Te Ahumairangi Investment Management Ltd Lowers Position in The J. M. Smucker Company (NYSE:SJM)

Te Ahumairangi Investment Management Ltd lessened its stake in The J. M. Smucker Company (NYSE:SJM) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,639 shares of the company’s stock after selling 2,282 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in J. M. Smucker were worth $4,585,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SJM. Salem Investment Counselors Inc. boosted its holdings in J. M. Smucker by 17.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 660 shares of the company’s stock worth $73,000 after buying an additional 100 shares during the period. Trust Co. of Vermont boosted its holdings in shares of J. M. Smucker by 4.1% in the fourth quarter. Trust Co. of Vermont now owns 2,731 shares of the company’s stock worth $301,000 after acquiring an additional 108 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of J. M. Smucker by 6.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,845 shares of the company’s stock valued at $203,000 after purchasing an additional 115 shares in the last quarter. Mendel Money Management raised its stake in shares of J. M. Smucker by 3.1% during the 4th quarter. Mendel Money Management now owns 3,933 shares of the company’s stock valued at $433,000 after purchasing an additional 117 shares during the period. Finally, Code Waechter LLC lifted its holdings in J. M. Smucker by 2.5% during the 4th quarter. Code Waechter LLC now owns 5,023 shares of the company’s stock worth $553,000 after purchasing an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Down 0.0 %

SJM opened at $118.41 on Wednesday. The business’s fifty day simple moving average is $108.84 and its 200 day simple moving average is $112.15. The J. M. Smucker Company has a 52 week low of $98.77 and a 52 week high of $125.42. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The stock has a market cap of $12.60 billion, a PE ratio of 23.97, a P/E/G ratio of 3.91 and a beta of 0.28.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Thursday, February 27th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $2.37 by $0.24. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.23 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. As a group, research analysts expect that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $1.08 dividend. The ex-dividend date was Friday, February 14th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.65%. J. M. Smucker’s payout ratio is -179.25%.

Insider Activity

In other news, insider Jill R. Penrose sold 5,117 shares of J. M. Smucker stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $116.26, for a total value of $594,902.42. Following the transaction, the insider now owns 8,794 shares in the company, valued at approximately $1,022,390.44. The trade was a 36.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tucker H. Marshall sold 5,028 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $113.36, for a total value of $569,974.08. Following the sale, the chief financial officer now owns 13,263 shares of the company’s stock, valued at $1,503,493.68. This represents a 27.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SJM has been the subject of a number of recent analyst reports. DA Davidson reduced their target price on J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Friday, March 28th. Barclays cut their price target on shares of J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Stifel Nicolaus decreased 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 report on Friday, January 24th. Finally, TD Cowen lowered J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price objective for the company from $130.00 to $121.00 in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $125.67.

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.