Handelsbanken Fonder AB Sells 10,700 Shares of The J. M. Smucker Company (NYSE:SJM)

Handelsbanken Fonder AB trimmed its stake in The J. M. Smucker Company (NYSE:SJM) by 10.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 95,185 shares of the company’s stock after selling 10,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in J. M. Smucker were worth $12,029,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Invesco Ltd. boosted its stake in J. M. Smucker by 9.3% in the third quarter. Invesco Ltd. now owns 1,777,750 shares of the company’s stock worth $218,503,000 after purchasing an additional 151,389 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in J. M. Smucker by 487.5% in the third quarter. Ameriprise Financial Inc. now owns 1,459,200 shares of the company’s stock worth $178,961,000 after purchasing an additional 1,210,837 shares in the last quarter. Northern Trust Corp boosted its stake in J. M. Smucker by 2.1% in the third quarter. Northern Trust Corp now owns 1,457,736 shares of the company’s stock worth $179,170,000 after purchasing an additional 29,728 shares in the last quarter. Nordea Investment Management AB boosted its stake in J. M. Smucker by 363.8% in the fourth quarter. Nordea Investment Management AB now owns 1,274,015 shares of the company’s stock worth $160,258,000 after purchasing an additional 999,315 shares in the last quarter. Finally, Tandem Investment Advisors Inc. boosted its stake in J. M. Smucker by 6.5% in the third quarter. Tandem Investment Advisors Inc. now owns 659,904 shares of the company’s stock worth $81,109,000 after purchasing an additional 40,308 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Stock Up 0.2 %

Shares of J. M. Smucker stock opened at $117.72 on Wednesday. The J. M. Smucker Company has a 1 year low of $107.33 and a 1 year high of $159.92. The business has a 50-day moving average of $120.63 and a two-hundred day moving average of $120.68. The company has a market capitalization of $12.50 billion, a P/E ratio of -133.77, a price-to-earnings-growth ratio of 1.87 and a beta of 0.21. 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 announced its quarterly earnings results on Tuesday, February 27th. The company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.21. J. M. Smucker had a positive return on equity of 14.29% and a negative net margin of 1.24%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the company earned $2.21 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities analysts predict that The J. M. Smucker Company will post 9.6 EPS for the current year.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a dividend of $1.06 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.60%. J. M. Smucker’s payout ratio is presently -481.81%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Barclays upped their price target on J. M. Smucker from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. TD Cowen cut their price target on J. M. Smucker from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Stifel Nicolaus raised J. M. Smucker from a “hold” rating to a “buy” rating and set a $135.00 price target on the stock in a research note on Wednesday, February 28th. DA Davidson assumed coverage on J. M. Smucker in a research note on Friday, March 1st. They set a “neutral” rating and a $132.00 price target on the stock. Finally, StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, April 8th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $137.47.

Insider Buying and Selling

In related news, insider Jeannette L. Knudsen sold 3,200 shares of the stock in a transaction dated 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 $1,116,192.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.50% of the stock is owned by corporate insiders.

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.