Cinctive Capital Management LP Makes New $2.12 Million Investment in The J. M. Smucker Company (NYSE:SJM)

Cinctive Capital Management LP acquired a new stake in shares of The J. M. Smucker Company (NYSE:SJM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,262 shares of the company’s stock, valued at approximately $2,121,000.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in shares of J. M. Smucker in the fourth quarter valued at $112,978,000. State Street Corp grew its holdings in shares of J. M. Smucker by 12.0% in the 3rd quarter. State Street Corp now owns 7,111,023 shares of the company’s stock worth $861,145,000 after acquiring an additional 762,746 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of J. M. Smucker during the fourth quarter worth $32,988,000. Amundi raised its position in shares of J. M. Smucker by 49.3% during the fourth quarter. Amundi now owns 628,381 shares of the company’s stock worth $66,250,000 after purchasing an additional 207,477 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of J. M. Smucker by 16.5% during the fourth quarter. Nordea Investment Management AB now owns 1,361,902 shares of the company’s stock valued at $150,082,000 after purchasing an additional 192,748 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays cut their price objective on J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. TD Cowen lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and cut their price target for the company from $130.00 to $121.00 in a report on Wednesday, January 8th. DA Davidson decreased their price objective on shares of 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. Morgan Stanley began coverage on shares of J. M. Smucker in a research note on Monday, March 24th. They set an “overweight” rating and a $123.00 target price on the stock. Finally, StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Friday, March 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $125.67.

Insiders Place Their Bets

In related news, insider Jill R. Penrose sold 5,117 shares of J. M. Smucker stock in a transaction on Friday, March 28th. The shares were sold at an average price of $116.26, for a total value of $594,902.42. Following the completion of the sale, the insider now owns 8,794 shares of the company’s stock, valued at approximately $1,022,390.44. The trade was a 36.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tucker H. Marshall sold 5,028 shares of the 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 transaction, the chief financial officer now directly owns 13,263 shares in the company, valued at $1,503,493.68. The trade was a 27.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

J. M. Smucker Trading Down 0.1 %

J. M. Smucker stock opened at $118.44 on Thursday. The J. M. Smucker Company has a 12 month low of $98.77 and a 12 month high of $125.42. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The stock has a market cap of $12.60 billion, a P/E ratio of 23.98, a P/E/G ratio of 3.91 and a beta of 0.28. The company’s fifty day simple moving average is $109.16 and its 200-day simple moving average is $112.20.

J. M. Smucker (NYSE:SJM) last issued 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 firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.23 billion. As a group, sell-side analysts forecast that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Friday, February 14th. J. M. Smucker’s dividend payout ratio (DPR) is presently -179.25%.

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.