Columbia Asset Management Acquires 200 Shares of The J. M. Smucker Company (NYSE:SJM)

Columbia Asset Management grew its holdings in The J. M. Smucker Company (NYSE:SJM) by 9.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,257 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Columbia Asset Management’s holdings in J. M. Smucker were worth $267,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SJM. Norges Bank bought a new position in shares of J. M. Smucker in the 4th quarter valued at about $112,978,000. LSV Asset Management boosted its stake in J. M. Smucker by 3,599.5% during the 4th quarter. LSV Asset Management now owns 929,400 shares of the company’s stock worth $102,346,000 after acquiring an additional 904,278 shares during the last quarter. Two Sigma Advisers LP boosted its stake in J. M. Smucker by 76.7% during the 4th quarter. Two Sigma Advisers LP now owns 1,078,892 shares of the company’s stock worth $118,808,000 after acquiring an additional 468,200 shares during the last quarter. FIL Ltd boosted its stake in J. M. Smucker by 87.8% during the 4th quarter. FIL Ltd now owns 925,000 shares of the company’s stock worth $101,861,000 after acquiring an additional 432,500 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in J. M. Smucker by 21.0% during the 4th quarter. Invesco Ltd. now owns 2,415,023 shares of the company’s stock worth $265,942,000 after acquiring an additional 418,878 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on SJM shares. Citigroup reduced their price objective on shares of J. M. Smucker from $129.00 to $128.00 and set a “buy” rating on the stock in a research note on Monday, May 19th. Barclays reduced their price objective on shares of J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Wall Street Zen raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Friday, March 28th. UBS Group started coverage on shares of J. M. Smucker in a research note on Wednesday, April 23rd. They set a “buy” rating and a $134.00 price objective on the stock. Finally, Jefferies Financial Group reissued a “hold” rating on shares of J. M. Smucker in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, J. M. Smucker presently has an average rating of “Hold” and an average target price of $125.70.

Insider Transactions at J. M. Smucker

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

J. M. Smucker Stock Performance

Shares of SJM stock opened at $112.14 on Thursday. The company’s fifty day simple moving average is $114.19 and its 200-day simple moving average is $111.25. 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 firm has a market cap of $11.93 billion, a PE ratio of 22.70, a P/E/G ratio of 3.91 and a beta of 0.35. The J. M. Smucker Company has a 12 month low of $98.77 and a 12 month high of $125.42.

J. M. Smucker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date was Friday, May 16th. J. M. Smucker’s dividend payout ratio is presently -179.25%.

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.