Riverwater Partners LLC Has $389,000 Stake in The J. M. Smucker Company (NYSE:SJM)

Riverwater Partners LLC cut its position in shares of The J. M. Smucker Company (NYSE:SJM) by 45.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,530 shares of the company’s stock after selling 2,939 shares during the quarter. Riverwater Partners LLC’s holdings in J. M. Smucker were worth $389,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in J. M. Smucker during the fourth quarter worth approximately $112,978,000. State Street Corp grew its position in shares of J. M. Smucker by 12.0% during the 3rd quarter. State Street Corp now owns 7,111,023 shares of the company’s stock worth $861,145,000 after buying an additional 762,746 shares during the period. Raymond James Financial Inc. bought a new stake in shares of J. M. Smucker in the 4th quarter valued at $32,988,000. Amundi lifted its position in shares of J. M. Smucker by 49.3% during the 4th quarter. Amundi now owns 628,381 shares of the company’s stock valued at $66,250,000 after acquiring an additional 207,477 shares during the period. Finally, Nordea Investment Management AB boosted its stake in J. M. Smucker by 16.5% during 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 in the last quarter. Institutional investors own 81.66% of the company’s stock.

Insider Activity at J. M. Smucker

In related news, CFO Tucker H. Marshall sold 5,028 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were 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 trade represents a 27.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jill R. Penrose sold 5,117 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $116.26, for a total transaction of $594,902.42. Following the completion of the transaction, the insider now owns 8,794 shares in the company, valued at approximately $1,022,390.44. The trade was a 36.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

J. M. Smucker Trading Down 2.8 %

NYSE SJM opened at $115.03 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89. The business has a fifty day simple moving average of $109.70 and a 200 day simple moving average of $112.20. The J. M. Smucker Company has a 12 month low of $98.77 and a 12 month high of $125.42. The firm has a market capitalization of $12.24 billion, a P/E ratio of 23.29, a PEG ratio of 3.91 and a beta of 0.35.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Thursday, February 27th. The company reported $2.61 EPS for the quarter, beating the consensus estimate 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 company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.23 billion. On average, analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Friday, February 14th. J. M. Smucker’s dividend payout ratio is presently -179.25%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SJM shares. Barclays dropped their price objective 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. TD Cowen downgraded J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price target for the stock from $130.00 to $121.00 in a research note on Wednesday, January 8th. StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Friday, March 28th. Stifel Nicolaus lowered their target price on J. M. Smucker from $125.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Finally, Morgan Stanley initiated coverage on shares of J. M. Smucker in a research report on Monday, March 24th. They issued an “overweight” rating and a $123.00 price target for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $125.67.

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.