Zurcher Kantonalbank Zurich Cantonalbank Trims Holdings in The J. M. Smucker Company (NYSE:SJM)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 20.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,389 shares of the company’s stock after selling 10,640 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in J. M. Smucker were worth $4,448,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. increased its position in shares of J. M. Smucker by 3.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 324,381 shares of the company’s stock valued at $35,721,000 after buying an additional 11,339 shares during the period. Raymond James Trust N.A. grew its stake in J. M. Smucker by 6.8% during the third quarter. Raymond James Trust N.A. now owns 4,846 shares of the company’s stock valued at $587,000 after acquiring an additional 310 shares in the last quarter. Nordea Investment Management AB increased its holdings in J. M. Smucker by 16.5% during the 4th quarter. Nordea Investment Management AB now owns 1,361,902 shares of the company’s stock worth $150,082,000 after acquiring an additional 192,748 shares during the period. Miracle Mile Advisors LLC purchased a new stake in J. M. Smucker in the 4th quarter worth approximately $1,273,000. Finally, Signal Advisors Wealth LLC boosted its holdings in J. M. Smucker by 336.3% in the 4th quarter. Signal Advisors Wealth LLC now owns 12,950 shares of the company’s stock valued at $1,426,000 after purchasing an additional 9,982 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SJM. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Company upped their target price on J. M. Smucker from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Stifel Nicolaus dropped their price target on J. M. Smucker from $125.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, January 24th. DA Davidson decreased their price objective on shares of J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, TD Cowen downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and lowered their target price 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 issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, J. M. Smucker currently has an average rating of “Hold” and an average price target of $126.00.

J. M. Smucker Stock Down 0.1 %

Shares of NYSE SJM opened at $111.62 on Friday. The J. M. Smucker Company has a one year low of $98.77 and a one year high of $127.59. The stock has a market capitalization of $11.88 billion, a P/E ratio of 22.59, a PEG ratio of 3.91 and a beta of 0.28. The firm’s 50 day simple moving average is $106.53 and its two-hundred day simple moving average is $112.65. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27.

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

J. M. Smucker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.87%. The ex-dividend date was Friday, February 14th. J. M. Smucker’s dividend payout ratio is -179.25%.

Insider Buying and Selling

In other J. M. Smucker news, CFO Tucker H. Marshall sold 994 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $113.00, for a total value of $112,322.00. Following the sale, the chief financial officer now owns 18,734 shares of the company’s stock, valued at $2,116,942. This trade represents a 5.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.40% of the stock is owned by insiders.

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.