IBM Retirement Fund Takes $207,000 Position in J M Smucker Co (SJM)
IBM Retirement Fund bought a new stake in J M Smucker Co (NYSE:SJM) during the fourth quarter, HoldingsChannel.com reports. The fund bought 1,665 shares of the company’s stock, valued at approximately $207,000.
Other institutional investors have also recently made changes to their positions in the company. Shell Asset Management Co. raised its position in J M Smucker by 828.6% in the 3rd quarter. Shell Asset Management Co. now owns 103,685 shares of the company’s stock valued at $10,264,000 after buying an additional 92,519 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in J M Smucker in the 3rd quarter valued at approximately $201,000. Toronto Dominion Bank raised its position in J M Smucker by 9.5% in the 3rd quarter. Toronto Dominion Bank now owns 43,226 shares of the company’s stock valued at $4,535,000 after buying an additional 3,766 shares during the last quarter. Northern Oak Wealth Management Inc. raised its position in J M Smucker by 98.4% in the 3rd quarter. Northern Oak Wealth Management Inc. now owns 51,554 shares of the company’s stock valued at $5,410,000 after buying an additional 25,571 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in J M Smucker by 2.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 407,057 shares of the company’s stock valued at $42,713,000 after buying an additional 8,475 shares during the last quarter. 76.10% of the stock is currently owned by institutional investors and hedge funds.
J M Smucker Co (NYSE SJM) opened at $119.40 on Tuesday. The firm has a market capitalization of $13,577.19, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 2.03 and a beta of 0.65. J M Smucker Co has a 1 year low of $99.57 and a 1 year high of $143.68. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.42 and a current ratio of 0.96.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 9th will be paid a dividend of $0.78 per share. The ex-dividend date is Thursday, February 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.61%. J M Smucker’s dividend payout ratio is currently 63.03%.
In other news, SVP Jeannette L. Knudsen sold 1,600 shares of J M Smucker stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $124.36, for a total transaction of $198,976.00. Following the completion of the transaction, the senior vice president now directly owns 23,452 shares in the company, valued at approximately $2,916,490.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David J. Lemmon sold 1,205 shares of J M Smucker stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $124.54, for a total value of $150,070.70. The disclosure for this sale can be found here. Insiders have sold a total of 5,610 shares of company stock valued at $698,093 over the last quarter. 3.50% of the stock is currently owned by corporate insiders.
SJM has been the topic of a number of recent research reports. Credit Suisse Group set a $110.00 target price on J M Smucker and gave the company a “hold” rating in a research report on Friday, November 17th. Zacks Investment Research raised J M Smucker from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Jefferies Group set a $135.00 price target on J M Smucker and gave the stock a “buy” rating in a research report on Saturday, November 18th. Susquehanna Bancshares raised J M Smucker from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $110.00 to $127.00 in a research report on Monday, November 13th. Finally, Wells Fargo & Co set a $128.00 price target on J M Smucker and gave the stock a “hold” rating in a research report on Thursday, January 4th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $127.58.
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J M Smucker Company Profile
The J. M. Smucker Company is a manufacturer and marketer of branded food and beverage products and pet food and pet snacks in North America. The Company’s segments include U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Foodservice. The Company’s U.S. retail market segments consist of the sale of branded food products to consumers through retail outlets in North America.
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