Swedbank AB Purchases 27,272 Shares of The J. M. Smucker Company $SJM

Swedbank AB raised its position in The J. M. Smucker Company (NYSE:SJM) by 17.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 180,595 shares of the company’s stock after acquiring an additional 27,272 shares during the period. Swedbank AB’s holdings in J. M. Smucker were worth $17,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. UBS Group AG raised its stake in shares of J. M. Smucker by 238.7% in the fourth quarter. UBS Group AG now owns 3,924,282 shares of the company’s stock valued at $383,834,000 after buying an additional 2,765,559 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of J. M. Smucker by 10.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,541,357 shares of the company’s stock valued at $275,982,000 after buying an additional 239,586 shares during the period. ProShare Advisors LLC raised its stake in shares of J. M. Smucker by 13.8% in the third quarter. ProShare Advisors LLC now owns 1,562,259 shares of the company’s stock valued at $169,661,000 after buying an additional 188,868 shares during the period. Two Sigma Investments LP raised its stake in shares of J. M. Smucker by 6,854.4% in the third quarter. Two Sigma Investments LP now owns 1,527,962 shares of the company’s stock valued at $165,937,000 after buying an additional 1,505,991 shares during the period. Finally, National Bank of Canada FI raised its stake in shares of J. M. Smucker by 797.4% in the third quarter. National Bank of Canada FI now owns 1,401,173 shares of the company’s stock valued at $152,167,000 after buying an additional 1,245,035 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wall Street Zen lowered J. M. Smucker from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. BNP Paribas Exane set a $125.00 price objective on J. M. Smucker in a research note on Thursday, April 9th. TD Cowen decreased their price objective on J. M. Smucker from $124.00 to $113.00 and set a “hold” rating on the stock in a research note on Thursday, March 19th. Stifel Nicolaus decreased their price objective on J. M. Smucker from $120.00 to $100.00 and set a “hold” rating on the stock in a research note on Tuesday, April 21st. Finally, Sanford C. Bernstein decreased their price objective on J. M. Smucker from $145.00 to $134.00 and set an “outperform” rating on the stock in a research note on Monday. Ten analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $116.56.

J. M. Smucker Stock Performance

NYSE:SJM opened at $99.18 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.35 and a current ratio of 0.84. The J. M. Smucker Company has a 52-week low of $88.25 and a 52-week high of $119.39. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of -8.41, a PEG ratio of 3.99 and a beta of 0.25. The business’s fifty day moving average is $99.98 and its 200 day moving average is $102.25.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Thursday, February 26th. The company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.11. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.32 billion. J. M. Smucker had a positive return on equity of 15.94% and a negative net margin of 14.07%.The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.61 EPS. Research analysts predict that The J. M. Smucker Company will post 9.04 EPS for the current year.

J. M. Smucker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Friday, May 15th. J. M. Smucker’s dividend payout ratio is currently -37.32%.

About J. M. Smucker

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company’s main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker’s core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker’s® fruit spreads, Jif® peanut butter, Folgers® and Dunkin’® coffees, and Café Bustelo® coffee.