Neo Ivy Capital Management Takes $361,000 Position in The J. M. Smucker Company (NYSE:SJM)

Neo Ivy Capital Management purchased a new position in The J. M. Smucker Company (NYSE:SJM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,279 shares of the company’s stock, valued at approximately $361,000.

A number of other institutional investors have also recently made changes to their positions in SJM. Sumitomo Mitsui Trust Group Inc. lifted its holdings in J. M. Smucker by 3.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 324,381 shares of the company’s stock valued at $35,721,000 after purchasing an additional 11,339 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of J. M. Smucker by 88.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,465 shares of the company’s stock worth $1,263,000 after buying an additional 5,395 shares in the last quarter. SG Americas Securities LLC raised its position in shares of J. M. Smucker by 285.4% in the fourth quarter. SG Americas Securities LLC now owns 25,304 shares of the company’s stock valued at $2,786,000 after buying an additional 18,739 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of J. M. Smucker by 26.2% in the fourth quarter. Blue Trust Inc. now owns 1,302 shares of the company’s stock worth $158,000 after buying an additional 270 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of J. M. Smucker by 30.3% in the fourth quarter. Pacer Advisors Inc. now owns 15,253 shares of the company’s stock worth $1,680,000 after buying an additional 3,550 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. UBS Group began coverage on shares of J. M. Smucker in a research note on Wednesday, April 23rd. They set a “buy” rating and a $134.00 price objective for the company. Stifel Nicolaus dropped their price target on J. M. Smucker from $125.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Barclays reduced their price objective on J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Morgan Stanley started coverage on J. M. Smucker in a research note on Monday, March 24th. They set an “overweight” rating and a $123.00 price objective on the stock. Finally, Wall Street Zen raised J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, J. M. Smucker currently has a consensus rating of “Hold” and a consensus price target of $125.70.

J. M. Smucker Trading Up 0.6%

SJM opened at $112.69 on Friday. The stock has a market capitalization of $11.99 billion, a PE ratio of 22.81, a P/E/G ratio of 3.91 and a beta of 0.36. The J. M. Smucker Company has a one year low of $98.77 and a one year high of $125.42. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58. The business’s 50 day moving average price is $114.19 and its 200 day moving average price is $111.26.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Thursday, February 27th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.24. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.23 billion. As a group, equities research analysts expect that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 16th will be given a $1.08 dividend. The ex-dividend date is Friday, May 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.83%. J. M. Smucker’s payout ratio is currently -179.25%.

Insiders Place Their Bets

In related news, insider Jill R. Penrose sold 5,117 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $116.26, for a total value of $594,902.42. Following the sale, the insider now owns 8,794 shares in the company, valued at approximately $1,022,390.44. The trade was a 36.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Tucker H. Marshall sold 5,028 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $113.36, for a total value of $569,974.08. Following the transaction, the chief financial officer now directly owns 13,263 shares in the company, valued at approximately $1,503,493.68. The trade was a 27.49% decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

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.