Somerset Trust Co Takes Position in The J. M. Smucker Company (NYSE:SJM)

Somerset Trust Co purchased a new position in shares of The J. M. Smucker Company (NYSE:SJM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,009 shares of the company’s stock, valued at approximately $221,000.

Several other large investors have also recently added to or reduced their stakes in SJM. State Street Corp lifted its holdings in J. M. Smucker by 12.0% in the third quarter. State Street Corp now owns 7,111,023 shares of the company’s stock valued at $861,145,000 after acquiring an additional 762,746 shares during the period. FMR LLC grew its position in J. M. Smucker by 40.0% during the third quarter. FMR LLC now owns 3,353,996 shares of the company’s stock worth $406,169,000 after buying an additional 958,142 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of J. M. Smucker by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,783,183 shares of the company’s stock worth $194,435,000 after acquiring an additional 135,158 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of J. M. Smucker by 14.4% in the 2nd quarter. ProShare Advisors LLC now owns 1,526,074 shares of the company’s stock worth $166,403,000 after acquiring an additional 192,075 shares during the period. Finally, Nordea Investment Management AB increased its stake in 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 valued at $150,082,000 after purchasing an additional 192,748 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. TD Cowen downgraded J. M. Smucker from a “buy” rating to a “hold” rating and decreased their target price for the stock from $130.00 to $121.00 in a research report on Wednesday, January 8th. 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 research report on Wednesday, November 27th. Stifel Nicolaus downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and dropped their target price for the company from $135.00 to $125.00 in a report on Friday, October 25th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. Finally, Barclays dropped their price objective on shares of 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 investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $127.33.

J. M. Smucker Stock Performance

Shares of SJM opened at $102.16 on Friday. The company has a market capitalization of $10.87 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 3.08 and a beta of 0.28. 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 J. M. Smucker Company has a 1 year low of $99.81 and a 1 year high of $134.62. The company’s 50 day simple moving average is $111.31 and its 200 day simple moving average is $115.38.

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

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were issued a dividend of $1.08 per share. The ex-dividend date was Friday, November 15th. This represents a $4.32 annualized dividend and a dividend yield of 4.23%. J. M. Smucker’s payout ratio is currently 87.45%.

Insider Buying and Selling

In other news, CFO Tucker H. Marshall sold 994 shares of the business’s 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 completion of the sale, the chief financial officer now owns 18,734 shares in the company, valued at approximately $2,116,942. The trade was a 5.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.40% of the stock is currently owned by company insiders.

J. M. Smucker 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.