Sandy Spring Bank Raises Stock Position in The J. M. Smucker Company (NYSE:SJM)

Sandy Spring Bank raised its stake in The J. M. Smucker Company (NYSE:SJM) by 1,365.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 425 shares of the company’s stock after buying an additional 396 shares during the period. Sandy Spring Bank’s holdings in J. M. Smucker were worth $47,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. 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 buying an additional 762,746 shares in the last quarter. FMR LLC increased its stake in shares of J. M. Smucker by 40.0% during the 3rd quarter. FMR LLC now owns 3,353,996 shares of the company’s stock worth $406,169,000 after purchasing an additional 958,142 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of J. M. Smucker by 16.5% during 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of J. M. Smucker by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,003,042 shares of the company’s stock worth $110,455,000 after purchasing an additional 12,410 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of J. M. Smucker by 13.8% during the 4th quarter. Bank of New York Mellon Corp now owns 977,817 shares of the company’s stock worth $107,677,000 after purchasing an additional 118,240 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at J. M. Smucker

In other J. M. Smucker news, CFO Tucker H. Marshall sold 5,028 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $113.36, for a total value of $569,974.08. Following the transaction, the chief financial officer now owns 13,263 shares in the company, valued at $1,503,493.68. The trade was a 27.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.40% of the company’s stock.

J. M. Smucker Stock Up 0.4 %

Shares of SJM opened at $109.78 on Friday. The firm has a market cap of $11.68 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 3.91 and a beta of 0.28. The company’s fifty day moving average is $107.00 and its two-hundred day moving average is $112.42. The J. M. Smucker Company has a fifty-two week low of $98.77 and a fifty-two week high of $127.15. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89.

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

J. M. Smucker Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $1.08 per share. The ex-dividend date was Friday, February 14th. This represents a $4.32 annualized dividend and a dividend yield of 3.94%. J. M. Smucker’s payout ratio is -179.25%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SJM. Barclays dropped their price objective on shares of J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company raised their price objective on shares of J. M. Smucker from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. DA Davidson lowered their target price on shares of J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. TD Cowen cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and lowered their target price for the stock from $130.00 to $121.00 in a research note on Wednesday, January 8th. Finally, StockNews.com cut shares of J. M. Smucker from a “hold” rating to a “sell” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, J. M. Smucker has a consensus rating of “Hold” and an average price target of $126.00.

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.