Bronfman E.L. Rothschild L.P. raised its holdings in shares of J M Smucker Co (NYSE:SJM) by 13.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,767 shares of the company’s stock after acquiring an additional 579 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in J M Smucker were worth $512,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the stock. Alpha Windward LLC bought a new position in J M Smucker during the 2nd quarter valued at approximately $551,000. Sei Investments Co. lifted its position in J M Smucker by 13.6% during the first quarter. Sei Investments Co. now owns 115,503 shares of the company’s stock valued at $14,323,000 after purchasing an additional 13,802 shares during the period. Curbstone Financial Management Corp acquired a new position in J M Smucker during the second quarter valued at $1,507,000. Assenagon Asset Management S.A. lifted its position in J M Smucker by 116.3% during the second quarter. Assenagon Asset Management S.A. now owns 26,646 shares of the company’s stock valued at $2,864,000 after purchasing an additional 14,328 shares during the period. Finally, Palouse Capital Management Inc. lifted its position in J M Smucker by 7.1% during the second quarter. Palouse Capital Management Inc. now owns 61,304 shares of the company’s stock valued at $6,589,000 after purchasing an additional 4,081 shares during the period. Institutional investors and hedge funds own 80.25% of the company’s stock.
In other news, Chairman Timothy P. Smucker acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, June 13th. The stock was acquired at an average price of $106.09 per share, for a total transaction of $530,450.00. Following the completion of the transaction, the chairman now owns 557,802 shares in the company, valued at approximately $59,177,214.18. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Barry C. Dunaway sold 10,354 shares of the company’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $106.14, for a total transaction of $1,098,973.56. Following the completion of the transaction, the insider now owns 22,851 shares of the company’s stock, valued at approximately $2,425,405.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,342 shares of company stock valued at $2,187,461. Insiders own 3.92% of the company’s stock.
Shares of J M Smucker stock opened at $108.20 on Wednesday. The stock has a market capitalization of $13.01 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.82 and a beta of 0.58. J M Smucker Co has a fifty-two week low of $96.13 and a fifty-two week high of $133.38. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.50 and a quick ratio of 0.68.
J M Smucker (NYSE:SJM) last issued its quarterly earnings data on Tuesday, August 21st. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.02. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.95 billion. J M Smucker had a net margin of 18.19% and a return on equity of 12.20%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 earnings per share. sell-side analysts predict that J M Smucker Co will post 8.41 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Friday, August 17th will be given a $0.85 dividend. The ex-dividend date is Thursday, August 16th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.14%. This is an increase from J M Smucker’s previous quarterly dividend of $0.78. J M Smucker’s dividend payout ratio is 42.71%.
A number of research analysts recently issued reports on SJM shares. ValuEngine downgraded shares of J M Smucker from a “hold” rating to a “sell” rating in a research report on Thursday, May 3rd. Susquehanna Bancshares set a $159.00 target price on shares of J M Smucker and gave the company a “buy” rating in a research report on Monday, May 21st. Credit Suisse Group decreased their target price on shares of J M Smucker from $115.00 to $98.00 and set an “underperform” rating for the company in a research report on Tuesday, June 5th. Wells Fargo & Co set a $100.00 target price on shares of J M Smucker and gave the company a “hold” rating in a research report on Tuesday, June 5th. Finally, Deutsche Bank set a $97.00 target price on shares of J M Smucker and gave the company a “hold” rating in a research report on Friday, June 8th. Six analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $121.83.
J M Smucker Company Profile
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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