PGGM Investments Lowers Position in The J. M. Smucker Company (NYSE:SJM)

PGGM Investments decreased its position in shares of The J. M. Smucker Company (NYSE:SJM) by 16.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,702 shares of the company’s stock after selling 746 shares during the period. PGGM Investments’ holdings in J. M. Smucker were worth $468,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Invesco Ltd. grew its position in shares of J. M. Smucker by 9.3% in the 3rd quarter. Invesco Ltd. now owns 1,777,750 shares of the company’s stock worth $218,503,000 after buying an additional 151,389 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of J. M. Smucker by 487.5% during the third quarter. Ameriprise Financial Inc. now owns 1,459,200 shares of the company’s stock valued at $178,961,000 after purchasing an additional 1,210,837 shares during the last quarter. Northern Trust Corp boosted its position in shares of J. M. Smucker by 2.1% in the 3rd quarter. Northern Trust Corp now owns 1,457,736 shares of the company’s stock worth $179,170,000 after purchasing an additional 29,728 shares in the last quarter. Nordea Investment Management AB increased its position in J. M. Smucker by 363.8% during the 4th quarter. Nordea Investment Management AB now owns 1,274,015 shares of the company’s stock valued at $160,258,000 after buying an additional 999,315 shares in the last quarter. Finally, Tandem Investment Advisors Inc. raised its stake in J. M. Smucker by 6.5% during the third quarter. Tandem Investment Advisors Inc. now owns 659,904 shares of the company’s stock valued at $81,109,000 after buying an additional 40,308 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Stock Performance

NYSE SJM opened at $114.65 on Tuesday. The business has a 50-day moving average price of $119.91 and a 200-day moving average price of $120.71. The J. M. Smucker Company has a twelve month low of $107.33 and a twelve month high of $159.92. The company has a quick ratio of 0.38, a current ratio of 0.78 and a debt-to-equity ratio of 1.07.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.21. J. M. Smucker had a negative net margin of 1.24% and a positive return on equity of 14.29%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the firm posted $2.21 EPS. J. M. Smucker’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts predict that The J. M. Smucker Company will post 9.6 earnings per share for the current year.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Thursday, May 16th. J. M. Smucker’s payout ratio is -481.81%.

Insider Transactions at J. M. Smucker

In related news, insider Jeannette L. Knudsen sold 3,200 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $124.77, for a total value of $399,264.00. Following the completion of the transaction, the insider now directly owns 8,946 shares of the company’s stock, valued at $1,116,192.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.50% of the company’s stock.

Wall Street Analyst Weigh In

SJM has been the subject of several recent analyst reports. TD Cowen lowered their price target on J. M. Smucker from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Citigroup reduced their price target on shares of J. M. Smucker from $153.00 to $152.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday. Barclays lifted their target price on J. M. Smucker from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. boosted their target price on J. M. Smucker from $126.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $137.47.

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.