Norges Bank Buys New Stake in The J. M. Smucker Company (NYSE:SJM)

Norges Bank purchased a new position in The J. M. Smucker Company (NYSE:SJM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,025,952 shares of the company’s stock, valued at approximately $112,978,000. Norges Bank owned about 0.96% of J. M. Smucker 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 the business. Salem Investment Counselors Inc. raised its position in shares of J. M. Smucker by 17.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 660 shares of the company’s stock valued at $73,000 after buying an additional 100 shares in the last quarter. Trust Co. of Vermont increased its stake in J. M. Smucker by 4.1% during the fourth quarter. Trust Co. of Vermont now owns 2,731 shares of the company’s stock worth $301,000 after acquiring an additional 108 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in J. M. Smucker by 6.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,845 shares of the company’s stock valued at $203,000 after purchasing an additional 115 shares during the period. Mendel Money Management lifted its stake in shares of J. M. Smucker by 3.1% in the 4th quarter. Mendel Money Management now owns 3,933 shares of the company’s stock valued at $433,000 after purchasing an additional 117 shares during the last quarter. Finally, Code Waechter LLC boosted its holdings in shares of J. M. Smucker by 2.5% in the 4th quarter. Code Waechter LLC now owns 5,023 shares of the company’s stock worth $553,000 after purchasing an additional 124 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Stifel Nicolaus decreased their price target on J. M. Smucker from $125.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Morgan Stanley began coverage on shares of J. M. Smucker in a research note on Monday, March 24th. They issued an “overweight” rating and a $123.00 target price on the stock. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Friday, March 28th. DA Davidson cut their price target 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. Finally, Barclays decreased their price objective on shares of 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $125.67.

J. M. Smucker Stock Down 0.0 %

Shares of NYSE SJM 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 firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 3.91 and a beta of 0.28. The stock has a 50 day moving average price of $108.84 and a 200 day moving average price of $112.15. The J. M. Smucker Company has a 52-week low of $98.77 and a 52-week high of $125.42.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Thursday, February 27th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.24. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.23 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. Sell-side analysts expect that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 3.65%. The ex-dividend date was Friday, February 14th. J. M. Smucker’s dividend payout ratio (DPR) is -179.25%.

Insider Activity

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