Stock Traders Buy Large Volume of Call Options on J M Smucker (SJM)

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J M Smucker Co (NYSE:SJM) was the target of unusually large options trading activity on Wednesday. Stock investors bought 5,154 call options on the company. This represents an increase of 1,038% compared to the average volume of 453 call options.

Several equities research analysts have issued reports on the stock. Bank of America reiterated a “neutral” rating and issued a $106.00 price target on shares of J M Smucker in a research note on Wednesday, October 3rd. Wolfe Research lowered shares of J M Smucker from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, September 26th. Credit Suisse Group set a $95.00 price target on shares of J M Smucker and gave the company a “sell” rating in a research note on Friday, September 21st. Zacks Investment Research upgraded shares of J M Smucker from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. Finally, ValuEngine lowered shares of J M Smucker from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 23rd. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. J M Smucker has a consensus rating of “Hold” and an average target price of $120.62.

In related news, SVP Jeannette L. Knudsen sold 1,500 shares of the firm’s stock in a transaction 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 sale, the senior vice president now directly owns 26,224 shares in the company, valued at $2,904,045.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.92% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in SJM. Schroder Investment Management Group grew its position in shares of J M Smucker by 1,338.0% in the 2nd quarter. Schroder Investment Management Group now owns 639,900 shares of the company’s stock valued at $69,781,000 after acquiring an additional 595,400 shares during the period. Unigestion Holding SA bought a new position in shares of J M Smucker in the 2nd quarter valued at about $58,578,000. BlackRock Inc. grew its position in shares of J M Smucker by 5.4% in the 2nd quarter. BlackRock Inc. now owns 9,452,323 shares of the company’s stock valued at $1,015,934,000 after acquiring an additional 484,096 shares during the period. Renaissance Technologies LLC bought a new position in shares of J M Smucker in the 2nd quarter valued at about $51,752,000. Finally, Thompson Siegel & Walmsley LLC grew its position in shares of J M Smucker by 88.0% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 700,106 shares of the company’s stock valued at $75,248,000 after acquiring an additional 327,621 shares during the period. 82.77% of the stock is owned by institutional investors.

Shares of SJM stock opened at $102.90 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. J M Smucker has a 1 year low of $96.13 and a 1 year high of $133.38. The firm has a market capitalization of $11.67 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 1.87 and a beta of 0.53.

J M Smucker (NYSE:SJM) last issued its quarterly earnings results on Tuesday, August 21st. The company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.02. J M Smucker had a net margin of 17.91% and a return on equity of 12.20%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the previous year, the business earned $0.96 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. Research analysts expect that J M Smucker 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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