Cornerstone Capital Inc. Has $11.73 Million Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Cornerstone Capital Inc. lessened its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 1.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 92,802 shares of the company’s stock after selling 1,002 shares during the quarter. Cornerstone Capital Inc.’s holdings in J. M. Smucker were worth $11,728,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SJM. Ameriprise Financial Inc. grew its holdings in shares of J. M. Smucker by 487.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,459,200 shares of the company’s stock valued at $178,961,000 after buying an additional 1,210,837 shares during the period. Nordea Investment Management AB grew its holdings in shares of J. M. Smucker by 363.8% in the 4th quarter. Nordea Investment Management AB now owns 1,274,015 shares of the company’s stock valued at $160,258,000 after buying an additional 999,315 shares during the period. International Assets Investment Management LLC grew its holdings in shares of J. M. Smucker by 12,722.3% in the 4th quarter. International Assets Investment Management LLC now owns 334,022 shares of the company’s stock valued at $42,214,000 after buying an additional 331,417 shares during the period. FMR LLC grew its holdings in shares of J. M. Smucker by 32.2% in the 3rd quarter. FMR LLC now owns 646,827 shares of the company’s stock valued at $79,501,000 after buying an additional 157,443 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of J. M. Smucker by 9.3% in the 3rd quarter. Invesco Ltd. now owns 1,777,750 shares of the company’s stock valued at $218,503,000 after buying an additional 151,389 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Activity

In other news, insider Jeannette L. Knudsen sold 3,200 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $124.77, for a total value of $399,264.00. Following the sale, the insider now directly owns 8,946 shares of the company’s stock, valued at approximately $1,116,192.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SJM shares. JPMorgan Chase & Co. boosted their price target on shares of J. M. Smucker from $126.00 to $128.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. TD Cowen cut their price objective on shares of 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. Citigroup cut their price objective on shares of J. M. Smucker from $153.00 to $152.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Stifel Nicolaus raised shares of J. M. Smucker from a “hold” rating to a “buy” rating and set a $135.00 price objective on the stock in a research report on Wednesday, February 28th. Finally, DA Davidson started coverage on shares of J. M. Smucker in a research report on Friday, March 1st. They issued a “neutral” rating and a $132.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $137.47.

J. M. Smucker Trading Down 1.4 %

Shares of NYSE:SJM opened at $113.60 on Friday. The company’s 50-day moving average price is $120.10 and its two-hundred day moving average price is $120.65. 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 one year low of $107.33 and a one year high of $159.92. The stock has a market capitalization of $12.06 billion, a PE ratio of -129.09, a price-to-earnings-growth ratio of 1.81 and a beta of 0.21.

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

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be issued a $1.06 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.73%. J. M. Smucker’s payout ratio is -481.81%.

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.