Swiss National Bank Has $40.01 Million Holdings in The J. M. Smucker Company (NYSE:SJM)

Swiss National Bank trimmed its holdings in The J. M. Smucker Company (NYSE:SJM) by 4.2% in the first quarter, Holdings Channel reports. The institutional investor owned 317,865 shares of the company’s stock after selling 13,900 shares during the period. Swiss National Bank’s holdings in J. M. Smucker were worth $40,010,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Comerica Bank acquired a new position in J. M. Smucker in the 3rd quarter valued at $5,522,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of J. M. Smucker by 364.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 609 shares of the company’s stock worth $77,000 after purchasing an additional 478 shares in the last quarter. DNB Asset Management AS increased its position in shares of J. M. Smucker by 1.4% in the fourth quarter. DNB Asset Management AS now owns 23,295 shares of the company’s stock worth $2,944,000 after purchasing an additional 313 shares during the period. Czech National Bank raised its stake in J. M. Smucker by 4.2% in the fourth quarter. Czech National Bank now owns 18,588 shares of the company’s stock valued at $2,349,000 after purchasing an additional 741 shares in the last quarter. Finally, Diversified Trust Co lifted its position in J. M. Smucker by 7.4% during the fourth quarter. Diversified Trust Co now owns 5,736 shares of the company’s stock worth $725,000 after purchasing an additional 395 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on SJM. Barclays decreased their target price 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. TD Cowen reduced their target price on J. M. Smucker from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, June 7th. DA Davidson dropped their target price on shares of J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating for the company in a report on Monday, June 10th. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Citigroup boosted their target price on shares of J. M. Smucker from $137.00 to $139.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, J. M. Smucker presently has a consensus rating of “Hold” and a consensus target price of $132.64.

J. M. Smucker Stock Up 2.2 %

Shares of NYSE:SJM traded up $2.45 during trading on Monday, reaching $115.61. 158,669 shares of the stock were exchanged, compared to its average volume of 1,257,345. The firm has a market cap of $12.28 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 2.26 and a beta of 0.25. The stock has a fifty day moving average of $111.47 and a two-hundred day moving average of $119.25. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.52 and a quick ratio of 0.25. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $153.94.

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

J. M. Smucker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.74%. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s payout ratio is presently 59.55%.

Insider Buying and Selling

In other J. M. Smucker news, CEO Mark T. Smucker sold 10,000 shares of the business’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 transaction, the chief executive officer now directly owns 78,757 shares in the company, valued at $8,675,871.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is owned by 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.