The J. M. Smucker Company (NYSE:SJM) Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 17.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,297 shares of the company’s stock after selling 494 shares during the quarter. Pitcairn Co.’s holdings in J. M. Smucker were worth $253,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. raised its stake in J. M. Smucker by 3.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 324,381 shares of the company’s stock worth $35,721,000 after purchasing an additional 11,339 shares during the period. Nordea Investment Management AB increased its holdings in shares of J. M. Smucker by 16.5% during the 4th quarter. Nordea Investment Management AB now owns 1,361,902 shares of the company’s stock worth $150,082,000 after buying an additional 192,748 shares during the last quarter. Miracle Mile Advisors LLC purchased a new position in shares of J. M. Smucker in the 4th quarter worth $1,273,000. Signal Advisors Wealth LLC boosted its holdings in J. M. Smucker by 336.3% in the fourth quarter. Signal Advisors Wealth LLC now owns 12,950 shares of the company’s stock valued at $1,426,000 after acquiring an additional 9,982 shares during the last quarter. Finally, Douglas Lane & Associates LLC grew its position in J. M. Smucker by 6.7% during the fourth quarter. Douglas Lane & Associates LLC now owns 271,299 shares of the company’s stock valued at $29,875,000 after acquiring an additional 16,963 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

J. M. Smucker Stock Down 2.8 %

Shares of J. M. Smucker stock opened at $115.03 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27. The J. M. Smucker Company has a 1-year low of $98.77 and a 1-year high of $125.42. The business has a 50-day moving average of $109.70 and a 200-day moving average of $112.09. The company has a market capitalization of $12.24 billion, a PE ratio of 23.29, a P/E/G ratio of 3.91 and a beta of 0.35.

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

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Friday, February 14th. J. M. Smucker’s dividend payout ratio is currently -179.25%.

Insider Transactions at J. M. Smucker

In related news, insider Jill R. Penrose sold 5,117 shares of J. M. Smucker stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $116.26, for a total value of $594,902.42. Following the completion of the transaction, the insider now directly owns 8,794 shares in the company, valued at approximately $1,022,390.44. This trade represents a 36.78 % decrease in their ownership of the stock. The transaction 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 the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $113.36, for a total value of $569,974.08. Following the sale, the chief financial officer now owns 13,263 shares in the company, valued at $1,503,493.68. The trade was a 27.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SJM shares. Morgan Stanley assumed coverage on J. M. Smucker in a report on Monday, March 24th. They issued an “overweight” rating and a $123.00 price objective on the stock. TD Cowen cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and reduced their price target for the company from $130.00 to $121.00 in a research report on Wednesday, January 8th. Barclays dropped their price objective on shares of J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. DA Davidson reduced their target price on shares of J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, Stifel Nicolaus lowered their price target 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. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $125.67.

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.