Acadian Asset Management LLC Grows Position in The J. M. Smucker Company (NYSE:SJM)

Acadian Asset Management LLC raised its position in The J. M. Smucker Company (NYSE:SJM) by 342.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,468 shares of the company’s stock after purchasing an additional 3,459 shares during the quarter. Acadian Asset Management LLC’s holdings in J. M. Smucker were worth $485,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in shares of J. M. Smucker in the fourth quarter worth approximately $43,000. Principal Financial Group Inc. lifted its position in shares of J. M. Smucker by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 140,347 shares of the company’s stock worth $17,737,000 after purchasing an additional 4,172 shares during the last quarter. ING Groep NV purchased a new stake in shares of J. M. Smucker during the fourth quarter valued at $1,836,000. Norges Bank bought a new position in shares of J. M. Smucker in the fourth quarter worth about $157,077,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in J. M. Smucker by 1.2% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,702 shares of the company’s stock worth $1,100,000 after buying an additional 104 shares during the period. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Price Performance

SJM opened at $120.48 on Thursday. The firm has a market capitalization of $12.79 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 3.20 and a beta of 0.24. 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 business’s 50-day moving average is $118.40 and its two-hundred day moving average is $116.16. 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 quarterly earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.27. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same period last year, the business earned $2.21 EPS. Research analysts anticipate that The J. M. Smucker Company will post 9.82 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, August 16th. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.59%. J. M. Smucker’s dividend payout ratio is presently 60.67%.

Insider Activity

In related news, CEO Mark T. Smucker sold 10,000 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the transaction, the chief executive officer now directly owns 78,757 shares of the company’s stock, valued at approximately $8,675,871.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. Citigroup lowered their price target on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Wells Fargo & Company reduced their price objective on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Barclays lowered their target price on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. Finally, TD Cowen cut 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, J. M. Smucker has an average rating of “Hold” and a consensus target price of $127.25.

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.