Brandywine Global Investment Management LLC lowered its position in shares of J M Smucker Co (NYSE:SJM) by 81.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,250 shares of the company’s stock after selling 467,189 shares during the period. Brandywine Global Investment Management LLC’s holdings in J M Smucker were worth $9,653,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Howe & Rusling Inc. increased its stake in shares of J M Smucker by 218.3% during the fourth quarter. Howe & Rusling Inc. now owns 296 shares of the company’s stock worth $28,000 after purchasing an additional 203 shares during the period. Quantamental Technologies LLC bought a new position in shares of J M Smucker during the fourth quarter worth approximately $28,000. Meeder Asset Management Inc. bought a new position in shares of J M Smucker during the fourth quarter worth approximately $44,000. Private Capital Group LLC bought a new position in shares of J M Smucker during the fourth quarter worth approximately $50,000. Finally, Bremer Trust National Association bought a new position in shares of J M Smucker during the fourth quarter worth approximately $51,000. Institutional investors own 77.14% of the company’s stock.
A number of equities analysts have recently weighed in on SJM shares. Zacks Investment Research reiterated a “sell” rating on shares of J M Smucker in a research note on Monday, December 31st. Credit Suisse Group upgraded J M Smucker to a “hold” rating and set a $94.00 target price on the stock in a research note on Thursday, November 29th. ValuEngine lowered J M Smucker from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. Citigroup increased their target price on J M Smucker from $122.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Finally, Morgan Stanley lowered their target price on J M Smucker from $100.00 to $98.00 and set an “underweight” rating on the stock in a research note on Thursday, November 29th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $112.73.
In other J M Smucker news, SVP Jeannette L. Knudsen sold 1,932 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $102.86, for a total value of $198,725.52. Following the sale, the senior vice president now owns 24,292 shares of the company’s stock, valued at approximately $2,498,675.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David J. Lemmon sold 1,017 shares of the firm’s stock in a transaction on Monday, December 31st. The shares were sold at an average price of $92.99, for a total value of $94,570.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,966 shares of company stock worth $387,867. Corporate insiders own 3.92% of the company’s stock.
J M Smucker stock opened at $106.91 on Wednesday. J M Smucker Co has a one year low of $91.32 and a one year high of $127.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.44 and a current ratio of 0.95. The firm has a market cap of $12.23 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 2.22 and a beta of 0.55.
J M Smucker (NYSE:SJM) last posted its quarterly earnings data on Tuesday, February 26th. The company reported $2.26 EPS for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.24. J M Smucker had a return on equity of 11.61% and a net margin of 8.15%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the company earned $2.50 EPS. The company’s revenue was up 5.7% on a year-over-year basis. Equities research analysts expect that J M Smucker Co will post 8.13 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 15th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, February 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.18%. J M Smucker’s dividend payout ratio (DPR) is presently 42.71%.
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About J M Smucker
The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company primarily offers coffee, pet food and pet snacks, peanut butter, fruit spreads, shortening and oils, baking mixes and ready-to-spread frostings, frozen sandwiches, flour and baking ingredients, juices and beverages, and portion control products.
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