Harbour Investments Inc. Buys 1,149 Shares of The J. M. Smucker Company (NYSE:SJM)

Harbour Investments Inc. boosted its holdings in The J. M. Smucker Company (NYSE:SJM) by 12.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,032 shares of the company’s stock after acquiring an additional 1,149 shares during the quarter. Harbour Investments Inc.’s holdings in J. M. Smucker were worth $1,105,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SJM. State Street Corp increased its stake in J. M. Smucker by 12.0% in the 3rd quarter. State Street Corp now owns 7,111,023 shares of the company’s stock worth $861,145,000 after buying an additional 762,746 shares in the last quarter. FMR LLC boosted its holdings in shares of J. M. Smucker by 40.0% during the 3rd quarter. FMR LLC now owns 3,353,996 shares of the company’s stock valued at $406,169,000 after purchasing an additional 958,142 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of J. M. Smucker by 16.5% during the 4th quarter. Nordea Investment Management AB now owns 1,361,902 shares of the company’s stock valued at $150,082,000 after purchasing an additional 192,748 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of J. M. Smucker by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,003,042 shares of the company’s stock valued at $110,455,000 after acquiring an additional 12,410 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of J. M. Smucker by 13.8% in the 4th quarter. Bank of New York Mellon Corp now owns 977,817 shares of the company’s stock valued at $107,677,000 after acquiring an additional 118,240 shares during the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

J. M. Smucker Trading Down 1.0 %

SJM stock opened at $110.78 on Wednesday. The company’s 50-day simple moving average is $106.65 and its 200-day simple moving average is $112.53. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The J. M. Smucker Company has a 52-week low of $98.77 and a 52-week high of $127.59. The firm has a market cap of $11.79 billion, a P/E ratio of 22.43, a PEG ratio of 3.91 and a beta of 0.28.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Thursday, February 27th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.24. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.23 billion. As a group, equities analysts forecast that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $1.08 per share. The ex-dividend date was Friday, February 14th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.90%. J. M. Smucker’s payout ratio is currently -179.25%.

Insider Buying and Selling

In related news, CFO Tucker H. Marshall sold 5,028 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $113.36, for a total transaction of $569,974.08. Following the completion of the transaction, the chief financial officer now owns 13,263 shares of the company’s stock, valued at approximately $1,503,493.68. This trade represents a 27.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Barclays decreased their price objective on shares of J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. TD Cowen downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $130.00 to $121.00 in a research note on Wednesday, January 8th. Stifel Nicolaus decreased their price objective on shares of J. M. Smucker from $125.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Finally, DA Davidson reduced their target price on shares of J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat, J. M. Smucker presently has an average rating of “Hold” and a consensus target price of $126.00.

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.