E. Ohman J or Asset Management AB Buys Shares of 5,459 The J. M. Smucker Company (NYSE:SJM)

E. Ohman J or Asset Management AB purchased a new position in shares of The J. M. Smucker Company (NYSE:SJM) during the 1st quarter, HoldingsChannel reports. The firm purchased 5,459 shares of the company’s stock, valued at approximately $646,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SJM. Vest Financial LLC boosted its stake in shares of J. M. Smucker by 9.0% during the 1st quarter. Vest Financial LLC now owns 528,615 shares of the company’s stock worth $62,593,000 after acquiring an additional 43,663 shares in the last quarter. Naples Global Advisors LLC lifted its holdings in J. M. Smucker by 2.3% in the 1st quarter. Naples Global Advisors LLC now owns 9,061 shares of the company’s stock worth $1,073,000 after purchasing an additional 200 shares during the last quarter. Columbia Asset Management boosted its position in J. M. Smucker by 9.7% during the first quarter. Columbia Asset Management now owns 2,257 shares of the company’s stock worth $267,000 after purchasing an additional 200 shares during the period. Apella Capital LLC bought a new stake in J. M. Smucker during the first quarter worth approximately $201,000. Finally, Triangle Securities Wealth Management acquired a new position in J. M. Smucker during the first quarter valued at approximately $237,000. Institutional investors own 81.66% of the company’s stock.

Insider Activity

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

J. M. Smucker Trading Down 0.4%

Shares of SJM opened at $110.62 on Friday. The stock’s 50-day moving average price is $113.88 and its 200 day moving average price is $111.24. 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 firm has a market capitalization of $11.77 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 3.91 and a beta of 0.35. The J. M. Smucker Company has a 12-month low of $98.77 and a 12-month high of $125.42.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Friday, May 16th. J. M. Smucker’s payout ratio is presently -179.25%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SJM shares. Wall Street Zen upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Friday, March 28th. DA Davidson cut their target price on shares of J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. UBS Group decreased their price target on shares of J. M. Smucker from $134.00 to $129.00 and set a “buy” rating for the company in a report on Friday. Barclays dropped 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 note on Monday, March 3rd. Finally, Morgan Stanley boosted their price objective on J. M. Smucker from $123.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $125.30.

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.