State of New Jersey Common Pension Fund D Decreases Stake in The J. M. Smucker Company (NYSE:SJM)

State of New Jersey Common Pension Fund D decreased its holdings in The J. M. Smucker Company (NYSE:SJM) by 4.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 36,935 shares of the company’s stock after selling 1,565 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in J. M. Smucker were worth $4,067,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Philip James Wealth Mangement LLC lifted its holdings in shares of J. M. Smucker by 302.3% during the 4th quarter. Philip James Wealth Mangement LLC now owns 8,190 shares of the company’s stock valued at $902,000 after acquiring an additional 6,154 shares in the last quarter. Hourglass Capital LLC raised its position in J. M. Smucker by 5.9% in the fourth quarter. Hourglass Capital LLC now owns 30,380 shares of the company’s stock valued at $3,345,000 after purchasing an additional 1,700 shares during the period. Allworth Financial LP lifted its stake in shares of J. M. Smucker by 373.8% during the fourth quarter. Allworth Financial LP now owns 8,812 shares of the company’s stock worth $900,000 after purchasing an additional 6,952 shares in the last quarter. Manchester Capital Management LLC boosted its position in shares of J. M. Smucker by 31.5% in the fourth quarter. Manchester Capital Management LLC now owns 1,227 shares of the company’s stock worth $135,000 after buying an additional 294 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in shares of J. M. Smucker by 1.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 73,222 shares of the company’s stock worth $8,100,000 after buying an additional 1,303 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

J. M. Smucker Price Performance

Shares of SJM stock opened at $102.88 on Thursday. The firm has a fifty day moving average of $106.45 and a two-hundred day moving average of $113.59. The firm has a market cap of $10.95 billion, a P/E ratio of 20.83, a P/E/G ratio of 3.29 and a beta of 0.27. The J. M. Smucker Company has a 1-year low of $98.77 and a 1-year high of $127.59. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the firm earned $2.59 earnings per share. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, research analysts anticipate that The J. M. Smucker Company will post 9.89 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Friday, February 14th. J. M. Smucker’s dividend payout ratio is currently 87.45%.

Insider Buying and Selling

In other J. M. Smucker news, CFO Tucker H. Marshall sold 994 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $113.00, for a total transaction of $112,322.00. Following the sale, the chief financial officer now directly owns 18,734 shares of the company’s stock, valued at approximately $2,116,942. This represents a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on SJM. Wells Fargo & Company raised their target price on J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. TD Cowen cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and reduced their target price for the stock from $130.00 to $121.00 in a research report on Wednesday, January 8th. Barclays decreased their target price on shares of J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus dropped their price target on shares of J. M. Smucker from $125.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $126.78.

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.