Resonant Capital Advisors LLC Reduces Position in The J. M. Smucker Company (NYSE:SJM)

Resonant Capital Advisors LLC cut its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,235 shares of the company’s stock after selling 575 shares during the quarter. Resonant Capital Advisors LLC’s holdings in J. M. Smucker were worth $1,799,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SJM. Moneta Group Investment Advisors LLC boosted its holdings in J. M. Smucker by 85,116.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,102,297 shares of the company’s stock valued at $333,130,000 after purchasing an additional 2,099,830 shares during the last quarter. Norges Bank purchased a new stake in J. M. Smucker in the fourth quarter valued at $219,033,000. Ameriprise Financial Inc. boosted its holdings in J. M. Smucker by 487.5% in the third quarter. Ameriprise Financial Inc. now owns 1,459,200 shares of the company’s stock valued at $178,961,000 after purchasing an additional 1,210,837 shares during the last quarter. Nordea Investment Management AB boosted its holdings in J. M. Smucker by 363.8% in the fourth quarter. Nordea Investment Management AB now owns 1,274,015 shares of the company’s stock valued at $160,258,000 after purchasing an additional 999,315 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in J. M. Smucker by 12,722.3% in the fourth quarter. International Assets Investment Management LLC now owns 334,022 shares of the company’s stock valued at $42,214,000 after purchasing an additional 331,417 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on SJM. Barclays upped their price target on shares of J. M. Smucker from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. increased their target price on shares of J. M. Smucker from $126.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Stifel Nicolaus raised shares of J. M. Smucker from a “hold” rating to a “buy” rating and set a $135.00 target price on the stock in a research note on Wednesday, February 28th. TD Cowen lowered their target price on shares of J. M. Smucker from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Finally, DA Davidson assumed coverage on shares of J. M. Smucker in a research note on Friday, March 1st. They set a “neutral” rating and a $132.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, J. M. Smucker has a consensus rating of “Hold” and an average target price of $137.47.

J. M. Smucker Stock Up 3.3 %

SJM opened at $114.76 on Friday. The J. M. Smucker Company has a twelve month low of $107.33 and a twelve month high of $159.92. 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 company has a 50-day moving average price of $121.08 and a 200 day moving average price of $120.65. The company has a market cap of $12.19 billion, a PE ratio of -130.41, a price-to-earnings-growth ratio of 1.77 and a beta of 0.21.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Tuesday, February 27th. The company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.21. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.22 billion. J. M. Smucker had a negative net margin of 1.24% and a positive return on equity of 14.29%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.21 EPS. Sell-side analysts expect that The J. M. Smucker Company will post 9.6 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be issued a $1.06 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.24 dividend on an annualized basis and a yield of 3.69%. J. M. Smucker’s payout ratio is -481.81%.

Insider Buying and Selling at J. M. Smucker

In other J. M. Smucker news, insider Jeannette L. Knudsen sold 3,200 shares of the stock in a transaction dated 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 sale, the insider now owns 8,946 shares in the company, valued at approximately $1,116,192.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is owned by insiders.

J. M. Smucker 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.