Palisade Asset Management LLC Increases Holdings in The J. M. Smucker Company (NYSE:SJM)

Palisade Asset Management LLC boosted its position in The J. M. Smucker Company (NYSE:SJM) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,270 shares of the company’s stock after buying an additional 126 shares during the quarter. Palisade Asset Management LLC’s holdings in J. M. Smucker were worth $666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stratos Wealth Partners LTD. boosted its holdings in J. M. Smucker by 11.0% in the third quarter. Stratos Wealth Partners LTD. now owns 4,802 shares of the company’s stock valued at $590,000 after acquiring an additional 477 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in J. M. Smucker by 56.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,042 shares of the company’s stock valued at $8,978,000 after purchasing an additional 26,486 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of J. M. Smucker by 54.5% during the 3rd quarter. Mackenzie Financial Corp now owns 81,493 shares of the company’s stock valued at $9,813,000 after buying an additional 28,741 shares during the period. Strs Ohio boosted its stake in shares of J. M. Smucker by 3.9% in the 3rd quarter. Strs Ohio now owns 16,736 shares of the company’s stock worth $2,057,000 after buying an additional 635 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its holdings in shares of J. M. Smucker by 8.9% in the third quarter. IFM Investors Pty Ltd now owns 22,541 shares of the company’s stock worth $2,771,000 after acquiring an additional 1,849 shares during the period. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Trading Up 0.2 %

Shares of NYSE SJM traded up $0.17 during mid-day trading on Tuesday, reaching $112.94. The company had a trading volume of 796,128 shares, compared to its average volume of 1,266,187. The J. M. Smucker Company has a 52 week low of $107.33 and a 52 week high of $159.45. The business’s 50-day moving average is $118.71 and its 200-day moving average is $120.70. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of -128.12, a price-to-earnings-growth ratio of 1.70 and a beta of 0.23. The company has a current ratio of 0.78, a quick ratio of 0.38 and a debt-to-equity ratio of 1.07.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.27 by $0.21. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.22 billion. J. M. Smucker had a positive return on equity of 14.29% and a negative net margin of 1.24%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $2.21 earnings per share. Equities 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 disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, May 16th. J. M. Smucker’s payout ratio is currently -481.81%.

Insider Buying and Selling at J. M. Smucker

In other news, insider Jeannette L. Knudsen sold 3,200 shares of J. M. Smucker stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $124.77, for a total value of $399,264.00. Following the transaction, the insider now owns 8,946 shares of the company’s stock, valued at approximately $1,116,192.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SJM shares. Barclays upped their price target on shares of 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. DA Davidson assumed coverage on J. M. Smucker in a research note on Friday, March 1st. They issued a “neutral” rating and a $132.00 price target for the company. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, April 29th. JPMorgan Chase & Co. raised their target price 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. Finally, Citigroup dropped their price objective on shares of J. M. Smucker from $153.00 to $152.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.