New York State Common Retirement Fund Sells 3,000 Shares of The J. M. Smucker Company (NYSE:SJM)

New York State Common Retirement Fund lessened its holdings in The J. M. Smucker Company (NYSE:SJM) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,975 shares of the company’s stock after selling 3,000 shares during the quarter. New York State Common Retirement Fund’s holdings in J. M. Smucker were worth $7,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of J. M. Smucker by 3.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 324,381 shares of the company’s stock worth $35,721,000 after buying an additional 11,339 shares during the period. Raymond James Trust N.A. grew its position in J. M. Smucker by 6.8% during the 3rd quarter. Raymond James Trust N.A. now owns 4,846 shares of the company’s stock worth $587,000 after acquiring an additional 310 shares during the last quarter. Nordea Investment Management AB increased its stake in J. M. Smucker by 16.5% in the 4th 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. Miracle Mile Advisors LLC bought a new stake in J. M. Smucker in the fourth quarter valued at approximately $1,273,000. Finally, Signal Advisors Wealth LLC boosted its stake in shares of J. M. Smucker by 336.3% during the fourth quarter. Signal Advisors Wealth LLC now owns 12,950 shares of the company’s stock valued at $1,426,000 after purchasing an additional 9,982 shares during the period. 81.66% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Tucker H. Marshall sold 994 shares of J. M. Smucker stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $113.00, for a total transaction of $112,322.00. Following the completion of the transaction, the chief financial officer now directly owns 18,734 shares of the company’s stock, valued at $2,116,942. This trade represents a 5.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays decreased their target price on shares of J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 4th. TD Cowen cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price objective for the company from $130.00 to $121.00 in a research report on Wednesday, January 8th. Stifel Nicolaus dropped their target price on shares of J. M. Smucker from $125.00 to $120.00 and set a “hold” rating for the company in a report on Friday, January 24th. Finally, Wells Fargo & Company boosted their price target on J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $126.78.

J. M. Smucker Price Performance

SJM stock opened at $109.24 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27. The J. M. Smucker Company has a 1 year low of $98.77 and a 1 year high of $127.59. The firm has a 50-day moving average of $106.16 and a 200 day moving average of $113.26. The company has a market cap of $11.62 billion, a P/E ratio of 22.11, a PEG ratio of 3.91 and a beta of 0.27.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.25. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.27 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The business’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.59 EPS. On average, sell-side analysts forecast that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Friday, February 14th. J. M. Smucker’s dividend payout ratio (DPR) is presently 87.45%.

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.