DNB Asset Management AS Grows Stock Position in The J. M. Smucker Company (NYSE:SJM)

DNB Asset Management AS raised its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 5.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 22,476 shares of the company’s stock after buying an additional 1,159 shares during the period. DNB Asset Management AS’s holdings in J. M. Smucker were worth $2,451,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SJM. Arizona State Retirement System increased its stake in shares of J. M. Smucker by 4.8% in the 4th quarter. Arizona State Retirement System now owns 29,166 shares of the company’s stock valued at $3,686,000 after purchasing an additional 1,325 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its stake in shares of J. M. Smucker by 3.4% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 60,392 shares of the company’s stock valued at $7,632,000 after purchasing an additional 1,989 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of J. M. Smucker by 12,722.3% in the 4th quarter. International Assets Investment Management LLC now owns 334,022 shares of the company’s stock valued at $42,214,000 after purchasing an additional 331,417 shares in the last quarter. Allworth Financial LP increased its stake in shares of J. M. Smucker by 5.8% in the 4th quarter. Allworth Financial LP now owns 2,646 shares of the company’s stock valued at $334,000 after purchasing an additional 144 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its stake in shares of J. M. Smucker by 22.3% in the 4th quarter. Meeder Advisory Services Inc. now owns 2,257 shares of the company’s stock valued at $285,000 after purchasing an additional 412 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Insider Buying and Selling at J. M. Smucker

In other news, CEO Mark T. Smucker sold 10,000 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the sale, the chief executive officer now owns 78,757 shares of the company’s stock, valued at $8,675,871.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is owned by corporate insiders.

J. M. Smucker Price Performance

Shares of J. M. Smucker stock traded down $1.94 on Tuesday, hitting $118.94. 881,790 shares of the company were exchanged, compared to its average volume of 1,252,667. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $150.08. The stock has a market capitalization of $12.63 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 2.45 and a beta of 0.25. The company has a 50-day moving average price of $113.11 and a 200 day moving average price of $118.09. The company has a quick ratio of 0.25, a current ratio of 0.52 and a debt-to-equity ratio of 0.88.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Thursday, June 6th. The company reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.34. J. M. Smucker had a return on equity of 14.15% and a net margin of 9.10%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the firm posted $2.64 earnings per share. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts predict that The J. M. Smucker Company will post 10.06 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be given a $1.08 dividend. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.63%. J. M. Smucker’s payout ratio is presently 59.55%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. DA Davidson lowered their price objective on J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating on the stock in a report on Monday, June 10th. Barclays lowered their price objective on J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Citigroup lifted their price objective on J. M. Smucker from $137.00 to $139.00 and gave the stock a “buy” rating in a report on Friday, June 7th. TD Cowen lowered their price objective on J. M. Smucker from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Finally, Argus lowered their price objective on J. M. Smucker from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $132.64.

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.