Nordea Investment Management AB lowered its position in shares of J M Smucker Co (NYSE:SJM) by 93.9% in the fourth quarter, HoldingsChannel reports. The firm owned 25,490 shares of the company’s stock after selling 391,783 shares during the quarter. Nordea Investment Management AB’s holdings in J M Smucker were worth $2,384,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Sawyer & Company Inc grew its stake in shares of J M Smucker by 1.8% during the fourth quarter. Sawyer & Company Inc now owns 5,523 shares of the company’s stock worth $516,000 after purchasing an additional 100 shares in the last quarter. Utah Retirement Systems lifted its position in J M Smucker by 0.5% in the fourth quarter. Utah Retirement Systems now owns 20,515 shares of the company’s stock valued at $1,918,000 after acquiring an additional 100 shares during the last quarter. Morningstar Investment Services LLC lifted its position in J M Smucker by 2.7% in the fourth quarter. Morningstar Investment Services LLC now owns 4,055 shares of the company’s stock valued at $379,000 after acquiring an additional 105 shares during the last quarter. Roberts Glore & Co. Inc. IL lifted its position in J M Smucker by 3.8% in the fourth quarter. Roberts Glore & Co. Inc. IL now owns 2,978 shares of the company’s stock valued at $278,000 after acquiring an additional 110 shares during the last quarter. Finally, Lenox Wealth Management Inc. lifted its position in J M Smucker by 1.4% in the fourth quarter. Lenox Wealth Management Inc. now owns 8,137 shares of the company’s stock valued at $761,000 after acquiring an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 77.94% of the company’s stock.

A number of brokerages recently weighed in on SJM. Credit Suisse Group raised shares of J M Smucker from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $96.00 to $120.00 in a research report on Monday. Argus began coverage on shares of J M Smucker in a research report on Monday, April 1st. They issued a “hold” rating for the company. Zacks Investment Research raised shares of J M Smucker from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a research report on Wednesday, March 27th. ValuEngine raised shares of J M Smucker from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Finally, Morgan Stanley boosted their price target on shares of J M Smucker from $98.00 to $104.00 and gave the company an “underweight” rating in a research report on Wednesday, February 27th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $114.91.

In related news, SVP Jeannette L. Knudsen sold 1,932 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $102.86, for a total transaction of $198,725.52. Following the completion of the transaction, the senior vice president now directly owns 24,292 shares of the company’s stock, valued at $2,498,675.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.92% of the stock is currently owned by corporate insiders.

Shares of NYSE:SJM opened at $119.48 on Wednesday. J M Smucker Co has a one year low of $91.32 and a one year high of $126.05. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.95 and a quick ratio of 0.44. The stock has a market capitalization of $13.59 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 2.45 and a beta of 0.56.

J M Smucker (NYSE:SJM) last announced its earnings results on Tuesday, February 26th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.23. J M Smucker had a net margin of 8.15% and a return on equity of 11.61%. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the prior year, the company earned $2.50 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts predict that J M Smucker Co will post 8.13 EPS for the current year.

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About J M Smucker

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company primarily offers coffee, pet food and pet snacks, peanut butter, fruit spreads, shortening and oils, baking mixes and ready-to-spread frostings, frozen sandwiches, flour and baking ingredients, juices and beverages, and portion control products.

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Want to see what other hedge funds are holding SJM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for J M Smucker Co (NYSE:SJM).

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

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