The J. M. Smucker Company (NYSE:SJM) Shares Sold by Cornerstone Capital Inc.

Cornerstone Capital Inc. cut its position in shares of The J. M. Smucker Company (NYSE:SJM) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 92,802 shares of the company’s stock after selling 1,002 shares during the quarter. Cornerstone Capital Inc. owned 0.09% of J. M. Smucker worth $11,728,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SS&H Financial Advisors Inc. acquired a new position in shares of J. M. Smucker in the third quarter worth $277,000. Czech National Bank raised its holdings in shares of J. M. Smucker by 41.4% in the third quarter. Czech National Bank now owns 17,847 shares of the company’s stock worth $2,194,000 after acquiring an additional 5,224 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of J. M. Smucker by 2.7% in the third quarter. Asset Management One Co. Ltd. now owns 109,327 shares of the company’s stock worth $13,437,000 after acquiring an additional 2,838 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of J. M. Smucker by 40.2% in the third quarter. Handelsbanken Fonder AB now owns 105,885 shares of the company’s stock worth $13,014,000 after acquiring an additional 30,344 shares during the last quarter. Finally, Verity & Verity LLC raised its holdings in shares of J. M. Smucker by 1.3% in the third quarter. Verity & Verity LLC now owns 53,919 shares of the company’s stock worth $6,190,000 after acquiring an additional 696 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

J. M. Smucker Price Performance

SJM opened at $113.60 on Friday. The stock has a fifty day moving average of $120.10 and a 200-day moving average of $120.65. The firm has a market capitalization of $12.06 billion, a P/E ratio of -129.09, a PEG ratio of 1.81 and a beta of 0.21. The J. M. Smucker Company has a 12-month low of $107.33 and a 12-month high of $159.92. The company has a quick ratio of 0.38, a current ratio of 0.78 and a debt-to-equity ratio of 1.07.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.21. J. M. Smucker had a positive return on equity of 14.29% and a negative net margin of 1.24%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the company earned $2.21 earnings per share. J. M. Smucker’s quarterly revenue was up .6% compared to the same quarter last year. Equities analysts forecast that The J. M. Smucker Company will post 9.6 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a dividend of $1.06 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.24 annualized dividend and a dividend yield of 3.73%. J. M. Smucker’s dividend payout ratio is -481.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SJM shares. StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, April 8th. Stifel Nicolaus raised J. M. Smucker from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a research report on Wednesday, February 28th. DA Davidson started coverage on J. M. Smucker in a research note on Friday, March 1st. They issued a “neutral” rating and a $132.00 price target on the stock. Barclays boosted their price target on J. M. Smucker from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Finally, Citigroup cut their price objective on J. M. Smucker from $153.00 to $152.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $137.47.

Insider Buying and Selling

In related news, insider Jeannette L. Knudsen sold 3,200 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $124.77, for a total transaction of $399,264.00. Following the completion of the sale, the insider now directly owns 8,946 shares in the company, valued at $1,116,192.42. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.50% of the stock is owned by corporate insiders.

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.