TD Asset Management Inc. Sells 96,771 Shares of J.M. Smucker Company (The) (SJM)

TD Asset Management Inc. cut its position in shares of J.M. Smucker Company (The) (NYSE:SJM) by 63.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,500 shares of the company’s stock after selling 96,771 shares during the period. TD Asset Management Inc.’s holdings in J.M. Smucker Company (The) were worth $7,406,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. State Street Corp raised its stake in shares of J.M. Smucker Company (The) by 1.0% in the fourth quarter. State Street Corp now owns 5,330,947 shares of the company’s stock worth $682,666,000 after buying an additional 53,579 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of J.M. Smucker Company (The) by 9.7% in the first quarter. Wells Fargo & Company MN now owns 3,777,859 shares of the company’s stock valued at $495,201,000 after buying an additional 334,989 shares during the period. Dimensional Fund Advisors LP raised its position in shares of J.M. Smucker Company (The) by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,550,836 shares of the company’s stock valued at $198,613,000 after buying an additional 54,290 shares during the period. FMR LLC raised its position in shares of J.M. Smucker Company (The) by 35.3% in the fourth quarter. FMR LLC now owns 1,344,623 shares of the company’s stock valued at $172,193,000 after buying an additional 351,144 shares during the period. Finally, Putnam Investments LLC raised its position in shares of J.M. Smucker Company (The) by 1.7% in the fourth quarter. Putnam Investments LLC now owns 1,244,149 shares of the company’s stock valued at $159,326,000 after buying an additional 20,688 shares during the period. 73.76% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for J.M. Smucker Company (The) (NYSE:SJM)

J.M. Smucker Company (NYSE SJM) traded down 1.91% during trading on Friday, hitting $124.72. 1,415,958 shares of the stock traded hands. J.M. Smucker Company has a 52-week low of $122.05 and a 52-week high of $157.31. The firm has a 50-day moving average price of $127.03 and a 200 day moving average price of $131.37. The company has a market cap of $14.25 billion, a P/E ratio of 24.45 and a beta of 0.58.

J.M. Smucker Company (The) (NYSE:SJM) last posted its earnings results on Thursday, June 8th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.08. J.M. Smucker Company (The) had a net margin of 8.01% and a return on equity of 12.63%. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the firm posted $1.19 earnings per share. J.M. Smucker Company (The)’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities analysts expect that J.M. Smucker Company will post $7.93 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 12th were given a dividend of $0.75 per share. The ex-dividend date was Wednesday, May 10th. This represents a $3.00 annualized dividend and a dividend yield of 2.41%. J.M. Smucker Company (The)’s dividend payout ratio (DPR) is 58.82%.

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Several equities research analysts recently commented on SJM shares. Sanford C. Bernstein cut shares of J.M. Smucker Company (The) from a “market perform” rating to an “underperform” rating and cut their price objective for the company from $147.00 to $130.00 in a research report on Tuesday, March 21st. Zacks Investment Research lowered shares of J.M. Smucker Company (The) from a “hold” rating to a “sell” rating in a research note on Monday, May 8th. Credit Suisse Group restated a “neutral” rating and set a $126.00 price objective (down from $138.00) on shares of J.M. Smucker Company (The) in a research note on Friday, May 19th. Morgan Stanley lowered shares of J.M. Smucker Company (The) from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $132.00 to $126.00 in a research note on Monday, April 10th. Finally, Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $132.00 price target (down previously from $135.00) on shares of J.M. Smucker Company (The) in a research note on Tuesday, April 25th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $134.20.

About J.M. Smucker Company (The)

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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