Mn Services Vermogensbeheer B.V. Trims Holdings in The J. M. Smucker Company (NYSE:SJM)

Mn Services Vermogensbeheer B.V. reduced its position in shares of The J. M. Smucker Company (NYSE:SJM) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,884 shares of the company’s stock after selling 1,100 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in J. M. Smucker were worth $4,567,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Boston Partners purchased a new stake in J. M. Smucker in the 1st quarter worth approximately $364,990,000. Norges Bank acquired a new stake in shares of J. M. Smucker during the fourth quarter worth $157,077,000. Point72 Asset Management L.P. grew its position in shares of J. M. Smucker by 21,858.1% in the fourth quarter. Point72 Asset Management L.P. now owns 680,700 shares of the company’s stock valued at $86,027,000 after purchasing an additional 677,600 shares during the period. Vanguard Group Inc. increased its stake in J. M. Smucker by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock valued at $1,702,515,000 after purchasing an additional 518,433 shares during the last quarter. Finally, Ilex Capital Partners UK LLP purchased a new position in J. M. Smucker during the first quarter worth about $48,207,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Mark T. Smucker sold 10,000 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $110.16, for a total value of $1,101,600.00. Following the transaction, the chief executive officer now owns 78,757 shares in the company, valued at $8,675,871.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on SJM shares. Barclays lowered their price target on J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Argus dropped their price target 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. TD Cowen decreased their price target on shares of J. M. Smucker from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, June 7th. DA Davidson dropped their price objective on J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating for the company in a report on Monday, June 10th. Finally, StockNews.com cut J. M. Smucker from a “hold” rating to a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $132.57.

J. M. Smucker Stock Up 0.8 %

Shares of SJM stock traded up $0.99 during trading hours on Friday, reaching $122.04. The company had a trading volume of 579,966 shares, compared to its average volume of 1,080,602. The stock’s fifty day simple moving average is $115.44 and its 200 day simple moving average is $117.05. The company has a market capitalization of $12.96 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 2.42 and a beta of 0.25. 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 J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $147.48.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Thursday, June 6th. The company reported $2.66 earnings per share (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 analyst estimates of $2.24 billion. J. M. Smucker had a net margin of 9.10% and a return on equity of 14.15%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.64 earnings per share. As a group, sell-side analysts expect that The J. M. Smucker Company will post 10.05 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be given a $1.08 dividend. 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 yield of 3.54%. The ex-dividend date is Friday, August 16th. J. M. Smucker’s dividend payout ratio is presently 60.67%.

About J. M. Smucker

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.