Cibc World Markets Corp Purchases 5,482 Shares of The J. M. Smucker Company (NYSE:SJM)

Cibc World Markets Corp increased its position in The J. M. Smucker Company (NYSE:SJM) by 15.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,775 shares of the company’s stock after purchasing an additional 5,482 shares during the quarter. Cibc World Markets Corp’s holdings in J. M. Smucker were worth $4,600,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SJM. FMR LLC lifted its position in J. M. Smucker by 40.0% in the third quarter. FMR LLC now owns 3,353,996 shares of the company’s stock worth $406,169,000 after purchasing an additional 958,142 shares during the period. State Street Corp lifted its position in J. M. Smucker by 12.0% in the third quarter. State Street Corp now owns 7,111,023 shares of the company’s stock worth $861,145,000 after purchasing an additional 762,746 shares during the period. Raymond James Financial Inc. bought a new position in J. M. Smucker in the fourth quarter worth $32,988,000. Amundi lifted its position in J. M. Smucker by 49.3% in the fourth quarter. Amundi now owns 628,381 shares of the company’s stock worth $66,250,000 after purchasing an additional 207,477 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of 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 valued at $150,082,000 after acquiring an additional 192,748 shares during the period. 81.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on SJM shares. Barclays cut their price objective 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. StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. Wells Fargo & Company lifted their price objective on J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Stifel Nicolaus cut their price objective on J. M. Smucker from $125.00 to $120.00 and set a “hold” rating for the company in a report on Friday, January 24th. Finally, DA Davidson cut their price objective on J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, J. M. Smucker presently has a consensus rating of “Hold” and a consensus price target of $126.00.

Insider Buying and Selling

In related news, CFO Tucker H. Marshall sold 5,028 shares of J. M. Smucker stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $113.36, for a total value of $569,974.08. Following the completion of the sale, the chief financial officer now directly owns 13,263 shares in the company, valued at $1,503,493.68. This trade represents a 27.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.40% of the company’s stock.

J. M. Smucker Price Performance

Shares of SJM stock opened at $110.15 on Thursday. The stock has a 50-day moving average price of $106.74 and a 200 day moving average price of $112.52. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The firm has a market cap of $11.72 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 3.91 and a beta of 0.28. The J. M. Smucker Company has a 12 month low of $98.77 and a 12 month high of $127.59.

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

J. M. Smucker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $1.08 dividend. The ex-dividend date was Friday, February 14th. This represents a $4.32 dividend on an annualized basis and a yield of 3.92%. J. M. Smucker’s payout ratio is -179.25%.

J. M. Smucker Company 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.