Assenagon Asset Management S.A. Purchases 157,523 Shares of The J. M. Smucker Company (NYSE:SJM)

Assenagon Asset Management S.A. grew its position in shares of The J. M. Smucker Company (NYSE:SJM) by 6,703.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,873 shares of the company’s stock after acquiring an additional 157,523 shares during the quarter. Assenagon Asset Management S.A. owned about 0.15% of J. M. Smucker worth $17,433,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SJM. Wolverine Asset Management LLC increased its holdings in shares of J. M. Smucker by 300.0% during the fourth quarter. Wolverine Asset Management LLC now owns 200 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares in the last quarter. Advantage Trust Co purchased a new position in shares of J. M. Smucker during the fourth quarter valued at approximately $25,000. Cooksen Wealth LLC purchased a new position in shares of J. M. Smucker during the fourth quarter valued at approximately $33,000. Venturi Wealth Management LLC purchased a new position in shares of J. M. Smucker during the first quarter valued at approximately $35,000. Finally, Principal Securities Inc. purchased a new position in shares of J. M. Smucker during the fourth quarter valued at approximately $43,000. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

SJM traded up $0.40 during midday trading on Friday, reaching $118.81. The company had a trading volume of 927,680 shares, compared to its average volume of 1,237,490. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.25 and a current ratio of 0.52. The stock has a market cap of $12.62 billion, a PE ratio of 16.69, a P/E/G ratio of 2.39 and a beta of 0.25. The J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $147.48. The business has a 50-day moving average price of $114.42 and a two-hundred day moving average price of $117.62.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Thursday, June 6th. The company reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.34. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.24 billion. J. M. Smucker had a net margin of 9.10% and a return on equity of 14.15%. J. M. Smucker’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.64 EPS. On average, sell-side analysts expect that The J. M. Smucker Company will post 10.06 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be paid a dividend of $1.08 per share. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Friday, August 16th. J. M. Smucker’s dividend payout ratio is presently 59.55%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Barclays cut their target price on 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. TD Cowen cut their target price on J. M. Smucker from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Argus cut their target price on J. M. Smucker from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, June 13th. StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Citigroup boosted their price objective on J. M. Smucker from $137.00 to $139.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, J. M. Smucker presently has a consensus rating of “Hold” and a consensus price target of $132.64.

Insider Activity at J. M. Smucker

In related news, CEO Mark T. Smucker sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 78,757 shares in the company, valued at approximately $8,675,871.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.40% of the stock is currently owned by corporate 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.