State of Alaska Department of Revenue Lowers Stock Position in The J. M. Smucker Company (NYSE:SJM)

State of Alaska Department of Revenue trimmed its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 15.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,712 shares of the company’s stock after selling 5,970 shares during the period. State of Alaska Department of Revenue’s holdings in J. M. Smucker were worth $4,117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SJM. Norges Bank purchased a new stake in J. M. Smucker during the 4th quarter worth $157,077,000. Ameriprise Financial Inc. boosted its position in 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 period. Nordea Investment Management AB boosted its position in 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 period. Point72 Asset Management L.P. boosted its position in J. M. Smucker by 21,858.1% during the 4th quarter. Point72 Asset Management L.P. now owns 680,700 shares of the company’s stock worth $86,027,000 after purchasing an additional 677,600 shares during the period. Finally, Vanguard Group Inc. boosted its position in J. M. Smucker by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock worth $1,702,515,000 after purchasing an additional 518,433 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at J. M. Smucker

In other J. M. Smucker news, CEO Mark T. Smucker sold 10,000 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $110.16, for a total value of $1,101,600.00. Following the completion of the transaction, the chief executive officer now owns 78,757 shares in the company, valued at approximately $8,675,871.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.50% of the company’s stock.

J. M. Smucker Price Performance

Shares of NYSE:SJM opened at $109.12 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.52 and a debt-to-equity ratio of 0.88. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $153.94. The firm has a 50-day simple moving average of $111.86 and a 200 day simple moving average of $119.90. The company has a market cap of $11.59 billion, a PE ratio of 15.33, a P/E/G ratio of 2.18 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Thursday, June 6th. The company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.34. J. M. Smucker had a net margin of 9.10% and a return on equity of 14.15%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm earned $2.64 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, sell-side analysts anticipate that The J. M. Smucker Company will post 10.06 EPS for the current year.

J. M. Smucker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date was Thursday, May 16th. J. M. Smucker’s dividend payout ratio is presently 59.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SJM. TD Cowen decreased their price target on shares of J. M. Smucker from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, June 7th. DA Davidson cut their price objective on shares of J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating on the stock in a report on Monday, June 10th. Argus cut their price objective on shares of J. M. Smucker from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, June 13th. Barclays cut their price objective on shares of J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Finally, Citigroup boosted their price objective on shares of J. M. Smucker from $137.00 to $139.00 and gave the stock a “buy” rating in a report on Friday, June 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $132.64.

J. M. Smucker Company 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.