Northern Trust Corp raised its position in shares of J M Smucker Co (NYSE:SJM) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,480,323 shares of the company’s stock after purchasing an additional 26,589 shares during the period. Northern Trust Corp’s holdings in J M Smucker were worth $172,457,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc raised its position in shares of J M Smucker by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 13,334,759 shares of the company’s stock worth $1,368,280,000 after acquiring an additional 293,331 shares in the last quarter. BlackRock Inc. boosted its position in J M Smucker by 7.4% during the fourth quarter. BlackRock Inc. now owns 10,239,722 shares of the company’s stock worth $957,309,000 after purchasing an additional 708,976 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in J M Smucker by 12,668.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,351,461 shares of the company’s stock worth $57,000 after purchasing an additional 5,309,548 shares in the last quarter. Bank of America Corp DE boosted its position in J M Smucker by 312.2% during the fourth quarter. Bank of America Corp DE now owns 4,351,714 shares of the company’s stock worth $406,843,000 after purchasing an additional 3,295,923 shares in the last quarter. Finally, LSV Asset Management boosted its position in J M Smucker by 51.7% during the first quarter. LSV Asset Management now owns 3,823,806 shares of the company’s stock worth $445,473,000 after purchasing an additional 1,303,090 shares in the last quarter. 78.06% of the stock is owned by institutional investors and hedge funds.
SJM stock traded up $0.24 during trading on Wednesday, hitting $123.35. The company had a trading volume of 20,516 shares, compared to its average volume of 999,967. The stock has a market capitalization of $14.07 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 2.84 and a beta of 0.53. J M Smucker Co has a 1-year low of $91.32 and a 1-year high of $128.43. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.59.
The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Thursday, May 16th. J M Smucker’s payout ratio is currently 41.01%.
In other J M Smucker news, SVP Jeannette L. Knudsen sold 1,932 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $102.86, for a total value of $198,725.52. Following the completion of the transaction, the senior vice president now directly owns 24,292 shares of the company’s stock, valued at approximately $2,498,675.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.92% of the stock is currently owned by corporate insiders.
SJM has been the topic of a number of recent analyst reports. Citigroup increased their price target on J M Smucker from $122.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. Jefferies Financial Group set a $125.00 price target on J M Smucker and gave the company a “buy” rating in a report on Tuesday, February 26th. Zacks Investment Research raised J M Smucker from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research note on Wednesday, March 27th. Morgan Stanley upgraded J M Smucker from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $104.00 to $117.00 in a research report on Thursday, April 18th. Finally, ValuEngine raised J M Smucker from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. J M Smucker has a consensus rating of “Hold” and a consensus price target of $116.11.
J M Smucker Company Profile
The J. M. Smucker Co engages in the manufacture and marketing of branded 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 the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.
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