CIBC Asset Management Inc Grows Holdings in The J. M. Smucker Company $SJM

CIBC Asset Management Inc grew its holdings in The J. M. Smucker Company (NYSE:SJM) by 58.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 27,209 shares of the company’s stock after acquiring an additional 10,056 shares during the quarter. CIBC Asset Management Inc’s holdings in J. M. Smucker were worth $2,661,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Mccarter Private Wealth Services LLC purchased a new position in shares of J. M. Smucker during the fourth quarter valued at $291,000. Greenwich Wealth Management LLC increased its stake in shares of J. M. Smucker by 6.3% during the fourth quarter. Greenwich Wealth Management LLC now owns 8,710 shares of the company’s stock valued at $852,000 after buying an additional 520 shares during the period. AXQ Capital LP purchased a new position in shares of J. M. Smucker during the fourth quarter valued at $574,000. New Mexico Educational Retirement Board increased its stake in shares of J. M. Smucker by 2.1% during the fourth quarter. New Mexico Educational Retirement Board now owns 4,922 shares of the company’s stock valued at $481,000 after buying an additional 100 shares during the period. Finally, Waterloo Capital L.P. purchased a new position in shares of J. M. Smucker during the fourth quarter valued at $355,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Price Performance

Shares of SJM stock opened at $103.62 on Monday. The J. M. Smucker Company has a 1-year low of $88.25 and a 1-year high of $119.39. The stock’s 50-day moving average is $97.90 and its 200 day moving average is $101.71. The company has a market cap of $11.05 billion, a P/E ratio of -8.79, a PEG ratio of 6.99 and a beta of 0.27. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.84 and a quick ratio of 0.35.

J. M. Smucker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Friday, May 15th. J. M. Smucker’s dividend payout ratio (DPR) is currently -37.32%.

Analysts Set New Price Targets

Several equities analysts have recently commented on SJM shares. Stifel Nicolaus cut their price target 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. Bank of America upgraded J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a research note on Monday, February 23rd. TD Cowen dropped their price objective on J. M. Smucker from $124.00 to $113.00 and set a “hold” rating on the stock in a research report on Thursday, March 19th. Evercore began coverage on J. M. Smucker in a research report on Friday, May 15th. They set an “outperform” rating and a $117.00 price objective on the stock. Finally, Sanford C. Bernstein dropped their price objective on J. M. Smucker from $145.00 to $134.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, J. M. Smucker presently has a consensus 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.