Envestnet Asset Management Inc. Trims Holdings in The J. M. Smucker Company (NYSE:SJM)

Envestnet Asset Management Inc. cut its stake in The J. M. Smucker Company (NYSE:SJMGet Rating) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 196,334 shares of the company’s stock after selling 2,604 shares during the quarter. Envestnet Asset Management Inc. owned about 0.18% of J. M. Smucker worth $26,586,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. State Street Corp grew its position in J. M. Smucker by 7.5% during the fourth quarter. State Street Corp now owns 8,032,129 shares of the company’s stock worth $1,090,924,000 after buying an additional 561,132 shares in the last quarter. Stifel Financial Corp grew its position in J. M. Smucker by 4.5% during the fourth quarter. Stifel Financial Corp now owns 2,506,127 shares of the company’s stock worth $340,383,000 after buying an additional 107,678 shares in the last quarter. Geode Capital Management LLC grew its position in J. M. Smucker by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 2,120,286 shares of the company’s stock worth $287,268,000 after buying an additional 123,104 shares in the last quarter. Ariel Investments LLC grew its position in J. M. Smucker by 7.9% during the fourth quarter. Ariel Investments LLC now owns 1,490,218 shares of the company’s stock worth $202,402,000 after buying an additional 109,723 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in J. M. Smucker by 8,965.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 1,024,047 shares of the company’s stock worth $139,086,000 after buying an additional 1,012,751 shares in the last quarter. 83.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Consumer Edge cut J. M. Smucker from an “equal weight” rating to an “underweight” rating in a research report on Thursday, June 16th. Citigroup boosted their target price on J. M. Smucker to $137.00 in a research report on Thursday, June 9th. UBS Group upped their price objective on J. M. Smucker to $124.00 in a report on Thursday, June 9th. Deutsche Bank Aktiengesellschaft cut their price objective on J. M. Smucker from $133.00 to $131.00 in a report on Wednesday, June 8th. Finally, Credit Suisse Group set a $140.00 price objective on J. M. Smucker in a report on Tuesday, July 19th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $133.18.

J. M. Smucker Stock Up 1.3 %

Shares of NYSE SJM opened at $134.05 on Tuesday. The company has a market cap of $14.54 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 13.85 and a beta of 0.25. The company has a quick ratio of 0.47, a current ratio of 1.03 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average is $128.38 and its 200 day moving average is $133.78. The J. M. Smucker Company has a 52 week low of $118.55 and a 52 week high of $146.74.

J. M. Smucker (NYSE:SJMGet Rating) last issued its quarterly earnings data on Tuesday, June 7th. The company reported $2.23 EPS for the quarter, beating the consensus estimate of $1.88 by $0.35. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.98 billion. J. M. Smucker had a net margin of 7.90% and a return on equity of 11.71%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.89 earnings per share. On average, equities research analysts expect that The J. M. Smucker Company will post 8.31 earnings per share for the current year.

J. M. Smucker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 12th will be paid a dividend of $1.02 per share. The ex-dividend date is Thursday, August 11th. This is a boost from J. M. Smucker’s previous quarterly dividend of $0.99. This represents a $4.08 annualized dividend and a dividend yield of 3.04%. J. M. Smucker’s payout ratio is 67.92%.

J. M. Smucker Company Profile

(Get Rating)

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, shortening and oils, and 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.

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Institutional Ownership by Quarter for J. M. Smucker (NYSE:SJM)

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