Nordea Investment Management AB Cuts Stock Position in The J. M. Smucker Company $SJM

Nordea Investment Management AB reduced its holdings in The J. M. Smucker Company (NYSE:SJM) by 83.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,131 shares of the company’s stock after selling 94,634 shares during the quarter. Nordea Investment Management AB’s holdings in J. M. Smucker were worth $1,784,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Root Financial Partners LLC purchased a new stake in shares of J. M. Smucker during the 3rd quarter worth approximately $29,000. CYBER HORNET ETFs LLC purchased a new stake in shares of J. M. Smucker in the second quarter valued at about $27,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of J. M. Smucker in the second quarter valued at approximately $28,000. MUFG Securities EMEA plc purchased a new stake in J. M. Smucker in the 2nd quarter valued at approximately $31,000. Finally, First Horizon Corp purchased a new stake in J. M. Smucker in the 3rd quarter valued at approximately $56,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

J. M. Smucker stock opened at $95.00 on Friday. The stock has a fifty day moving average price of $106.28 and a 200 day moving average price of $104.47. The J. M. Smucker Company has a 52 week low of $93.30 and a 52 week high of $120.76. The firm has a market capitalization of $10.13 billion, a P/E ratio of -8.06, a PEG ratio of 3.97 and a beta of 0.22. The company has a current ratio of 0.84, a quick ratio of 0.35 and a debt-to-equity ratio of 1.31.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Thursday, February 26th. The company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.11. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.32 billion. J. M. Smucker had a positive return on equity of 15.94% and a negative net margin of 14.07%.The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $2.61 EPS. Equities research analysts anticipate that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were given a $1.10 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $4.40 annualized dividend and a dividend yield of 4.6%. J. M. Smucker’s dividend payout ratio (DPR) is currently -37.32%.

Analyst Ratings Changes

SJM has been the subject of several recent research reports. Bank of America raised J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 price target for the company in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of J. M. Smucker in a research note on Wednesday, January 21st. Barclays lifted their price objective on J. M. Smucker from $105.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Morgan Stanley reissued an “equal weight” rating and issued a $105.00 target price (down from $115.00) on shares of J. M. Smucker in a research note on Friday, January 16th. Finally, Wells Fargo & Company upped their target price on shares of J. M. Smucker from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $121.21.

J. M. Smucker Company 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.