Sumitomo Life Insurance Co. decreased its position in shares of J M Smucker Co (NYSE:SJM) by 9.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,753 shares of the company’s stock after selling 1,186 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in J M Smucker were worth $1,253,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SJM. Oregon Public Employees Retirement Fund raised its holdings in J M Smucker by 12,668.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,351,461 shares of the company’s stock valued at $57,000 after buying an additional 5,309,548 shares during the last quarter. Bank of America Corp DE increased its position in J M Smucker by 312.2% during the 4th quarter. Bank of America Corp DE now owns 4,351,714 shares of the company’s stock valued at $406,843,000 after purchasing an additional 3,295,923 shares during the period. Norges Bank acquired a new stake in J M Smucker during the 4th quarter valued at approximately $93,308,000. BlackRock Inc. increased its position in J M Smucker by 7.4% during the 4th quarter. BlackRock Inc. now owns 10,239,722 shares of the company’s stock valued at $957,309,000 after purchasing an additional 708,976 shares during the period. Finally, Morgan Stanley increased its position in J M Smucker by 100.2% during the 3rd quarter. Morgan Stanley now owns 842,732 shares of the company’s stock valued at $86,473,000 after purchasing an additional 421,792 shares during the period. 77.85% of the stock is owned by institutional investors and hedge funds.
NYSE:SJM traded up $0.94 during mid-day trading on Friday, reaching $126.90. The stock had a trading volume of 548,451 shares, compared to its average volume of 604,207. The company has a market capitalization of $14.33 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 2.55 and a beta of 0.58. J M Smucker Co has a one year low of $91.32 and a one year high of $127.04. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.68%. J M Smucker’s dividend payout ratio is presently 42.71%.
SJM has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of J M Smucker from a “hold” rating to a “sell” rating in a research report on Friday, February 1st. Citigroup lifted their price target on shares of J M Smucker from $122.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Wells Fargo & Co lifted their price target on shares of J M Smucker from $100.00 to $105.00 and gave the company a “market perform” rating in a research report on Monday, February 25th. ValuEngine raised shares of J M Smucker from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Finally, Credit Suisse Group lifted their price target on shares of J M Smucker from $94.00 to $96.00 and gave the company an “underperform” rating in a research report on Wednesday, February 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $116.73.
In related news, SVP Jeannette L. Knudsen sold 1,932 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $102.86, for a total transaction of $198,725.52. Following the completion of the transaction, the senior vice president now 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 this hyperlink. 3.92% of the stock is owned by corporate insiders.
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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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