Cadence Capital Management LLC grew its stake in shares of J M Smucker Co (NYSE:SJM) by 25.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,009 shares of the company’s stock after purchasing an additional 3,683 shares during the period. Cadence Capital Management LLC’s holdings in J M Smucker were worth $1,848,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Alpha Windward LLC bought a new stake in shares of J M Smucker during the 2nd quarter valued at about $551,000. Tandem Investment Advisors Inc. boosted its stake in shares of J M Smucker by 6.6% during the 3rd quarter. Tandem Investment Advisors Inc. now owns 122,790 shares of the company’s stock valued at $12,599,000 after purchasing an additional 7,633 shares in the last quarter. Ariel Investments LLC boosted its stake in shares of J M Smucker by 6.6% during the 2nd quarter. Ariel Investments LLC now owns 1,767,460 shares of the company’s stock valued at $189,967,000 after purchasing an additional 108,828 shares in the last quarter. Raymond James & Associates boosted its stake in shares of J M Smucker by 3.4% during the 2nd quarter. Raymond James & Associates now owns 162,046 shares of the company’s stock valued at $17,418,000 after purchasing an additional 5,289 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of J M Smucker by 41.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 21,900 shares of the company’s stock valued at $2,354,000 after purchasing an additional 6,414 shares in the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE SJM opened at $112.88 on Friday. J M Smucker Co has a 1 year low of $96.13 and a 1 year high of $133.38. The stock has a market cap of $12.50 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 2.05 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 company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.95 billion. J M Smucker had a net margin of 17.91% and a return on equity of 12.20%. J M Smucker’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the company posted $0.96 EPS. As a group, research analysts forecast that J M Smucker Co will post 8.4 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Friday, November 16th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $3.40 annualized dividend and a yield of 3.01%. J M Smucker’s dividend payout ratio (DPR) is presently 42.71%.
A number of research analysts recently issued reports on SJM shares. Wolfe Research cut shares of J M Smucker from a “peer perform” rating to an “underperform” rating in a research report 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 report on Friday, September 21st. ValuEngine cut shares of J M Smucker from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 23rd. Zacks Investment Research raised shares of J M Smucker from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. Finally, Bank of America reissued a “neutral” rating and set a $106.00 price target on shares of J M Smucker in a research report on Wednesday, October 3rd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $120.62.
In other J M Smucker news, SVP Jeannette L. Knudsen sold 1,500 shares of J M Smucker stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $110.74, for a total value 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 $2,904,045.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.92% of the stock is currently owned by insiders.
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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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