The J. M. Smucker Company (NYSE:SJM) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lowered its position in The J. M. Smucker Company (NYSE:SJM) by 20.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,886 shares of the company’s stock after selling 1,816 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in J. M. Smucker were worth $867,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in J. M. Smucker by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock valued at $1,702,515,000 after buying an additional 518,433 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in J. M. Smucker by 13.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,688,930 shares of the company’s stock valued at $213,441,000 after purchasing an additional 202,092 shares in the last quarter. Nordea Investment Management AB increased its holdings in J. M. Smucker by 363.8% in the 4th quarter. Nordea Investment Management AB now owns 1,274,015 shares of the company’s stock valued at $160,258,000 after purchasing an additional 999,315 shares in the last quarter. Norges Bank acquired a new stake in shares of J. M. Smucker during the fourth quarter valued at about $157,077,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of J. M. Smucker by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 925,082 shares of the company’s stock valued at $116,912,000 after acquiring an additional 63,863 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on SJM shares. StockNews.com downgraded J. M. Smucker from a “hold” rating to a “sell” rating in a research note on Thursday, July 4th. TD Cowen cut their target price 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. Citigroup raised their target price on shares of J. M. Smucker from $137.00 to $139.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Barclays cut their target price on shares of J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Finally, DA Davidson cut their target price on shares of J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating on the stock in a report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $132.64.

Insiders Place Their Bets

In other J. M. Smucker news, CEO Mark T. Smucker sold 10,000 shares of J. M. Smucker stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the transaction, the chief executive officer now directly owns 78,757 shares in the company, valued at approximately $8,675,871.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.50% of the company’s stock.

J. M. Smucker Price Performance

Shares of NYSE SJM traded up $0.20 during mid-day trading on Wednesday, reaching $109.57. 146,756 shares of the company traded hands, compared to its average volume of 1,262,985. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $153.94. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.52 and a quick ratio of 0.25. The firm has a market cap of $11.64 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 2.20 and a beta of 0.25. The stock has a fifty day simple moving average of $111.58 and a 200-day simple moving average of $119.55.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Thursday, June 6th. The company reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.34. The firm 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 firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.64 earnings per share. Equities research analysts anticipate that The J. M. Smucker Company will post 10.06 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend was Thursday, May 16th. J. M. Smucker’s payout ratio is 59.55%.

J. M. Smucker Company 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.