DekaBank Deutsche Girozentrale Sells 31,599 Shares of The J. M. Smucker Company (NYSE:SJM)

DekaBank Deutsche Girozentrale decreased its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 56.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,403 shares of the company’s stock after selling 31,599 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in J. M. Smucker were worth $2,640,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tradition Wealth Management LLC increased its position in J. M. Smucker by 7.3% during the fourth quarter. Tradition Wealth Management LLC now owns 1,217 shares of the company’s stock worth $154,000 after buying an additional 83 shares during the last quarter. Czech National Bank boosted its stake in shares of J. M. Smucker by 0.5% during the 1st quarter. Czech National Bank now owns 18,676 shares of the company’s stock worth $2,351,000 after acquiring an additional 88 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of J. M. Smucker by 0.7% during the 1st quarter. Resonant Capital Advisors LLC now owns 14,328 shares of the company’s stock valued at $1,803,000 after acquiring an additional 93 shares during the last quarter. State of Michigan Retirement System increased its holdings in shares of J. M. Smucker by 0.3% during the 2nd quarter. State of Michigan Retirement System now owns 33,561 shares of the company’s stock valued at $3,659,000 after acquiring an additional 100 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of J. M. Smucker by 1.2% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,702 shares of the company’s stock valued at $1,100,000 after acquiring an additional 104 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Price Performance

Shares of NYSE:SJM opened at $120.48 on Thursday. The firm has a market capitalization of $12.79 billion, a PE ratio of 16.92, a PEG ratio of 3.20 and a beta of 0.24. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62. The business’s 50 day moving average is $118.40 and its 200-day moving average is $116.16.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company earned $2.21 earnings per share. The business’s revenue was up 17.7% compared to the same quarter last year. Sell-side analysts predict that The J. M. Smucker Company will post 9.82 earnings per share for the current year.

J. M. Smucker Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.59%. The ex-dividend date was Friday, August 16th. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s dividend payout ratio is 60.67%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. DA Davidson reiterated a “neutral” rating and set a $121.00 price target on shares of J. M. Smucker in a report on Thursday, August 29th. Argus lowered their target price on shares of J. M. Smucker from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, June 13th. Citigroup cut their target price on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. TD Cowen dropped their price objective on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $127.25.

Insiders Place Their Bets

In other J. M. Smucker news, CEO Mark T. Smucker sold 10,000 shares of J. M. Smucker stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the sale, the chief executive officer now directly owns 78,757 shares of the company’s stock, valued at $8,675,871.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.40% of the company’s stock.

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.