Stock Yards Bank & Trust Co. Trims Position in The J. M. Smucker Company (NYSE:SJM)

Stock Yards Bank & Trust Co. trimmed its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,398 shares of the company’s stock after selling 815 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in J. M. Smucker were worth $1,567,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SJM. Ameriprise Financial Inc. increased its position in shares of J. M. Smucker by 487.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,459,200 shares of the company’s stock worth $178,961,000 after purchasing an additional 1,210,837 shares during the last quarter. Nordea Investment Management AB increased its position in shares of J. M. Smucker by 363.8% during the 4th quarter. Nordea Investment Management AB now owns 1,274,015 shares of the company’s stock worth $160,258,000 after purchasing an additional 999,315 shares during the last quarter. International Assets Investment Management LLC grew its position in J. M. Smucker by 12,722.3% in the 4th quarter. International Assets Investment Management LLC now owns 334,022 shares of the company’s stock valued at $42,214,000 after acquiring an additional 331,417 shares in the last quarter. FMR LLC grew its position in J. M. Smucker by 32.2% in the 3rd quarter. FMR LLC now owns 646,827 shares of the company’s stock valued at $79,501,000 after acquiring an additional 157,443 shares in the last quarter. Finally, Invesco Ltd. grew its position in J. M. Smucker by 9.3% in the 3rd quarter. Invesco Ltd. now owns 1,777,750 shares of the company’s stock valued at $218,503,000 after acquiring an additional 151,389 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on SJM. Barclays lifted their target price on J. M. Smucker from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on J. M. Smucker from $126.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Citigroup dropped their target price on J. M. Smucker from $153.00 to $152.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. DA Davidson began coverage on J. M. Smucker in a research report on Friday, March 1st. They issued a “neutral” rating and a $132.00 target price for the company. Finally, Stifel Nicolaus raised J. M. Smucker from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a research report on Wednesday, February 28th. 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, the company presently has a consensus rating of “Hold” and a consensus target price of $137.47.

J. M. Smucker Price Performance

SJM stock opened at $117.46 on Tuesday. The business has a 50 day moving average price of $120.83 and a 200 day moving average price of $120.66. The stock has a market cap of $12.47 billion, a price-to-earnings ratio of -133.48, a PEG ratio of 1.83 and a beta of 0.21. The J. M. Smucker Company has a fifty-two week low of $107.33 and a fifty-two week 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.

J. M. Smucker (NYSE:SJM) last posted its 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 analysts’ expectations of $2.22 billion. J. M. Smucker had a positive return on equity of 14.29% and a negative net margin of 1.24%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.21 earnings per share. Equities research analysts anticipate that The J. M. Smucker Company will post 9.6 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Thursday, May 16th. J. M. Smucker’s dividend payout ratio is currently -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 business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was 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 $1,116,192.42. The sale was disclosed in a document filed with the SEC, which is available through this link. 3.50% of the stock is owned by company insiders.

About J. M. Smucker

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.