Norges Bank Makes New $92.96 Million Investment in The J. M. Smucker Company $SJM

Norges Bank acquired a new stake in The J. M. Smucker Company (NYSE:SJM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 950,416 shares of the company’s stock, valued at approximately $92,960,000. Norges Bank owned approximately 0.89% of J. M. Smucker at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Eurizon Capital SGR S.p.A. bought a new position in J. M. Smucker in the 4th quarter valued at about $1,273,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of J. M. Smucker in the fourth quarter worth approximately $32,000. National Pension Service lifted its holdings in shares of J. M. Smucker by 148.3% in the fourth quarter. National Pension Service now owns 17,397 shares of the company’s stock valued at $1,702,000 after purchasing an additional 10,390 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new position in shares of J. M. Smucker in the fourth quarter valued at approximately $794,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of J. M. Smucker by 1.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,603 shares of the company’s stock valued at $744,000 after buying an additional 142 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

J. M. Smucker Stock Up 2.5%

Shares of NYSE:SJM opened at $103.62 on Friday. The company has a market capitalization of $11.05 billion, a PE ratio of -8.79, a price-to-earnings-growth ratio of 6.83 and a beta of 0.27. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.84 and a quick ratio of 0.35. The business has a fifty day moving average price of $97.90 and a two-hundred day moving average price of $101.75. The J. M. Smucker Company has a 1 year low of $88.25 and a 1 year high of $119.39.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a $1.10 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.40 annualized dividend and a yield of 4.2%. J. M. Smucker’s payout ratio is currently -37.32%.

Analyst Ratings Changes

SJM has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price target on J. M. Smucker from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Wall Street Zen downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. TD Cowen lowered their target price on shares of J. M. Smucker from $124.00 to $113.00 and set a “hold” rating for the company in a report on Thursday, March 19th. Barclays dropped their price target on shares of J. M. Smucker from $125.00 to $103.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 14th. Finally, Bank of America upgraded shares of J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a report on Monday, February 23rd. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, J. M. Smucker has a consensus rating of “Hold” and an average price target of $116.71.

About J. M. Smucker

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company’s main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker’s core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker’s® fruit spreads, Jif® peanut butter, Folgers® and Dunkin’® coffees, and Café Bustelo® coffee.