New York State Teachers Retirement System Has $9.95 Million Holdings in The J. M. Smucker Company (NYSE:SJM)

New York State Teachers Retirement System raised its position in shares of The J. M. Smucker Company (NYSE:SJM) by 1.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,064 shares of the company’s stock after acquiring an additional 1,403 shares during the period. New York State Teachers Retirement System’s holdings in J. M. Smucker were worth $9,954,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. bought a new stake in J. M. Smucker in the 4th quarter valued at $27,000. Minot DeBlois Advisors LLC acquired a new stake in shares of J. M. Smucker during the fourth quarter worth $28,000. Measured Risk Portfolios Inc. bought a new stake in shares of J. M. Smucker in the fourth quarter valued at about $29,000. Menard Financial Group LLC bought a new stake in shares of J. M. Smucker in the fourth quarter valued at about $46,000. Finally, Sandy Spring Bank grew its stake in shares of J. M. Smucker by 1,365.5% in the fourth quarter. Sandy Spring Bank now owns 425 shares of the company’s stock valued at $47,000 after acquiring an additional 396 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Wells Fargo & Company cut their price objective on shares of J. M. Smucker from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, June 11th. Barclays cut their price target on J. M. Smucker from $119.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 11th. Bank of America lowered their price objective on J. M. Smucker from $118.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 11th. Citigroup dropped their price objective on J. M. Smucker from $128.00 to $118.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. Finally, Morgan Stanley reissued an “overweight” rating and set a $124.00 target price (up from $123.00) on shares of J. M. Smucker in a report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $115.80.

Insider Activity

In related news, Director Tarang Amin acquired 1,050 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The stock was acquired at an average price of $96.09 per share, with a total value of $100,894.50. Following the purchase, the director directly owned 3,825 shares in the company, valued at approximately $367,544.25. This trade represents a 37.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.40% of the company’s stock.

J. M. Smucker Trading Down 1.0%

Shares of SJM stock opened at $103.82 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.35 and a current ratio of 0.81. The J. M. Smucker Company has a fifty-two week low of $93.30 and a fifty-two week high of $125.42. The company has a market cap of $11.06 billion, a PE ratio of -8.98, a P/E/G ratio of 8.01 and a beta of 0.31. The stock’s fifty day moving average price is $107.32 and its two-hundred day moving average price is $108.95.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Tuesday, June 10th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.06. J. M. Smucker had a positive return on equity of 15.20% and a negative net margin of 14.10%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period last year, the firm posted $2.66 earnings per share. J. M. Smucker’s revenue was down 2.8% compared to the same quarter last year. Equities analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were paid a $1.08 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.16%. J. M. Smucker’s payout ratio is currently -37.37%.

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.