Korea Investment CORP Sells 2,700 Shares of The J. M. Smucker Company (NYSE:SJM)

Korea Investment CORP decreased its position in The J. M. Smucker Company (NYSE:SJM) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,663 shares of the company’s stock after selling 2,700 shares during the quarter. Korea Investment CORP’s holdings in J. M. Smucker were worth $5,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Capital Advisors Ltd. LLC increased its position in J. M. Smucker by 188.8% in the fourth quarter. Capital Advisors Ltd. LLC now owns 231 shares of the company’s stock worth $25,000 after purchasing an additional 151 shares during the last quarter. Kentucky Trust Co purchased a new position in shares of J. M. Smucker in the 4th quarter worth $28,000. Kieckhefer Group LLC bought a new stake in shares of J. M. Smucker in the 4th quarter worth about $33,000. Hantz Financial Services Inc. purchased a new stake in shares of J. M. Smucker during the 4th quarter valued at about $39,000. Finally, Sandy Spring Bank lifted its holdings in shares of J. M. Smucker by 1,365.5% in the 4th quarter. Sandy Spring Bank now owns 425 shares of the company’s stock valued at $47,000 after acquiring an additional 396 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SJM has been the topic of several analyst reports. DA Davidson reduced their price objective on J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Barclays decreased their price target on J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. TD Cowen lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $130.00 to $121.00 in a research note on Wednesday, January 8th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Morgan Stanley started coverage on shares of J. M. Smucker in a report on Monday, March 24th. They set an “overweight” rating and a $123.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $125.67.

Insider Buying and Selling

In other J. M. Smucker news, insider Jill R. Penrose sold 5,117 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $116.26, for a total value of $594,902.42. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Tucker H. Marshall sold 5,028 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $113.36, for a total transaction of $569,974.08. Following the completion of the sale, the chief financial officer now owns 13,263 shares in the company, valued at $1,503,493.68. This represents a 27.49 % 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 Up 1.7 %

Shares of NYSE SJM opened at $118.35 on Tuesday. The J. M. Smucker Company has a 52-week low of $98.77 and a 52-week high of $125.75. The firm has a market capitalization of $12.59 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 3.91 and a beta of 0.28. The stock has a 50 day moving average price of $108.54 and a 200 day moving average price of $112.17. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58.

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

J. M. Smucker Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend was Friday, February 14th. J. M. Smucker’s payout ratio is -179.25%.

J. M. Smucker 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.