Callodine Capital Management LP Acquires Shares of 20,436 J M Smucker Co (SJM)

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Callodine Capital Management LP acquired a new stake in shares of J M Smucker Co (NYSE:SJM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 20,436 shares of the company’s stock, valued at approximately $1,911,000. J M Smucker comprises 1.4% of Callodine Capital Management LP’s holdings, making the stock its 24th biggest holding.

A number of other large investors also recently made changes to their positions in SJM. Vanguard Group Inc grew its holdings in shares of J M Smucker by 2.2% in the third quarter. Vanguard Group Inc now owns 13,334,759 shares of the company’s stock worth $1,368,280,000 after acquiring an additional 293,331 shares during the period. BlackRock Inc. grew its holdings in shares of J M Smucker by 7.4% in the fourth quarter. BlackRock Inc. now owns 10,239,722 shares of the company’s stock worth $957,309,000 after acquiring an additional 708,976 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of J M Smucker by 12,668.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,351,461 shares of the company’s stock worth $57,000 after acquiring an additional 5,309,548 shares during the period. Bank of America Corp DE grew its holdings in shares of J M Smucker by 312.2% in the fourth quarter. Bank of America Corp DE now owns 4,351,714 shares of the company’s stock worth $406,843,000 after acquiring an additional 3,295,923 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of J M Smucker by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,792,424 shares of the company’s stock worth $167,581,000 after acquiring an additional 13,573 shares during the period. Institutional investors and hedge funds own 77.14% of the company’s stock.

In other J M Smucker news, Director Kathryn W. Dindo acquired 500 shares of the stock in a transaction dated Thursday, December 27th. The shares were acquired at an average cost of $92.20 per share, for a total transaction of $46,100.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David J. Lemmon sold 1,017 shares of the business’s stock in a transaction dated 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. Insiders sold 3,966 shares of company stock worth $387,867 over the last 90 days. Company insiders own 3.92% of the company’s stock.

Several equities analysts recently weighed in on SJM shares. Zacks Investment Research downgraded J M Smucker from a “hold” rating to a “sell” rating in a research report on Monday, January 21st. Jefferies Financial Group set a $125.00 target price on J M Smucker and gave the company a “buy” rating in a research report on Wednesday, November 28th. Credit Suisse Group upgraded J M Smucker to a “hold” rating and set a $94.00 target price on the stock in a research report on Thursday, November 29th. Finally, ValuEngine downgraded J M Smucker from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $112.73.

NYSE SJM opened at $111.59 on Friday. The firm has a market cap of $12.18 billion, a P/E ratio of 14.02, a P/E/G ratio of 2.25 and a beta of 0.55. The company has a current ratio of 0.95, a quick ratio of 0.44 and a debt-to-equity ratio of 0.66. J M Smucker Co has a fifty-two week low of $91.32 and a fifty-two week high of $126.86.

J M Smucker (NYSE:SJM) last released its earnings results on Tuesday, February 26th. The company reported $2.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.24. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. J M Smucker had a return on equity of 11.61% and a net margin of 8.15%. J M Smucker’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.50 earnings per share. On average, equities research analysts anticipate that J M Smucker Co will post 8.13 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 15th were given a $0.85 dividend. The ex-dividend date was Thursday, February 14th. This represents a $3.40 annualized dividend and a dividend yield of 3.05%. J M Smucker’s payout ratio is 42.71%.

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J M Smucker Company Profile

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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Institutional Ownership by Quarter for J M Smucker (NYSE:SJM)

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