Massachusetts Financial Services Co. MA Decreases Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Massachusetts Financial Services Co. MA lowered its stake in shares of The J. M. Smucker Company (NYSE:SJMFree Report) by 22.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,420,762 shares of the company’s stock after selling 409,812 shares during the period. Massachusetts Financial Services Co. MA owned about 1.39% of J. M. Smucker worth $174,626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Intrepid Capital Management Inc. acquired a new position in shares of J. M. Smucker in the second quarter valued at approximately $26,000. Eagle Bay Advisors LLC acquired a new position in shares of J. M. Smucker in the second quarter valued at approximately $27,000. Clear Street Markets LLC raised its position in shares of J. M. Smucker by 97.2% in the first quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock valued at $33,000 after buying an additional 104 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of J. M. Smucker in the first quarter valued at approximately $33,000. Finally, West Tower Group LLC acquired a new position in shares of J. M. Smucker in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Insider Activity at J. M. Smucker

In other news, Director Tarang Amin purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were acquired at an average cost of $125.05 per share, for a total transaction of $125,050.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $125,050. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Tarang Amin bought 1,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were purchased at an average cost of $125.05 per share, for a total transaction of $125,050.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $125,050. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Tucker H. Marshall sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $124.53, for a total transaction of $186,795.00. Following the sale, the chief financial officer now owns 10,126 shares in the company, valued at $1,260,990.78. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by corporate insiders.

J. M. Smucker Stock Performance

SJM stock opened at $132.21 on Wednesday. The stock has a market cap of $14.03 billion, a P/E ratio of -2,203.50, a P/E/G ratio of 2.15 and a beta of 0.24. The firm has a 50 day simple moving average of $125.95 and a 200 day simple moving average of $127.17. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.61 and a current ratio of 3.20. The J. M. Smucker Company has a 52 week low of $107.33 and a 52 week high of $159.92.

J. M. Smucker (NYSE:SJMGet Free Report) last released its quarterly earnings results on Tuesday, December 5th. The company reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.12. J. M. Smucker had a negative net margin of 0.17% and a positive return on equity of 13.57%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm posted $2.40 earnings per share. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. Research analysts anticipate that The J. M. Smucker Company will post 9.52 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 16th will be given a dividend of $1.06 per share. The ex-dividend date is Thursday, February 15th. This represents a $4.24 dividend on an annualized basis and a yield of 3.21%. J. M. Smucker’s payout ratio is presently -7,066.67%.

Wall Street Analyst Weigh In

SJM has been the subject of several research analyst reports. Sanford C. Bernstein raised shares of J. M. Smucker from an “underperform” rating to a “market perform” rating and dropped their price target for the stock from $123.00 to $119.00 in a research report on Tuesday, November 14th. TD Cowen upped their price target on shares of J. M. Smucker from $133.00 to $136.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 6th. Stifel Nicolaus increased their price objective on shares of J. M. Smucker from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Citigroup began coverage on shares of J. M. Smucker in a research note on Thursday, February 1st. They issued a “buy” rating and a $153.00 target price for the company. Finally, Wells Fargo & Company began coverage on shares of J. M. Smucker in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $140.00 target price for the company. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $138.07.

Read Our Latest Stock Report on SJM

About J. M. Smucker

(Free Report)

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.

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

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