Assenagon Asset Management S.A. Buys 78,598 Shares of The J. M. Smucker Company (NYSE:SJM)

Assenagon Asset Management S.A. lifted its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 388.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,830 shares of the company’s stock after purchasing an additional 78,598 shares during the quarter. Assenagon Asset Management S.A. owned about 0.09% of J. M. Smucker worth $12,490,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in J. M. Smucker by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 12,721,847 shares of the company’s stock valued at $1,722,666,000 after acquiring an additional 162,944 shares in the last quarter. BlackRock Inc. lifted its position in J. M. Smucker by 6.3% in the 2nd quarter. BlackRock Inc. now owns 10,001,040 shares of the company’s stock valued at $1,476,854,000 after acquiring an additional 593,263 shares in the last quarter. Geode Capital Management LLC lifted its position in J. M. Smucker by 1.4% in the 1st quarter. Geode Capital Management LLC now owns 2,284,534 shares of the company’s stock valued at $358,727,000 after acquiring an additional 31,412 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in J. M. Smucker by 85,116.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,102,297 shares of the company’s stock valued at $333,130,000 after acquiring an additional 2,099,830 shares in the last quarter. Finally, Invesco Ltd. lifted its position in J. M. Smucker by 8.3% in the 1st quarter. Invesco Ltd. now owns 1,820,578 shares of the company’s stock valued at $246,525,000 after acquiring an additional 139,158 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Insider Transactions at J. M. Smucker

In related news, insider Jeannette L. Knudsen sold 3,200 shares of J. M. Smucker stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $124.77, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SJM. Morgan Stanley reaffirmed an “equal weight” rating and issued a $122.00 price target on shares of J. M. Smucker in a research report on Wednesday, December 6th. Wells Fargo & Company assumed coverage on shares of J. M. Smucker in a research report on Tuesday, December 12th. They issued an “overweight” rating and a $140.00 price target on the stock. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Saturday, March 23rd. TD Cowen lifted their target price 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. Finally, Citigroup dropped their target price 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. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $137.20.

J. M. Smucker Trading Up 0.1 %

Shares of SJM stock opened at $125.83 on Friday. The company has a 50 day moving average of $125.94 and a 200-day moving average of $121.88. The company has a quick ratio of 0.38, a current ratio of 0.78 and a debt-to-equity ratio of 1.07. The J. M. Smucker Company has a 12-month low of $107.33 and a 12-month high of $159.92. The firm has a market cap of $13.36 billion, a P/E ratio of -142.99, a PEG ratio of 2.01 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.21. J. M. Smucker had a negative net margin of 1.24% and a positive return on equity of 14.29%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the business posted $2.21 EPS. J. M. Smucker’s quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a dividend of $1.06 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $4.24 annualized dividend and a dividend yield of 3.37%. J. M. Smucker’s payout ratio is currently -481.81%.

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.