Teachers Retirement System of The State of Kentucky Has $986,000 Stock Position in The J. M. Smucker Company (NYSE:SJM)

Teachers Retirement System of The State of Kentucky lessened its stake in The J. M. Smucker Company (NYSE:SJM) by 5.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,146 shares of the company’s stock after selling 449 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in J. M. Smucker were worth $986,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Studio Investment Management LLC bought a new stake in J. M. Smucker in the 2nd quarter valued at $26,000. Venturi Wealth Management LLC raised its stake in shares of J. M. Smucker by 1,329.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after purchasing an additional 226 shares during the period. Quarry LP lifted its holdings in shares of J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after purchasing an additional 219 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of J. M. Smucker during the third quarter worth about $39,000. Finally, Eastern Bank bought a new position in shares of J. M. Smucker during the third quarter worth about $40,000. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SJM. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Barclays cut their price objective on shares of J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 4th. Stifel Nicolaus cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and reduced their target price for the stock from $135.00 to $125.00 in a report on Friday, October 25th. Wells Fargo & Company lifted their price target on shares of J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, Citigroup reduced their price objective on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $128.56.

J. M. Smucker Stock Down 3.8 %

J. M. Smucker stock opened at $110.23 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27. The company’s 50-day moving average is $115.43 and its 200-day moving average is $115.97. The firm has a market capitalization of $11.73 billion, a PE ratio of 22.31, a P/E/G ratio of 3.46 and a beta of 0.26. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $134.62.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the business earned $2.59 earnings per share. The business’s revenue was up 17.2% compared to the same quarter last year. Sell-side analysts anticipate that The J. M. Smucker Company will post 9.89 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend was Friday, November 15th. J. M. Smucker’s dividend payout ratio is 87.45%.

Insiders Place Their Bets

In other news, CFO Tucker H. Marshall sold 994 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $113.00, for a total transaction of $112,322.00. Following the completion of the sale, the chief financial officer now owns 18,734 shares in the company, valued at approximately $2,116,942. This trade represents a 5.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.40% of the company’s stock.

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.