3,279 Shares in The J. M. Smucker Company (NYSE:SJM) Purchased by Allstate Corp

Allstate Corp bought a new stake in The J. M. Smucker Company (NYSE:SJM) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 3,279 shares of the company’s stock, valued at approximately $361,000.

Several other hedge funds also recently bought and sold shares of the stock. Maridea Wealth Management LLC acquired a new position in shares of J. M. Smucker in the 4th quarter worth approximately $295,000. DnB Asset Management AS lifted its stake in J. M. Smucker by 2.6% during the fourth quarter. DnB Asset Management AS now owns 25,236 shares of the company’s stock worth $2,779,000 after purchasing an additional 630 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of J. M. Smucker by 13.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 64,092 shares of the company’s stock worth $7,058,000 after buying an additional 7,825 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of J. M. Smucker by 9.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 368,322 shares of the company’s stock valued at $40,560,000 after buying an additional 32,163 shares in the last quarter. Finally, Boussard & Gavaudan Investment Management LLP purchased a new stake in shares of J. M. Smucker in the 4th quarter valued at $1,695,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SJM shares. DA Davidson lowered their target price on J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Stifel Nicolaus dropped 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 report on Friday, January 24th. TD Cowen lowered 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 report on Wednesday, January 8th. Morgan Stanley started coverage on shares of J. M. Smucker in a research note on Monday, March 24th. They issued an “overweight” rating and a $123.00 price target for the company. Finally, StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $125.67.

Insider Activity

In other news, insider Jill R. Penrose sold 5,117 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $116.26, for a total value of $594,902.42. Following the completion of the sale, the insider now directly owns 8,794 shares of the company’s stock, valued at approximately $1,022,390.44. The trade was a 36.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tucker H. Marshall sold 5,028 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $113.36, for a total value of $569,974.08. Following the completion of the sale, the chief financial officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

J. M. Smucker Stock Performance

Shares of SJM stock opened at $118.44 on Thursday. The company has a market cap of $12.60 billion, a P/E ratio of 23.98, a PEG ratio of 3.91 and a beta of 0.28. The firm has a fifty day moving average price of $109.16 and a 200 day moving average price of $112.20. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89. The J. M. Smucker Company has a 12 month low of $98.77 and a 12 month high of $125.42.

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. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.23 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. Sell-side analysts predict that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders 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 annualized dividend and a dividend yield of 3.65%. J. M. Smucker’s dividend payout ratio is presently -179.25%.

J. M. Smucker 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.