The J. M. Smucker Company (NYSE:SJM) Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. lessened its stake in The J. M. Smucker Company (NYSE:SJM) by 36.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 230,094 shares of the company’s stock after selling 131,000 shares during the quarter. APG Asset Management N.V. owned about 0.22% of J. M. Smucker worth $23,410,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ariel Investments LLC increased its position in J. M. Smucker by 56.0% during the second quarter. Ariel Investments LLC now owns 1,354,999 shares of the company’s stock worth $147,749,000 after purchasing an additional 486,624 shares during the last quarter. Armistice Capital LLC purchased a new stake in shares of J. M. Smucker in the 2nd quarter valued at approximately $368,000. AXA S.A. raised its position in shares of J. M. Smucker by 24.3% during the 2nd quarter. AXA S.A. now owns 82,596 shares of the company’s stock valued at $9,006,000 after buying an additional 16,171 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in shares of J. M. Smucker by 1,681.1% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,753 shares of the company’s stock valued at $627,000 after buying an additional 5,430 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in J. M. Smucker by 60.5% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 20,334 shares of the company’s stock worth $2,217,000 after acquiring an additional 7,662 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

SJM has been the topic of several recent analyst reports. TD Cowen decreased their price target on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. Barclays dropped their price target on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. Bank of America decreased their price objective on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, Wells Fargo & Company dropped their target price on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $127.25.

J. M. Smucker Price Performance

Shares of NYSE SJM opened at $121.15 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The company has a market cap of $12.87 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 3.11 and a beta of 0.24. The stock’s 50-day moving average is $118.93 and its two-hundred day moving average is $116.11. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62.

J. M. Smucker (NYSE:SJM) last released its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. Analysts forecast that The J. M. Smucker Company will post 9.82 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were given a dividend of $1.08 per share. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Friday, August 16th. J. M. Smucker’s payout ratio is 60.67%.

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.