The J. M. Smucker Company (NYSE:SJM) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 13.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 977,817 shares of the company’s stock after purchasing an additional 118,240 shares during the quarter. Bank of New York Mellon Corp owned 0.92% of J. M. Smucker worth $107,677,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SJM. Wealth Enhancement Advisory Services LLC grew its position in J. M. Smucker by 23.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 20,421 shares of the company’s stock valued at $2,473,000 after acquiring an additional 3,899 shares in the last quarter. Nisa Investment Advisors LLC grew its position in J. M. Smucker by 2.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,070 shares of the company’s stock valued at $735,000 after acquiring an additional 134 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in J. M. Smucker by 17.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,197 shares of the company’s stock valued at $750,000 after acquiring an additional 924 shares in the last quarter. US Bancorp DE grew its position in J. M. Smucker by 1.4% in the 3rd quarter. US Bancorp DE now owns 41,171 shares of the company’s stock valued at $4,986,000 after acquiring an additional 559 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV grew its position in J. M. Smucker by 7.0% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,703 shares of the company’s stock valued at $1,659,000 after acquiring an additional 896 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SJM. Wells Fargo & Company lifted their target price 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. TD Cowen cut J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price objective for the company from $130.00 to $121.00 in a research note on Wednesday, January 8th. Stifel Nicolaus decreased 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. Finally, Barclays decreased 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 note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $126.63.

Insider Buying and Selling

In other news, CFO Tucker H. Marshall sold 994 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $113.00, for a total value of $112,322.00. Following the completion of the sale, the chief financial officer now directly owns 18,734 shares of the company’s stock, valued at approximately $2,116,942. This represents a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is owned by company insiders.

J. M. Smucker Price Performance

SJM stock opened at $110.69 on Friday. The business has a 50 day moving average price of $106.19 and a 200 day moving average price of $113.16. The stock has a market cap of $11.78 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 3.91 and a beta of 0.27. The J. M. Smucker Company has a fifty-two week low of $98.77 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 posted its earnings results on Thursday, February 27th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.24. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.23 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. Equities research analysts anticipate that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.90%. The ex-dividend date is Friday, February 14th. J. M. Smucker’s payout ratio is -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.