Norges Bank Takes $92.96 Million Position in The J. M. Smucker Company $SJM

Norges Bank acquired a new stake in shares of The J. M. Smucker Company (NYSE:SJM) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 950,416 shares of the company’s stock, valued at approximately $92,960,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Harbour Investments Inc. raised its stake in shares of J. M. Smucker by 2.1% during the 4th quarter. Harbour Investments Inc. now owns 4,652 shares of the company’s stock valued at $455,000 after purchasing an additional 97 shares during the period. Delta Asset Management LLC TN increased its stake in J. M. Smucker by 7.8% in the 4th quarter. Delta Asset Management LLC TN now owns 1,378 shares of the company’s stock worth $135,000 after acquiring an additional 100 shares during the last quarter. Wesbanco Bank Inc. increased its stake in J. M. Smucker by 2.9% in the 3rd quarter. Wesbanco Bank Inc. now owns 3,615 shares of the company’s stock worth $393,000 after acquiring an additional 102 shares during the last quarter. Wedbush Securities Inc. increased its stake in J. M. Smucker by 1.2% in the 3rd quarter. Wedbush Securities Inc. now owns 8,861 shares of the company’s stock worth $962,000 after acquiring an additional 106 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in J. M. Smucker by 22.9% in the 3rd quarter. IFP Advisors Inc now owns 586 shares of the company’s stock worth $64,000 after acquiring an additional 109 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Price Performance

Shares of J. M. Smucker stock opened at $103.62 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.35 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $11.05 billion, a PE ratio of -8.79, a price-to-earnings-growth ratio of 6.83 and a beta of 0.27. The business’s 50-day moving average price is $97.90 and its 200-day moving average price is $101.75. The J. M. Smucker Company has a 12 month low of $88.25 and a 12 month high of $119.39.

J. M. Smucker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a dividend of $1.10 per share. The ex-dividend date was Friday, May 15th. This represents a $4.40 annualized dividend and a dividend yield of 4.2%. J. M. Smucker’s dividend payout ratio is -37.32%.

Wall Street Analyst Weigh In

SJM has been the topic of a number of research analyst reports. Wall Street Zen lowered J. M. Smucker from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. TD Cowen decreased their target price on J. M. Smucker from $124.00 to $113.00 and set a “hold” rating on the stock in a research note on Thursday, March 19th. JPMorgan Chase & Co. decreased their target price on J. M. Smucker from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 19th. Bank of America upgraded J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 target price on the stock in a research note on Monday, February 23rd. Finally, Stifel Nicolaus decreased their target price on J. M. Smucker from $120.00 to $100.00 and set a “hold” rating on the stock in a research note on Tuesday, April 21st. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $116.71.

J. M. Smucker Profile

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company’s main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker’s core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker’s® fruit spreads, Jif® peanut butter, Folgers® and Dunkin’® coffees, and Café Bustelo® coffee.