The J. M. Smucker Company (NYSE:SJM) Shares Acquired by Hourglass Capital LLC

Hourglass Capital LLC increased its position in shares of The J. M. Smucker Company (NYSE:SJM) by 5.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 30,380 shares of the company’s stock after acquiring an additional 1,700 shares during the period. Hourglass Capital LLC’s holdings in J. M. Smucker were worth $3,345,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of J. M. Smucker by 3.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 324,381 shares of the company’s stock worth $35,721,000 after buying an additional 11,339 shares during the last quarter. Raymond James Trust N.A. increased its holdings in J. M. Smucker by 6.8% during the 3rd 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 raised its position in J. M. Smucker by 16.5% during 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 last quarter. Miracle Mile Advisors LLC purchased a new stake in shares of J. M. Smucker in the fourth quarter valued at about $1,273,000. Finally, Signal Advisors Wealth LLC grew its position 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 valued at $1,426,000 after purchasing an additional 9,982 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

J. M. Smucker Stock Performance

NYSE:SJM opened at $102.07 on Friday. The company has a market cap of $10.86 billion, a P/E ratio of 20.66, a P/E/G ratio of 3.15 and a beta of 0.27. The firm’s 50 day moving average is $107.27 and its two-hundred day moving average is $113.97. The J. M. Smucker Company has a fifty-two week low of $99.81 and a fifty-two week high of $127.59. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.25. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company posted $2.59 EPS. The business’s quarterly revenue was up 17.2% on a year-over-year basis. Analysts expect that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Friday, February 14th. J. M. Smucker’s payout ratio is currently 87.45%.

Insider Buying and Selling

In related news, CFO Tucker H. Marshall sold 994 shares of J. M. Smucker stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $113.00, for a total transaction of $112,322.00. Following the transaction, the chief financial officer now owns 18,734 shares in the company, valued at approximately $2,116,942. The trade was a 5.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

SJM has been the subject of several research reports. Barclays cut their price objective on J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 4th. TD Cowen cut J. M. Smucker from a “buy” rating to a “hold” rating and cut their price target for the stock from $130.00 to $121.00 in a report on Wednesday, January 8th. Wells Fargo & Company increased their price objective on J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, Stifel Nicolaus cut their target price on shares of 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $126.78.

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.