Edgestream Partners L.P. Raises Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Edgestream Partners L.P. lifted its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 201.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,292 shares of the company’s stock after acquiring an additional 24,911 shares during the quarter. Edgestream Partners L.P.’s holdings in J. M. Smucker were worth $4,107,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. grew its holdings in 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 purchasing an additional 11,339 shares during the period. Raymond James Trust N.A. boosted its holdings in shares of J. M. Smucker by 6.8% in the third quarter. Raymond James Trust N.A. now owns 4,846 shares of the company’s stock worth $587,000 after acquiring an additional 310 shares during the period. Nordea Investment Management AB boosted its holdings in shares of J. M. Smucker by 16.5% in the fourth 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 bought a new position in shares of J. M. Smucker in the fourth quarter worth $1,273,000. Finally, Signal Advisors Wealth LLC boosted its holdings in shares of J. M. Smucker by 336.3% in the fourth quarter. Signal Advisors Wealth LLC now owns 12,950 shares of the company’s stock worth $1,426,000 after acquiring an additional 9,982 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at J. M. Smucker

In related news, CFO Tucker H. Marshall sold 994 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 18,734 shares in the company, valued at $2,116,942. The trade was 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. Insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SJM shares. Barclays cut their price target on J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Stifel Nicolaus dropped their price objective on J. M. Smucker from $125.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, January 24th. TD Cowen lowered J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price objective for the company from $130.00 to $121.00 in a research note on Wednesday, January 8th. StockNews.com lowered J. M. Smucker from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. Finally, Wells Fargo & Company raised their price target on J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, J. M. Smucker has a consensus rating of “Hold” and an average price target of $126.13.

J. M. Smucker Stock Up 5.2 %

Shares of NYSE:SJM opened at $117.29 on Friday. The J. M. Smucker Company has a 1 year low of $98.77 and a 1 year high of $127.59. The company has a market cap of $12.48 billion, a PE ratio of 23.74, a P/E/G ratio of 3.91 and a beta of 0.28. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27. The stock’s 50-day moving average is $106.14 and its 200 day moving average is $112.96.

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

J. M. Smucker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $1.08 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.68%. J. M. Smucker’s dividend payout ratio is currently -179.25%.

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.