Thrivent Financial for Lutherans Has $61.25 Million Stake in The J. M. Smucker Company (NYSE:SJM)

Thrivent Financial for Lutherans lowered its position in The J. M. Smucker Company (NYSE:SJM) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 556,207 shares of the company’s stock after selling 23,696 shares during the period. Thrivent Financial for Lutherans’ holdings in J. M. Smucker were worth $61,249,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SJM. FMR LLC increased its holdings in J. M. Smucker by 40.0% in the third quarter. FMR LLC now owns 3,353,996 shares of the company’s stock worth $406,169,000 after buying an additional 958,142 shares during the last quarter. State Street Corp increased its holdings in J. M. Smucker by 12.0% in the third 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 during the last quarter. Raymond James Financial Inc. bought a new stake in J. M. Smucker during the fourth quarter worth approximately $32,988,000. Amundi boosted its position in J. M. Smucker by 49.3% during the fourth quarter. Amundi now owns 628,381 shares of the company’s stock worth $66,250,000 after purchasing an additional 207,477 shares during the period. Finally, Nordea Investment Management AB boosted its position in J. M. Smucker by 16.5% during the fourth quarter. Nordea Investment Management AB now owns 1,361,902 shares of the company’s stock worth $150,082,000 after purchasing an additional 192,748 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Stock Down 0.7 %

SJM opened at $110.15 on Thursday. The J. M. Smucker Company has a 1-year low of $98.77 and a 1-year high of $127.59. 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 stock has a market capitalization of $11.72 billion, a price-to-earnings ratio of 22.30, a P/E/G ratio of 3.91 and a beta of 0.28. The business has a 50 day moving average of $106.74 and a 200-day moving average of $112.52.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Thursday, February 27th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.37 by $0.24. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.23 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. As a group, sell-side analysts anticipate that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $1.08 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $4.32 annualized dividend and a yield of 3.92%. J. M. Smucker’s dividend payout ratio (DPR) is currently -179.25%.

Insider Buying and Selling

In related news, CFO Tucker H. Marshall sold 5,028 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $113.36, for a total value of $569,974.08. Following the completion of the transaction, the chief financial officer now directly owns 13,263 shares of the company’s stock, valued at $1,503,493.68. This trade represents a 27.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

About J. M. Smucker

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.