The J. M. Smucker Company (NYSE:SJM) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,975 shares of the company’s stock after acquiring an additional 2,000 shares during the period. New York State Common Retirement Fund owned about 0.06% of J. M. Smucker worth $7,931,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in J. M. Smucker by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 13,344,933 shares of the company’s stock valued at $1,469,544,000 after buying an additional 130,533 shares in the last quarter. FMR LLC boosted its position in J. M. Smucker by 11.3% in the fourth quarter. FMR LLC now owns 3,734,305 shares of the company’s stock valued at $411,222,000 after buying an additional 380,309 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of J. M. Smucker by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 2,609,952 shares of the company’s stock worth $286,664,000 after purchasing an additional 58,231 shares during the period. Invesco Ltd. lifted its holdings in shares of J. M. Smucker by 21.0% during the fourth quarter. Invesco Ltd. now owns 2,415,023 shares of the company’s stock worth $265,942,000 after purchasing an additional 418,878 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of J. M. Smucker by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,009,017 shares of the company’s stock worth $221,232,000 after purchasing an additional 33,758 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Activity at J. M. Smucker

In other news, Director Tarang Amin purchased 1,050 shares of the company’s stock in a transaction on Thursday, June 12th. The stock was acquired at an average price of $96.09 per share, with a total value of $100,894.50. Following the transaction, the director directly owned 3,825 shares of the company’s stock, valued at approximately $367,544.25. This represents a 37.84% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SJM has been the subject of a number of analyst reports. Wall Street Zen raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Friday, March 28th. Royal Bank Of Canada initiated coverage on shares of J. M. Smucker in a research note on Monday, July 7th. They set an “outperform” rating and a $130.00 target price for the company. Wells Fargo & Company lowered their target price on shares of J. M. Smucker from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, June 11th. Barclays lowered their target price on shares of J. M. Smucker from $119.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 11th. Finally, UBS Group lowered their target price on shares of J. M. Smucker from $134.00 to $129.00 and set a “buy” rating for the company in a research note on Friday, June 6th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.33.

J. M. Smucker Stock Performance

Shares of SJM stock opened at $106.06 on Friday. The stock has a market capitalization of $11.30 billion, a P/E ratio of -9.17, a PEG ratio of 8.00 and a beta of 0.31. The company has a current ratio of 0.81, a quick ratio of 0.35 and a debt-to-equity ratio of 1.16. The firm’s 50 day moving average is $105.38 and its 200 day moving average is $108.50. The J. M. Smucker Company has a 12 month low of $93.30 and a 12 month high of $125.42.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.06. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.18 billion. J. M. Smucker had a negative net margin of 14.10% and a positive return on equity of 15.20%. J. M. Smucker’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.66 EPS. On average, sell-side analysts anticipate that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be issued a $1.10 dividend. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.15%. J. M. Smucker’s dividend payout ratio is presently -38.06%.

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.