DNB Asset Management AS Has $2.45 Million Holdings in The J. M. Smucker Company (NYSE:SJM)

DNB Asset Management AS grew its stake in The J. M. Smucker Company (NYSE:SJM) by 5.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,476 shares of the company’s stock after purchasing an additional 1,159 shares during the period. DNB Asset Management AS’s holdings in J. M. Smucker were worth $2,451,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SJM. Arizona State Retirement System grew its position in J. M. Smucker by 4.8% in the 4th quarter. Arizona State Retirement System now owns 29,166 shares of the company’s stock worth $3,686,000 after purchasing an additional 1,325 shares during the last quarter. Chevy Chase Trust Holdings LLC grew its position in J. M. Smucker by 3.4% in the 4th quarter. Chevy Chase Trust Holdings LLC now owns 60,392 shares of the company’s stock worth $7,632,000 after purchasing an additional 1,989 shares during the last quarter. International Assets Investment Management LLC grew its position in 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 worth $42,214,000 after purchasing an additional 331,417 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of J. M. Smucker by 5.8% during the 4th quarter. Allworth Financial LP now owns 2,646 shares of the company’s stock worth $334,000 after acquiring an additional 144 shares during the period. Finally, Meeder Advisory Services Inc. lifted its holdings in shares of J. M. Smucker by 22.3% during the 4th quarter. Meeder Advisory Services Inc. now owns 2,257 shares of the company’s stock worth $285,000 after acquiring an additional 412 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SJM has been the subject of a number of analyst reports. TD Cowen reduced their price objective on shares of J. M. Smucker from $140.00 to $135.00 and set a “buy” rating for the company in a report on Friday, June 7th. DA Davidson reduced their price objective on shares of J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating for the company in a report on Monday, June 10th. Argus reduced their price objective on shares of J. M. Smucker from $150.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, June 13th. StockNews.com downgraded shares of J. M. Smucker from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Finally, Barclays cut their price target on shares of J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $132.64.

J. M. Smucker Trading Down 1.6 %

Shares of NYSE:SJM traded down $1.94 during trading on Tuesday, hitting $118.94. 881,790 shares of the company’s stock were exchanged, compared to its average volume of 1,252,667. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $150.08. The firm has a 50-day moving average price of $113.11 and a two-hundred day moving average price of $118.09. The company has a current ratio of 0.52, a quick ratio of 0.25 and a debt-to-equity ratio of 0.88. The firm has a market cap of $12.63 billion, a P/E ratio of 16.98, a PEG ratio of 2.45 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Thursday, June 6th. The company reported $2.66 EPS for the quarter, topping the consensus estimate of $2.32 by $0.34. J. M. Smucker had a net margin of 9.10% and a return on equity of 14.15%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the company earned $2.64 EPS. J. M. Smucker’s revenue was down 1.3% on a year-over-year basis. Equities analysts predict that The J. M. Smucker Company will post 10.06 earnings per share for the current year.

J. M. Smucker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be issued a dividend of $1.08 per share. The ex-dividend date is Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.63%. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s payout ratio is currently 59.55%.

Insider Activity at J. M. Smucker

In related news, CEO Mark T. Smucker sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the completion of the transaction, the chief executive officer now owns 78,757 shares in the company, valued at $8,675,871.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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.