Allspring Global Investments Holdings LLC Lowers Position in The J. M. Smucker Company (NYSE:SJM)

Allspring Global Investments Holdings LLC lowered its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 82.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,792 shares of the company’s stock after selling 156,327 shares during the period. Allspring Global Investments Holdings LLC’s holdings in J. M. Smucker were worth $4,144,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Eagle Bay Advisors LLC acquired a new position in J. M. Smucker in the second quarter valued at $27,000. Clear Street Markets LLC grew its holdings in shares of J. M. Smucker by 97.2% during the 1st quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock worth $33,000 after purchasing an additional 104 shares during the period. Sunbelt Securities Inc. purchased a new position in J. M. Smucker in the first quarter valued at approximately $33,000. Resurgent Financial Advisors LLC acquired a new position in J. M. Smucker during the fourth quarter valued at approximately $44,000. Finally, Valley National Advisers Inc. grew its stake in J. M. Smucker by 2,266.7% during the fourth quarter. Valley National Advisers Inc. now owns 284 shares of the company’s stock worth $35,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Buying and Selling

In related news, insider Jeannette L. Knudsen sold 3,200 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $124.77, for a total transaction of $399,264.00. Following the completion of the transaction, the insider now directly owns 8,946 shares in the company, valued at approximately $1,116,192.42. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.50% of the company’s stock.

J. M. Smucker Stock Up 3.3 %

SJM stock opened at $114.76 on Friday. The stock’s 50 day simple moving average is $121.08 and its 200 day simple moving average is $120.65. The J. M. Smucker Company has a 12-month low of $107.33 and a 12-month high of $159.92. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.78 and a quick ratio of 0.38.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.21. J. M. Smucker had a negative net margin of 1.24% and a positive return on equity of 14.29%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the firm posted $2.21 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts expect that The J. M. Smucker Company will post 9.6 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be issued a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Thursday, May 16th. J. M. Smucker’s dividend payout ratio (DPR) is presently -481.81%.

Analyst Ratings Changes

A number of analysts recently weighed in on SJM shares. Stifel Nicolaus raised shares of J. M. Smucker from a “hold” rating to a “buy” rating and set a $135.00 price target for the company in a research report on Wednesday, February 28th. Barclays boosted their price target on J. M. Smucker from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. lifted their price objective on shares of J. M. Smucker from $126.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. DA Davidson started coverage on shares of J. M. Smucker in a research note on Friday, March 1st. They issued a “neutral” rating and a $132.00 target price for the company. Finally, Citigroup dropped their price target on shares of J. M. Smucker from $153.00 to $152.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $137.47.

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.