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

DnB Asset Management AS lifted its position in The J. M. Smucker Company (NYSE:SJM) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,236 shares of the company’s stock after purchasing an additional 630 shares during the quarter. DnB Asset Management AS’s holdings in J. M. Smucker were worth $2,779,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Capital Advisors Ltd. LLC increased its stake in J. M. Smucker by 188.8% in the 4th quarter. Capital Advisors Ltd. LLC now owns 231 shares of the company’s stock worth $25,000 after acquiring an additional 151 shares during the last quarter. Kentucky Trust Co purchased a new position in shares of J. M. Smucker in the fourth quarter valued at $28,000. Kieckhefer Group LLC bought a new stake in J. M. Smucker in the fourth quarter worth $33,000. Hantz Financial Services Inc. purchased a new stake in J. M. Smucker during the fourth quarter valued at $39,000. Finally, Sandy Spring Bank lifted its position in J. M. Smucker by 1,365.5% during the fourth quarter. Sandy Spring Bank now owns 425 shares of the company’s stock valued at $47,000 after purchasing an additional 396 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

J. M. Smucker Stock Up 1.7 %

Shares of SJM opened at $118.35 on Tuesday. The firm has a fifty day moving average price of $108.54 and a 200-day moving average price of $112.17. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $12.59 billion, a P/E ratio of 23.96, a P/E/G 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 $125.75.

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

J. M. Smucker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Friday, February 14th. J. M. Smucker’s dividend payout ratio is -179.25%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SJM shares. Stifel Nicolaus decreased their target price on shares of J. M. Smucker from $125.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Barclays decreased their price objective on J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Morgan Stanley started coverage on J. M. Smucker in a report on Monday, March 24th. They issued an “overweight” rating and a $123.00 target price for the company. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Friday. Finally, DA Davidson dropped their price objective on shares of J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $125.67.

Insider Transactions at J. M. Smucker

In other news, insider Jill R. Penrose sold 5,117 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $116.26, for a total value of $594,902.42. Following the completion of the sale, the insider now owns 8,794 shares of the company’s stock, valued at approximately $1,022,390.44. This represents a 36.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tucker H. Marshall sold 5,028 shares of J. M. Smucker stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $113.36, for a total transaction of $569,974.08. Following the transaction, the chief financial officer now directly owns 13,263 shares in the company, valued at approximately $1,503,493.68. The trade was a 27.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

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.