The J. M. Smucker Company $SJM Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in shares of The J. M. Smucker Company (NYSE:SJM) by 71.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 266,543 shares of the company’s stock after selling 652,596 shares during the period. Assenagon Asset Management S.A. owned approximately 0.25% of J. M. Smucker worth $26,071,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Two Sigma Investments LP increased its position in J. M. Smucker by 6,854.4% during the 3rd quarter. Two Sigma Investments LP now owns 1,527,962 shares of the company’s stock worth $165,937,000 after purchasing an additional 1,505,991 shares during the period. National Bank of Canada FI grew its holdings in J. M. Smucker by 797.4% during the third quarter. National Bank of Canada FI now owns 1,401,173 shares of the company’s stock worth $152,167,000 after acquiring an additional 1,245,035 shares during the period. Norges Bank purchased a new position in J. M. Smucker in the second quarter worth $112,829,000. Engineers Gate Manager LP acquired a new stake in J. M. Smucker in the second quarter valued at $109,896,000. Finally, Capitolis Liquid Global Markets LLC acquired a new stake in J. M. Smucker in the third quarter valued at $112,944,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Trading Down 1.4%

Shares of SJM stock opened at $95.48 on Thursday. The stock has a market cap of $10.18 billion, a P/E ratio of -8.10, a P/E/G ratio of 4.04 and a beta of 0.22. The company has a quick ratio of 0.35, a current ratio of 0.84 and a debt-to-equity ratio of 1.31. The J. M. Smucker Company has a fifty-two week low of $93.30 and a fifty-two week high of $120.76. The business has a fifty day simple moving average of $106.62 and a 200-day simple moving average of $104.70.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Thursday, February 26th. The company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.27 by $0.11. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.32 billion. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.61 EPS. On average, analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, February 13th. J. M. Smucker’s dividend payout ratio (DPR) is -37.32%.

Wall Street Analyst Weigh In

SJM has been the topic of several research analyst reports. Stifel Nicolaus lowered their price target on shares of J. M. Smucker from $115.00 to $110.00 and set a “hold” rating on the stock in a research note on Wednesday, November 26th. Wells Fargo & Company raised their price objective on shares of J. M. Smucker from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. TD Cowen decreased their price objective on shares of J. M. Smucker from $124.00 to $113.00 and set a “hold” rating on the stock in a report on Thursday, March 19th. Weiss Ratings restated a “sell (d)” rating on shares of J. M. Smucker in a research report on Wednesday, January 21st. Finally, Sanford C. Bernstein raised shares of J. M. Smucker from a “market perform” rating to an “outperform” rating and increased their target price for the company from $121.00 to $145.00 in a report on Wednesday, March 11th. Nine equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, J. M. Smucker currently has an average rating of “Hold” and an average price target of $121.21.

About J. M. Smucker

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company’s main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker’s core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker’s® fruit spreads, Jif® peanut butter, Folgers® and Dunkin’® coffees, and Café Bustelo® coffee.