The J. M. Smucker Company (NYSE:SJM) Position Lessened by Pitcairn Co.

Pitcairn Co. reduced its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 17.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,297 shares of the company’s stock after selling 494 shares during the period. Pitcairn Co.’s holdings in J. M. Smucker were worth $253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. ExodusPoint Capital Management LP increased its holdings in shares of J. M. Smucker by 5.1% in the 4th quarter. ExodusPoint Capital Management LP now owns 359,822 shares of the company’s stock worth $39,624,000 after acquiring an additional 17,302 shares during the period. Cinctive Capital Management LP acquired a new stake in shares of J. M. Smucker in the fourth quarter valued at approximately $2,121,000. Columbia Asset Management acquired a new position in shares of J. M. Smucker during the fourth quarter worth approximately $227,000. Trexquant Investment LP acquired a new position in shares of J. M. Smucker during the fourth quarter worth approximately $15,886,000. Finally, Geode Capital Management LLC grew its holdings in J. M. Smucker by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 2,609,952 shares of the company’s stock worth $286,664,000 after buying an additional 58,231 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

J. M. Smucker Trading Down 2.8 %

NYSE SJM opened at $115.03 on Monday. The firm’s 50 day moving average price is $109.70 and its two-hundred day moving average price is $112.09. The stock has a market cap of $12.24 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 3.91 and a beta of 0.35. The J. M. Smucker Company has a twelve month low of $98.77 and a twelve month high of $125.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58.

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

J. M. Smucker Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SJM shares. DA Davidson reduced their price target on J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Stifel Nicolaus decreased their price target on J. M. Smucker from $125.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Morgan Stanley began coverage on J. M. Smucker in a research note on Monday, March 24th. They issued an “overweight” rating and a $123.00 price objective on the stock. Barclays decreased their target price on J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Finally, StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, J. M. Smucker has an average rating of “Hold” and a consensus price target of $125.67.

Insider Buying and Selling at J. M. Smucker

In other news, CFO Tucker H. Marshall sold 5,028 shares of J. M. Smucker stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $113.36, for a total transaction of $569,974.08. Following the completion of the sale, the chief financial officer now directly owns 13,263 shares in the company, valued at $1,503,493.68. The trade was a 27.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jill R. Penrose sold 5,117 shares of the stock in a transaction that occurred on 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 owns 8,794 shares in the company, valued at $1,022,390.44. This represents a 36.78 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

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.