Truist Financial Corp Reduces Stock Position in The J. M. Smucker Company (NYSE:SJM)

Truist Financial Corp lowered its stake in The J. M. Smucker Company (NYSE:SJM) by 31.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,674 shares of the company’s stock after selling 7,530 shares during the quarter. Truist Financial Corp’s holdings in J. M. Smucker were worth $1,836,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in J. M. Smucker by 3.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 324,381 shares of the company’s stock worth $35,721,000 after purchasing an additional 11,339 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in J. M. Smucker by 6.8% in the third quarter. Raymond James Trust N.A. now owns 4,846 shares of the company’s stock worth $587,000 after purchasing an additional 310 shares during the last quarter. Nordea Investment Management AB boosted its holdings in J. M. Smucker by 16.5% in the fourth quarter. Nordea Investment Management AB now owns 1,361,902 shares of the company’s stock worth $150,082,000 after purchasing an additional 192,748 shares during the last quarter. Miracle Mile Advisors LLC purchased a new position in shares of J. M. Smucker during the 4th quarter worth $1,273,000. Finally, Signal Advisors Wealth LLC boosted its stake in shares of J. M. Smucker by 336.3% during the 4th quarter. Signal Advisors Wealth LLC now owns 12,950 shares of the company’s stock worth $1,426,000 after acquiring an additional 9,982 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD Cowen cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price target for the stock from $130.00 to $121.00 in a research note on Wednesday, January 8th. Barclays dropped their price target on shares of J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 4th. Stifel Nicolaus dropped their price target on shares of J. M. Smucker from $125.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Finally, Wells Fargo & Company lifted their price target on shares of J. M. Smucker from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $126.78.

Insider Buying and Selling at J. M. Smucker

In other news, CFO Tucker H. Marshall sold 994 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $113.00, for a total transaction of $112,322.00. Following the sale, the chief financial officer now directly owns 18,734 shares in the company, valued at approximately $2,116,942. This represents a 5.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.40% of the stock is currently owned by insiders.

J. M. Smucker Stock Down 2.9 %

SJM opened at $109.24 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58. The stock has a market cap of $11.62 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 3.91 and a beta of 0.27. The firm’s fifty day moving average is $106.16 and its 200 day moving average is $113.26. The J. M. Smucker Company has a fifty-two week low of $98.77 and a fifty-two week high of $127.59.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. J. M. Smucker’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.59 EPS. On average, sell-side analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $4.32 dividend on an annualized basis and a yield of 3.95%. J. M. Smucker’s dividend payout ratio is currently 87.45%.

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.