Douglas Lane & Associates LLC Grows Position in The J. M. Smucker Company (NYSE:SJM)

Douglas Lane & Associates LLC grew its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 271,299 shares of the company’s stock after acquiring an additional 16,963 shares during the period. Douglas Lane & Associates LLC owned about 0.25% of J. M. Smucker worth $29,875,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. National Bank of Canada FI raised its holdings in shares of J. M. Smucker by 80.7% in the second quarter. National Bank of Canada FI now owns 45,233 shares of the company’s stock worth $4,998,000 after acquiring an additional 20,201 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of J. M. Smucker by 24.0% during the 2nd quarter. Private Advisor Group LLC now owns 13,443 shares of the company’s stock valued at $1,452,000 after acquiring an additional 2,598 shares during the last quarter. Candriam S.C.A. boosted its position in shares of J. M. Smucker by 2.6% in the second quarter. Candriam S.C.A. now owns 11,258 shares of the company’s stock worth $1,228,000 after acquiring an additional 289 shares during the last quarter. Cullen Frost Bankers Inc. raised its stake in J. M. Smucker by 75.5% during the second quarter. Cullen Frost Bankers Inc. now owns 3,371 shares of the company’s stock worth $368,000 after purchasing an additional 1,450 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in J. M. Smucker by 342.8% in the second quarter. Acadian Asset Management LLC now owns 4,468 shares of the company’s stock valued at $485,000 after acquiring an additional 3,459 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Trading Down 2.5 %

Shares of NYSE SJM traded down $2.66 during mid-day trading on Wednesday, hitting $104.81. 682,707 shares of the company traded hands, compared to its average volume of 918,802. The business has a 50 day moving average of $113.21 and a two-hundred day moving average of $115.84. The stock has a market capitalization of $11.15 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 3.46 and a beta of 0.28. The J. M. Smucker Company has a 1 year low of $104.27 and a 1 year high of $134.62. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, beating the consensus estimate of $2.51 by $0.25. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.59 EPS. On average, sell-side analysts anticipate that The J. M. Smucker Company will post 9.89 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 4.12%. The ex-dividend date was Friday, November 15th. J. M. Smucker’s payout ratio is currently 87.45%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SJM. Stifel Nicolaus downgraded J. M. Smucker from a “buy” rating to a “hold” rating and decreased their target price for the stock from $135.00 to $125.00 in a research report on Friday, October 25th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. TD Cowen lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and lowered their price target for the company from $130.00 to $121.00 in a report on Wednesday. Wells Fargo & Company boosted their price objective on shares of J. M. Smucker from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Finally, Barclays lowered their target price on J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, J. M. Smucker currently has an average rating of “Hold” and a consensus price target of $127.33.

Insider Transactions at J. M. Smucker

In related news, CFO Tucker H. Marshall sold 994 shares of J. M. Smucker stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $113.00, for a total transaction of $112,322.00. Following the sale, the chief financial officer now directly owns 18,734 shares of the company’s stock, valued at $2,116,942. This trade represents a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.40% of the company’s stock.

J. M. Smucker Company Profile

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.