Palisade Asset Management LLC Grows Holdings in The J. M. Smucker Company (NYSE:SJM)

Palisade Asset Management LLC increased its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 2.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,270 shares of the company’s stock after purchasing an additional 126 shares during the period. Palisade Asset Management LLC’s holdings in J. M. Smucker were worth $666,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC raised its holdings in shares of J. M. Smucker by 300.0% in the 4th quarter. Wolverine Asset Management LLC now owns 200 shares of the company’s stock valued at $25,000 after buying an additional 150 shares during the period. Valley National Advisers Inc. boosted its stake in shares of J. M. Smucker by 2,266.7% in the fourth quarter. Valley National Advisers Inc. now owns 284 shares of the company’s stock valued at $35,000 after purchasing an additional 272 shares during the period. Lindbrook Capital LLC grew its holdings in shares of J. M. Smucker by 77.1% in the fourth quarter. Lindbrook Capital LLC now owns 409 shares of the company’s stock valued at $52,000 after purchasing an additional 178 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of J. M. Smucker during the fourth quarter worth $59,000. Finally, Oliver Lagore Vanvalin Investment Group increased its holdings in J. M. Smucker by 23.2% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 531 shares of the company’s stock worth $65,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SJM shares. DA Davidson started coverage on shares of J. M. Smucker in a research note on Friday, March 1st. They issued a “neutral” rating and a $132.00 price target for the company. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. TD Cowen decreased their price target on J. M. Smucker from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Barclays increased their price objective on J. M. Smucker from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Thursday, February 29th. Finally, Stifel Nicolaus upgraded shares of J. M. Smucker from a “hold” rating to a “buy” rating and set a $135.00 price target on the stock in a research note on Wednesday, February 28th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $137.47.

Insiders Place Their Bets

In related news, insider Jeannette L. Knudsen sold 3,200 shares of J. M. Smucker stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $124.77, for a total value of $399,264.00. Following the sale, the insider now directly owns 8,946 shares in the company, valued at $1,116,192.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.50% of the stock is currently owned by insiders.

J. M. Smucker Stock Performance

J. M. Smucker stock traded up $0.17 during mid-day trading on Tuesday, reaching $112.94. 796,128 shares of the company were exchanged, compared to its average volume of 1,266,187. The firm has a market cap of $11.99 billion, a PE ratio of -128.12, a price-to-earnings-growth ratio of 1.70 and a beta of 0.23. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.38 and a current ratio of 0.78. The firm’s 50-day simple moving average is $118.71 and its two-hundred day simple moving average is $120.70. The J. M. Smucker Company has a twelve month low of $107.33 and a twelve month high of $159.45.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $2.48 earnings per share 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 firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the firm posted $2.21 EPS. J. M. Smucker’s quarterly revenue was up .6% on a year-over-year basis. Equities analysts predict that The J. M. Smucker Company will post 9.6 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, May 16th. J. M. Smucker’s dividend payout ratio is presently -481.81%.

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.