Maridea Wealth Management LLC Purchases Shares of 2,676 The J. M. Smucker Company (NYSE:SJM)

Maridea Wealth Management LLC acquired a new position in shares of The J. M. Smucker Company (NYSE:SJM) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,676 shares of the company’s stock, valued at approximately $295,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. DnB Asset Management AS raised its stake in shares of J. M. Smucker by 2.6% in the 4th quarter. DnB Asset Management AS now owns 25,236 shares of the company’s stock valued at $2,779,000 after purchasing an additional 630 shares during the period. Pictet Asset Management Holding SA raised its position in J. M. Smucker by 13.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 64,092 shares of the company’s stock valued at $7,058,000 after buying an additional 7,825 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in J. M. Smucker by 9.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 368,322 shares of the company’s stock valued at $40,560,000 after acquiring an additional 32,163 shares in the last quarter. Boussard & Gavaudan Investment Management LLP bought a new stake in J. M. Smucker in the 4th quarter valued at approximately $1,695,000. Finally, Norges Bank acquired a new position in J. M. Smucker during the 4th quarter worth approximately $112,978,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at J. M. Smucker

In other news, CFO Tucker H. Marshall sold 5,028 shares of J. M. Smucker stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $113.36, for a total transaction of $569,974.08. Following the completion of the sale, the chief financial officer now owns 13,263 shares of the company’s stock, valued at approximately $1,503,493.68. This trade represents a 27.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by corporate insiders.

J. M. Smucker Stock Down 0.5 %

SJM opened at $116.13 on Friday. The stock’s fifty day simple moving average is $108.21 and its 200 day simple moving average is $112.20. The J. M. Smucker Company has a 1-year low of $98.77 and a 1-year high of $125.75. The stock has a market cap of $12.36 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 3.91 and a beta of 0.28. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89.

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

J. M. Smucker Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $1.08 per share. The ex-dividend date was Friday, February 14th. This represents a $4.32 annualized dividend and a yield of 3.72%. J. M. Smucker’s payout ratio is currently -179.25%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Friday. Barclays cut their price target on shares of 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. TD Cowen cut J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price objective for the company from $130.00 to $121.00 in a report on Wednesday, January 8th. Stifel Nicolaus dropped their target price on J. M. Smucker from $125.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Finally, DA Davidson decreased their price target on J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $125.67.

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.