SageView Advisory Group LLC Takes $279,000 Position in The J. M. Smucker Company (NYSE:SJM)

SageView Advisory Group LLC acquired a new position in shares of The J. M. Smucker Company (NYSE:SJM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,097 shares of the company’s stock, valued at approximately $279,000.

Other hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC raised its position in J. M. Smucker by 298.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 20,270 shares of the company’s stock valued at $2,562,000 after purchasing an additional 15,182 shares in the last quarter. Citigroup Inc. lifted its stake in J. M. Smucker by 15.1% in the third quarter. Citigroup Inc. now owns 277,459 shares of the company’s stock worth $34,103,000 after acquiring an additional 36,296 shares during the last quarter. California State Teachers Retirement System grew its holdings in J. M. Smucker by 5.5% during the 4th quarter. California State Teachers Retirement System now owns 170,552 shares of the company’s stock worth $21,554,000 after acquiring an additional 8,960 shares in the last quarter. Ardevora Asset Management LLP purchased a new stake in shares of J. M. Smucker in the 4th quarter valued at approximately $11,147,000. Finally, Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in shares of J. M. Smucker during the 4th quarter worth $14,198,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. TD Cowen cut their price target on J. M. Smucker from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Barclays decreased their target price on J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. DA Davidson dropped their price target on shares of J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating on the stock in a research note on Monday, June 10th. Citigroup boosted their price objective on shares of J. M. Smucker from $137.00 to $139.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of J. M. Smucker from $126.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $132.64.

J. M. Smucker Stock Down 2.3 %

SJM opened at $109.71 on Friday. The J. M. Smucker Company has a 52 week low of $106.32 and a 52 week high of $153.94. The business has a 50 day moving average price of $112.68 and a two-hundred day moving average price of $120.70. The company has a quick ratio of 0.25, a current ratio of 0.52 and a debt-to-equity ratio of 0.88. The company has a market cap of $11.65 billion, a PE ratio of 15.41, a P/E/G ratio of 2.25 and a beta of 0.23.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Thursday, June 6th. The company reported $2.66 EPS for the quarter, topping the consensus estimate of $2.32 by $0.34. J. M. Smucker had a return on equity of 14.15% and a net margin of 9.10%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the business earned $2.64 earnings per share. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, research analysts anticipate that The J. M. Smucker Company will post 10.06 EPS for the current year.

J. M. Smucker Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were issued a dividend of $1.06 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $4.24 annualized dividend and a yield of 3.86%. J. M. Smucker’s dividend payout ratio is currently 59.55%.

Insider Activity at J. M. Smucker

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

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.