DNB Asset Management AS Grows Stock Holdings in The J. M. Smucker Company $SJM

DNB Asset Management AS grew its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 78.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 97,409 shares of the company’s stock after purchasing an additional 42,748 shares during the period. DNB Asset Management AS’s holdings in J. M. Smucker were worth $9,528,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC grew its holdings in J. M. Smucker by 150.0% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 57,999 shares of the company’s stock valued at $6,299,000 after buying an additional 34,800 shares in the last quarter. ProShare Advisors LLC grew its holdings in J. M. Smucker by 13.8% during the 3rd quarter. ProShare Advisors LLC now owns 1,562,259 shares of the company’s stock valued at $169,661,000 after buying an additional 188,868 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in J. M. Smucker during the 3rd quarter valued at about $9,444,000. Neo Ivy Capital Management purchased a new position in shares of J. M. Smucker during the 3rd quarter valued at $997,000. Finally, Murphy Middleton Hinkle & Parker Inc. purchased a new position in shares of J. M. Smucker during the 4th quarter valued at $1,406,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. BNP Paribas Exane set a $125.00 price target on shares of J. M. Smucker in a research report on Thursday, April 9th. JPMorgan Chase & Co. boosted their price target on shares of J. M. Smucker from $121.00 to $122.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Wall Street Zen lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of J. M. Smucker from $117.00 to $97.00 and set a “hold” rating for the company in a research report on Monday, March 30th. Finally, Bank of America upgraded shares of J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 price target for the company in a research report on Monday, February 23rd. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, J. M. Smucker presently has an average rating of “Hold” and an average price target of $116.59.

J. M. Smucker Stock Down 0.1%

Shares of NYSE:SJM opened at $100.46 on Monday. The J. M. Smucker Company has a 52-week low of $88.25 and a 52-week high of $119.39. The firm has a fifty day moving average of $98.37 and a 200 day moving average of $102.08. The firm has a market capitalization of $10.71 billion, a PE ratio of -8.52, a price-to-earnings-growth ratio of 4.04 and a beta of 0.25. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.35 and a current ratio of 0.84.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Thursday, February 26th. The company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.11. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the business earned $2.61 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, research analysts anticipate that The J. M. Smucker Company will post 9.04 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.40 annualized dividend and a yield of 4.4%. J. M. Smucker’s dividend payout ratio is currently -37.32%.

About J. M. Smucker

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company’s main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker’s core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker’s® fruit spreads, Jif® peanut butter, Folgers® and Dunkin’® coffees, and Café Bustelo® coffee.