J M Smucker Co (SJM) Holdings Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in J M Smucker Co (NYSE:SJM) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 832,368 shares of the company’s stock after buying an additional 7,447 shares during the quarter. Bank of New York Mellon Corp owned 0.73% of J M Smucker worth $89,465,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SJM. Schroder Investment Management Group raised its position in 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 worth $69,781,000 after buying an additional 595,400 shares during the last quarter. Unigestion Holding SA purchased a new position in J M Smucker in the 2nd quarter worth about $58,578,000. BlackRock Inc. raised its position in J M Smucker by 5.4% in the 2nd quarter. BlackRock Inc. now owns 9,452,323 shares of the company’s stock worth $1,015,934,000 after buying an additional 484,096 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of J M Smucker during the 2nd quarter valued at about $51,752,000. Finally, Thompson Siegel & Walmsley LLC grew its stake in shares of J M Smucker by 88.0% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 700,106 shares of the company’s stock valued at $75,248,000 after purchasing an additional 327,621 shares during the period. 82.88% of the stock is owned by institutional investors and hedge funds.

A number of research firms have issued reports on SJM. ValuEngine upgraded J M Smucker from a “sell” rating to a “hold” rating in a research note on Monday, October 22nd. Zacks Investment Research downgraded J M Smucker from a “hold” rating to a “sell” rating in a research note on Friday, August 24th. Bank of America restated a “neutral” rating and set a $106.00 price target on shares of J M Smucker in a research note on Wednesday, October 3rd. Credit Suisse Group set a $95.00 price target on J M Smucker and gave the company a “sell” rating in a research note on Friday, September 21st. Finally, Wolfe Research downgraded J M Smucker from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, September 26th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $120.62.

J M Smucker stock opened at $112.88 on Friday. The stock has a market cap of $12.50 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 2.05 and a beta of 0.35. The company has a quick ratio of 0.51, a current ratio of 1.17 and a debt-to-equity ratio of 0.78. J M Smucker Co has a 52-week low of $96.13 and a 52-week high of $133.38.

J M Smucker (NYSE:SJM) last announced its quarterly earnings data on Tuesday, August 21st. The company reported $1.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.76 by $0.02. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate 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 revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 EPS. On average, sell-side analysts expect that J M Smucker Co will post 8.4 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 16th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, November 15th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.01%. J M Smucker’s dividend payout ratio (DPR) is presently 42.71%.

In related news, SVP Jeannette L. Knudsen sold 1,500 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $2,904,045.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.92% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “J M Smucker Co (SJM) Holdings Boosted by Bank of New York Mellon Corp” was first published by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another website, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2018/11/10/j-m-smucker-co-sjm-holdings-boosted-by-bank-of-new-york-mellon-corp.html.

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.

Further Reading: Day Trading – Risk Worth the Reward?

Want to see what other hedge funds are holding SJM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for J M Smucker Co (NYSE:SJM).

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

Receive News & Ratings for J M Smucker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J M Smucker and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply