DekaBank Deutsche Girozentrale Reduces Position in The J. M. Smucker Company (NYSE:SJM)

DekaBank Deutsche Girozentrale decreased its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 62.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,002 shares of the company’s stock after selling 93,406 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.05% of J. M. Smucker worth $6,978,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Boston Partners bought a new position in shares of J. M. Smucker during the 1st quarter worth approximately $364,990,000. Cetera Advisors LLC grew its position in J. M. Smucker by 21.1% during the 1st quarter. Cetera Advisors LLC now owns 11,906 shares of the company’s stock worth $1,499,000 after purchasing an additional 2,077 shares during the last quarter. Cetera Investment Advisers grew its position in J. M. Smucker by 62.0% during the 1st quarter. Cetera Investment Advisers now owns 24,174 shares of the company’s stock worth $3,043,000 after purchasing an additional 9,250 shares during the last quarter. Swedbank AB purchased a new stake in J. M. Smucker during the 1st quarter worth approximately $14,076,000. Finally, Wahed Invest LLC grew its position in J. M. Smucker by 13.7% during the 1st quarter. Wahed Invest LLC now owns 1,988 shares of the company’s stock worth $250,000 after purchasing an additional 240 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Mark T. Smucker sold 10,000 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $110.16, for a total value of $1,101,600.00. Following the completion of the transaction, the chief executive officer now owns 78,757 shares in the company, valued at approximately $8,675,871.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.40% of the stock is owned by insiders.

J. M. Smucker Trading Up 2.0 %

SJM stock traded up $2.41 during mid-day trading on Friday, hitting $122.40. 1,723,212 shares of the company were exchanged, compared to its average volume of 1,094,865. The company has a quick ratio of 0.25, a current ratio of 0.52 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $13.00 billion, a P/E ratio of 17.19, a PEG ratio of 2.45 and a beta of 0.25. The business has a fifty day simple moving average of $112.88 and a 200-day simple moving average of $118.24. The J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $151.99.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Thursday, June 6th. The company reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.34. J. M. Smucker had a net margin of 9.10% and a return on equity of 14.15%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter last year, the company earned $2.64 earnings per share. The firm’s revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts predict that The J. M. Smucker Company will post 10.06 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.53%. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Friday, August 16th. J. M. Smucker’s payout ratio is presently 59.55%.

Analyst Upgrades and Downgrades

SJM has been the topic of several research analyst reports. Citigroup boosted their target price on shares of J. M. Smucker from $137.00 to $139.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Barclays lowered their price target on shares of J. M. Smucker from $132.00 to $123.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. StockNews.com cut shares of J. M. Smucker from a “hold” rating to a “sell” rating in a research report on Wednesday. Argus reduced their price objective on shares of J. M. Smucker from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, June 13th. Finally, DA Davidson reduced their price objective on shares of J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating for the company in a research report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $132.64.

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.