PGGM Investments Reduces Position in J M Smucker Co (SJM)

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PGGM Investments lessened its holdings in J M Smucker Co (NYSE:SJM) by 34.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,455 shares of the company’s stock after selling 90,000 shares during the quarter. PGGM Investments’ holdings in J M Smucker were worth $17,798,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alpha Windward LLC bought a new position in J M Smucker in the 2nd quarter valued at approximately $551,000. Ariel Investments LLC raised its holdings in J M Smucker by 6.6% in the 2nd quarter. Ariel Investments LLC now owns 1,767,460 shares of the company’s stock valued at $189,967,000 after buying an additional 108,828 shares during the last quarter. Raymond James & Associates raised its holdings in J M Smucker by 3.4% in the 2nd quarter. Raymond James & Associates now owns 162,046 shares of the company’s stock valued at $17,418,000 after buying an additional 5,289 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in J M Smucker by 41.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 21,900 shares of the company’s stock valued at $2,354,000 after buying an additional 6,414 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in J M Smucker in the 2nd quarter valued at approximately $430,000. Institutional investors and hedge funds own 82.77% of the company’s stock.

A number of brokerages recently issued reports on SJM. Zacks Investment Research lowered shares of J M Smucker from a “hold” rating to a “sell” rating in a report on Friday, August 24th. Bank of America reiterated a “neutral” rating and issued a $106.00 price objective on shares of J M Smucker in a report on Wednesday, October 3rd. Credit Suisse Group raised their price objective on shares of J M Smucker from $90.00 to $95.00 and gave the company an “underperform” rating in a report on Wednesday, June 27th. ValuEngine downgraded shares of J M Smucker from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 23rd. Finally, Wolfe Research downgraded shares of J M Smucker from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, September 26th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $120.62.

In other J M Smucker news, SVP Jeannette L. Knudsen sold 1,500 shares of the stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $110.74, for a total transaction of $166,110.00. Following the completion of the sale, the senior vice president now owns 26,224 shares of the company’s stock, valued at approximately $2,904,045.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.92% of the company’s stock.

NYSE:SJM opened at $103.93 on Tuesday. The company has a market cap of $11.67 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.87 and a beta of 0.53. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.17 and a quick ratio of 0.51. J M Smucker Co has a fifty-two week low of $96.13 and a fifty-two week high of $133.38.

J M Smucker (NYSE:SJM) last released its earnings results on Tuesday, August 21st. The company reported $1.78 earnings per share for the quarter, beating 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 17.91% and a return on equity of 12.20%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 EPS. On average, sell-side analysts expect that J M Smucker Co will post 8.43 EPS for the current year.

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

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