Swedbank AB Increases Holdings in The J. M. Smucker Company $SJM

Swedbank AB increased its stake in The J. M. Smucker Company (NYSE:SJM) by 17.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 180,595 shares of the company’s stock after purchasing an additional 27,272 shares during the quarter. Swedbank AB’s holdings in J. M. Smucker were worth $17,664,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SJM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of J. M. Smucker by 10.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,440 shares of the company’s stock valued at $2,286,000 after purchasing an additional 1,763 shares in the last quarter. United Services Automobile Association purchased a new position in shares of J. M. Smucker in the first quarter valued at $253,000. Empowered Funds LLC grew its position in shares of J. M. Smucker by 28.6% in the first quarter. Empowered Funds LLC now owns 12,992 shares of the company’s stock valued at $1,538,000 after purchasing an additional 2,889 shares in the last quarter. Woodline Partners LP grew its position in shares of J. M. Smucker by 40.7% in the first quarter. Woodline Partners LP now owns 8,990 shares of the company’s stock valued at $1,065,000 after purchasing an additional 2,600 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of J. M. Smucker by 6.7% in the second quarter. American Century Companies Inc. now owns 2,209 shares of the company’s stock valued at $217,000 after purchasing an additional 138 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

J. M. Smucker Price Performance

J. M. Smucker stock opened at $103.46 on Tuesday. The J. M. Smucker Company has a 52 week low of $88.25 and a 52 week high of $119.39. The business has a 50-day simple moving average of $97.60 and a 200 day simple moving average of $102.06. The company has a quick ratio of 0.35, a current ratio of 0.84 and a debt-to-equity ratio of 1.31. The stock has a market cap of $11.03 billion, a price-to-earnings ratio of -8.78, a PEG ratio of 6.98 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Thursday, February 26th. The company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.27 by $0.11. J. M. Smucker had a positive return on equity of 15.94% and a negative net margin of 14.07%.The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the previous year, the business earned $2.61 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. On average, research analysts forecast that The J. M. Smucker Company will post 9.03 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, May 15th. J. M. Smucker’s payout ratio is presently -37.32%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SJM. Evercore began coverage on J. M. Smucker in a research report on Friday, May 15th. They issued an “outperform” rating and a $117.00 price target for the company. Bank of America upgraded J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 price target for the company in a research report on Monday, February 23rd. Wells Fargo & Company reduced 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. Weiss Ratings restated a “sell (d)” rating on shares of J. M. Smucker in a research report on Monday, April 20th. Finally, Sanford C. Bernstein reduced their target price on J. M. Smucker from $145.00 to $134.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $116.35.

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.