Gardiner Nancy B reduced its stake in shares of J M Smucker Co (NYSE:SJM) by 5.2% in the 1st quarter, HoldingsChannel reports. The fund owned 3,100 shares of the company’s stock after selling 170 shares during the quarter. Gardiner Nancy B’s holdings in J M Smucker were worth $361,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in SJM. Quantamental Technologies LLC acquired a new position in J M Smucker during the fourth quarter worth $28,000. Howe & Rusling Inc. increased its stake in shares of J M Smucker by 218.3% in the fourth quarter. Howe & Rusling Inc. now owns 296 shares of the company’s stock valued at $28,000 after buying an additional 203 shares in the last quarter. Pinnacle Bank acquired a new stake in shares of J M Smucker in the fourth quarter valued at $39,000. Meeder Asset Management Inc. acquired a new stake in shares of J M Smucker in the fourth quarter valued at $44,000. Finally, Private Capital Group LLC acquired a new stake in shares of J M Smucker in the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.
Shares of SJM stock opened at $123.54 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.95 and a quick ratio of 0.44. The stock has a market capitalization of $14.05 billion, a P/E ratio of 15.18, a PEG ratio of 2.50 and a beta of 0.58. J M Smucker Co has a 12 month low of $91.32 and a 12 month high of $123.58.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $3.40 dividend on an annualized basis and a yield of 2.75%. J M Smucker’s payout ratio is 42.71%.
SJM has been the subject of a number of research reports. Citigroup raised their target price on J M Smucker from $122.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th. Jefferies Financial Group set a $125.00 target price on J M Smucker and gave the company a “buy” rating in a research note on Tuesday, February 26th. Zacks Investment Research upgraded J M Smucker from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research note on Wednesday, March 27th. Morgan Stanley upgraded J M Smucker from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $104.00 to $117.00 in a research note on Thursday, April 18th. Finally, ValuEngine upgraded J M Smucker from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $116.73.
In related news, SVP Jeannette L. Knudsen sold 1,932 shares of J M Smucker stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $102.86, for a total value of $198,725.52. Following the completion of the sale, the senior vice president now directly owns 24,292 shares in the company, valued at $2,498,675.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.92% of the stock is owned by company insiders.
J M Smucker Company Profile
The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company primarily offers coffee, pet food and pet snacks, peanut butter, fruit spreads, shortening and oils, baking mixes and ready-to-spread frostings, frozen sandwiches, flour and baking ingredients, juices and beverages, and portion control products.
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