Retirement Systems of Alabama trimmed its stake in shares of J M Smucker Co (NYSE:SJM) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 52,450 shares of the company’s stock after selling 844 shares during the quarter. Retirement Systems of Alabama’s holdings in J M Smucker were worth $5,382,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. CSat Investment Advisory L.P. acquired a new stake in shares of J M Smucker during the 2nd quarter worth approximately $122,000. Truvestments Capital LLC acquired a new stake in shares of J M Smucker during the 3rd quarter worth approximately $154,000. Squar Milner Financial Services LLC acquired a new stake in shares of J M Smucker during the 2nd quarter worth approximately $160,000. IMS Capital Management acquired a new stake in shares of J M Smucker during the 2nd quarter worth approximately $181,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of J M Smucker during the 2nd quarter worth approximately $194,000. Institutional investors and hedge funds own 82.88% of the company’s stock.
Shares of SJM stock opened at $107.98 on Tuesday. J M Smucker Co has a 12-month low of $96.13 and a 12-month high of $133.38. The company has a market capitalization of $12.02 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.97 and a beta of 0.35. 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 (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 analysts’ consensus estimates of $1.76 by $0.02. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.95 billion. J M Smucker had a return on equity of 12.20% and a net margin of 17.91%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the company posted $0.96 EPS. Equities research analysts forecast that J M Smucker Co will post 8.4 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Friday, November 16th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Thursday, November 15th. J M Smucker’s payout ratio is currently 42.71%.
SJM has been the subject of a number of recent analyst reports. Credit Suisse Group set a $95.00 price objective on J M Smucker and gave the stock a “sell” rating in a report on Friday, September 21st. Wolfe Research lowered J M Smucker from a “peer perform” rating to an “underperform” rating in a report on Wednesday, September 26th. Zacks Investment Research raised J M Smucker from a “sell” rating to a “hold” rating in a report on Tuesday, September 11th. Bank of America reissued a “neutral” rating and issued a $106.00 price objective on shares of J M Smucker in a report on Wednesday, October 3rd. Finally, ValuEngine lowered J M Smucker from a “sell” rating to a “strong sell” rating in a report on Thursday, August 23rd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given 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 on Monday, September 10th. The stock was sold at an average price of $110.74, for a total transaction of $166,110.00. Following the completion of the transaction, the senior vice president now directly owns 26,224 shares of the company’s stock, valued at approximately $2,904,045.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.92% of the company’s stock.
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J M Smucker 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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