Assenagon Asset Management S.A. lowered its holdings in The J. M. Smucker Company (NYSE:SJM – Get Rating) by 82.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,835 shares of the company’s stock after selling 64,371 shares during the period. Assenagon Asset Management S.A.’s holdings in J. M. Smucker were worth $2,192,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Klaas Financial Asset Advisors LLC purchased a new position in J. M. Smucker in the third quarter valued at about $27,000. Center for Financial Planning Inc. raised its stake in J. M. Smucker by 20,000.0% during the third quarter. Center for Financial Planning Inc. now owns 201 shares of the company’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in J. M. Smucker during the second quarter valued at approximately $27,000. Guardian Wealth Advisors LLC acquired a new stake in J. M. Smucker during the third quarter valued at approximately $29,000. Finally, Cowa LLC acquired a new stake in J. M. Smucker during the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 79.21% of the company’s stock.
J. M. Smucker Price Performance
Shares of NYSE SJM opened at $156.46 on Wednesday. The J. M. Smucker Company has a fifty-two week low of $119.82 and a fifty-two week high of $163.07. The firm’s 50-day simple moving average is $150.27 and its 200 day simple moving average is $149.25. The company has a quick ratio of 0.45, a current ratio of 1.16 and a debt-to-equity ratio of 0.52. The stock has a market cap of $16.68 billion, a P/E ratio of 23.56, a P/E/G ratio of 4.46 and a beta of 0.21.
J. M. Smucker Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Thursday, February 9th. J. M. Smucker’s dividend payout ratio is currently 61.45%.
Insiders Place Their Bets
In other J. M. Smucker news, insider Jeannette L. Knudsen sold 10,000 shares of the business’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $153.96, for a total value of $1,539,600.00. Following the sale, the insider now directly owns 17,561 shares in the company, valued at $2,703,691.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other J. M. Smucker news, Director Richard K. Smucker sold 26,294 shares of the business’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $150.04, for a total value of $3,945,151.76. Following the sale, the director now directly owns 629,282 shares in the company, valued at $94,417,471.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeannette L. Knudsen sold 10,000 shares of the business’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $153.96, for a total transaction of $1,539,600.00. Following the completion of the sale, the insider now owns 17,561 shares in the company, valued at $2,703,691.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,462 shares of company stock worth $18,744,753. 3.70% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several brokerages have issued reports on SJM. Argus upgraded J. M. Smucker from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Monday. Stifel Nicolaus upped their price objective on J. M. Smucker from $148.00 to $155.00 in a research note on Thursday, December 15th. Morgan Stanley upgraded J. M. Smucker from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $135.00 to $158.00 in a research note on Tuesday, December 20th. UBS Group upgraded J. M. Smucker from a “sell” rating to a “neutral” rating and increased their price target for the stock from $132.00 to $155.00 in a research report on Friday, February 10th. Finally, Credit Suisse Group increased their price target on J. M. Smucker from $145.00 to $165.00 in a research report on Thursday, December 15th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $152.09.
J. M. Smucker Profile
The J. M. Smucker Co engages in the manufacture and marketing of food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes domestic sales of Folgers, Dunkin’ Donuts, and Café Bustelo branded coffee.
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