AMF Tjanstepension AB Makes New Investment in The J. M. Smucker Company (NYSE:SJM)

AMF Tjanstepension AB acquired a new stake in The J. M. Smucker Company (NYSE:SJM) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 190,429 shares of the company’s stock, valued at approximately $23,990,000.

A number of other hedge funds also recently made changes to their positions in SJM. Wolverine Asset Management LLC raised its stake in J. M. Smucker by 300.0% in the 4th quarter. Wolverine Asset Management LLC now owns 200 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the period. Advantage Trust Co bought a new position in shares of J. M. Smucker in the fourth quarter valued at about $25,000. Cooksen Wealth LLC acquired a new stake in shares of J. M. Smucker during the 4th quarter worth about $33,000. Valley National Advisers Inc. boosted its holdings in shares of J. M. Smucker by 2,266.7% during the 4th quarter. Valley National Advisers Inc. now owns 284 shares of the company’s stock worth $35,000 after buying an additional 272 shares during the period. Finally, Principal Securities Inc. acquired a new position in J. M. Smucker in the 4th quarter valued at about $43,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SJM shares. StockNews.com downgraded shares of J. M. Smucker from a “hold” rating to a “sell” rating in a research report on Monday. Citigroup boosted their price target on J. M. Smucker from $137.00 to $139.00 and gave the company a “buy” rating in a research note on Friday, June 7th. DA Davidson lowered their price objective on J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating on the stock in a research report on Monday, June 10th. Argus reduced their target price on shares of J. M. Smucker from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, June 13th. Finally, Barclays lowered their price target on shares of J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, J. M. Smucker currently has a consensus rating of “Hold” and an average price target of $132.64.

J. M. Smucker Price Performance

NYSE:SJM traded up $0.39 during mid-day trading on Friday, reaching $109.04. The stock had a trading volume of 1,400,627 shares, compared to its average volume of 1,279,116. The stock has a 50-day simple moving average of $112.45 and a two-hundred day simple moving average of $120.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.52 and a quick ratio of 0.25. The J. M. Smucker Company has a 12 month low of $105.69 and a 12 month high of $153.94. The stock has a market capitalization of $11.58 billion, a PE ratio of 15.31, a P/E/G ratio of 2.15 and a beta of 0.23.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Thursday, June 6th. The company reported $2.66 earnings per share 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 the consensus estimate of $2.24 billion. During the same period in the prior year, the company earned $2.64 EPS. J. M. Smucker’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts anticipate that The J. M. Smucker Company will post 10.06 earnings per share for the current year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend was Thursday, May 16th. J. M. Smucker’s dividend payout ratio is 59.55%.

Insider Buying and Selling at J. M. Smucker

In other news, CEO Mark T. Smucker sold 10,000 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the completion of the transaction, the chief executive officer now directly owns 78,757 shares in the company, valued at $8,675,871.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.50% of the company’s stock.

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.