Elo Mutual Pension Insurance Co Makes New $1.25 Million Investment in The J. M. Smucker Company (NYSE:SJM)

Elo Mutual Pension Insurance Co purchased a new stake in The J. M. Smucker Company (NYSE:SJM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 11,323 shares of the company’s stock, valued at approximately $1,247,000.

Several other large investors have also recently modified their holdings of the business. 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 valued at $861,145,000 after purchasing an additional 762,746 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of J. M. Smucker in the fourth quarter valued at about $32,988,000. Amundi raised its position in shares of 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 acquiring an additional 207,477 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of J. M. Smucker by 16.5% in the fourth quarter. Nordea Investment Management AB now owns 1,361,902 shares of the company’s stock worth $150,082,000 after acquiring an additional 192,748 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in J. M. Smucker by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 13,344,933 shares of the company’s stock valued at $1,469,544,000 after acquiring an additional 130,533 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Insider Transactions at J. M. Smucker

In related news, CFO Tucker H. Marshall sold 5,028 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $113.36, for a total transaction of $569,974.08. Following the completion of the sale, the chief financial officer now owns 13,263 shares in the company, valued at approximately $1,503,493.68. This represents a 27.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SJM shares. DA Davidson dropped their price target on shares of J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Barclays dropped their target price on shares of J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Morgan Stanley assumed coverage on J. M. Smucker in a report on Monday, March 24th. They set an “overweight” rating and a $123.00 price target for the company. TD Cowen downgraded J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price objective for the company from $130.00 to $121.00 in a research note on Wednesday, January 8th. Finally, StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, J. M. Smucker has a consensus rating of “Hold” and a consensus target price of $125.67.

J. M. Smucker Trading Down 0.5 %

Shares of J. M. Smucker stock opened at $116.13 on Monday. The J. M. Smucker Company has a 52 week low of $98.77 and a 52 week high of $125.75. The stock has a 50 day moving average price of $108.21 and a two-hundred day moving average price of $112.17. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58. The stock has a market capitalization of $12.36 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 3.91 and a beta of 0.28.

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

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $1.08 per share. The ex-dividend date was Friday, February 14th. This represents a $4.32 dividend on an annualized basis and a yield of 3.72%. J. M. Smucker’s dividend payout ratio (DPR) is currently -179.25%.

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.