The J. M. Smucker Company (NYSE:SJM) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 1.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 632,208 shares of the company’s stock after selling 10,313 shares during the period. California Public Employees Retirement System owned approximately 0.60% of J. M. Smucker worth $79,898,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SJM. Valley National Advisers Inc. lifted its position in J. M. Smucker by 2,266.7% during the 4th quarter. Valley National Advisers Inc. now owns 284 shares of the company’s stock worth $35,000 after acquiring an additional 272 shares in the last quarter. Lindbrook Capital LLC lifted its position in J. M. Smucker by 77.1% during the 4th quarter. Lindbrook Capital LLC now owns 409 shares of the company’s stock worth $52,000 after acquiring an additional 178 shares in the last quarter. Planned Solutions Inc. acquired a new position in J. M. Smucker during the 4th quarter worth approximately $59,000. Oliver Lagore Vanvalin Investment Group lifted its position in J. M. Smucker by 23.2% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 531 shares of the company’s stock worth $65,000 after acquiring an additional 100 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in J. M. Smucker by 171.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 535 shares of the company’s stock worth $66,000 after acquiring an additional 338 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jeannette L. Knudsen sold 3,200 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $124.77, for a total transaction of $399,264.00. Following the completion of the transaction, the insider now directly owns 8,946 shares in the company, valued at approximately $1,116,192.42. The sale was disclosed in a document filed with the SEC, which is available through this link. 3.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on SJM. TD Cowen cut their target price on J. M. Smucker from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, April 8th. Barclays upped their target price on J. M. Smucker from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. upped their target price on J. M. Smucker from $126.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Finally, DA Davidson began coverage on J. M. Smucker in a research report on Friday, March 1st. They issued a “neutral” rating and a $132.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $137.47.

J. M. Smucker Price Performance

Shares of SJM opened at $118.55 on Thursday. The company has a market cap of $12.59 billion, a P/E ratio of -134.71, a PEG ratio of 1.88 and a beta of 0.21. The stock has a fifty day moving average price of $120.63 and a 200 day moving average price of $120.68. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.78 and a quick ratio of 0.38. The J. M. Smucker Company has a 12 month low of $107.33 and a 12 month high of $159.92.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.21. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.22 billion. J. M. Smucker had a positive return on equity of 14.29% and a negative net margin of 1.24%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $2.21 EPS. On average, research analysts forecast that The J. M. Smucker Company will post 9.6 earnings per share for the current year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be paid a dividend of $1.06 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.24 dividend on an annualized basis and a yield of 3.58%. J. M. Smucker’s payout ratio is currently -481.81%.

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.