Te Ahumairangi Investment Management Ltd Sells 2,282 Shares of The J. M. Smucker Company (NYSE:SJM)

Te Ahumairangi Investment Management Ltd cut its holdings in The J. M. Smucker Company (NYSE:SJM) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,639 shares of the company’s stock after selling 2,282 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in J. M. Smucker were worth $4,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SJM. Norges Bank bought a new position in shares of J. M. Smucker during the fourth quarter valued at approximately $112,978,000. State Street Corp increased its position in J. M. Smucker by 12.0% during the 3rd quarter. State Street Corp now owns 7,111,023 shares of the company’s stock valued at $861,145,000 after purchasing an additional 762,746 shares during the period. Raymond James Financial Inc. bought a new position in J. M. Smucker in the 4th quarter worth $32,988,000. Amundi raised its holdings in J. M. Smucker by 49.3% in the 4th quarter. Amundi now owns 628,381 shares of the company’s stock worth $66,250,000 after purchasing an additional 207,477 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of J. M. Smucker by 16.5% in the 4th quarter. Nordea Investment Management AB now owns 1,361,902 shares of the company’s stock worth $150,082,000 after purchasing an additional 192,748 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SJM. 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. Stifel Nicolaus decreased their target price on J. M. Smucker from $125.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Morgan Stanley assumed coverage on J. M. Smucker in a research report on Monday, March 24th. They set an “overweight” rating and a $123.00 price target on the stock. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a report on Friday, March 28th. Finally, DA Davidson dropped 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, J. M. Smucker presently has an average rating of “Hold” and a consensus target price of $125.67.

Insider Activity at J. M. Smucker

In related news, CFO Tucker H. Marshall sold 5,028 shares of the firm’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 approximately $1,503,493.68. This trade represents a 27.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jill R. Penrose sold 5,117 shares of the business’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $116.26, for a total transaction of $594,902.42. Following the sale, the insider now owns 8,794 shares of the company’s stock, valued at approximately $1,022,390.44. This represents a 36.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

J. M. Smucker Stock Performance

Shares of SJM stock opened at $118.41 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58. The company has a market capitalization of $12.60 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 3.91 and a beta of 0.28. The J. M. Smucker Company has a one year low of $98.77 and a one year high of $125.42. The company’s 50-day moving average is $108.84 and its 200 day moving average is $112.15.

J. M. Smucker (NYSE:SJM) last announced 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. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.23 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. Sell-side analysts expect that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend was Friday, February 14th. J. M. Smucker’s payout ratio is currently -179.25%.

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.