US Bancorp DE reduced its stake in shares of J M Smucker Co (NYSE:SJM) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,506 shares of the company’s stock after selling 3,360 shares during the period. US Bancorp DE owned 0.08% of J M Smucker worth $8,774,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in SJM. Trust Co. of Vermont raised its holdings in J M Smucker by 6.5% in the second quarter. Trust Co. of Vermont now owns 7,908 shares of the company’s stock valued at $850,000 after buying an additional 486 shares during the period. Dana Investment Advisors Inc. raised its holdings in J M Smucker by 11.9% in the second quarter. Dana Investment Advisors Inc. now owns 4,575 shares of the company’s stock valued at $492,000 after buying an additional 488 shares during the period. Middleton & Co Inc MA raised its holdings in J M Smucker by 1.6% in the second quarter. Middleton & Co Inc MA now owns 30,952 shares of the company’s stock valued at $3,327,000 after buying an additional 494 shares during the period. Amalgamated Bank raised its holdings in J M Smucker by 3.7% in the second quarter. Amalgamated Bank now owns 14,214 shares of the company’s stock valued at $1,528,000 after buying an additional 501 shares during the period. Finally, Sumitomo Life Insurance Co. raised its holdings in J M Smucker by 4.5% in the second quarter. Sumitomo Life Insurance Co. now owns 11,880 shares of the company’s stock valued at $1,277,000 after buying an additional 510 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.
In other news, SVP Jeannette L. Knudsen sold 1,500 shares of J M Smucker 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 sale, the senior vice president now owns 26,224 shares in the company, valued at $2,904,045.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.92% of the company’s stock.
SJM opened at $112.88 on Friday. The company has a market cap of $12.60 billion, a PE ratio of 14.18, a PEG ratio of 2.07 and a beta of 0.35. J M Smucker Co has a 52-week low of $96.13 and a 52-week high of $133.38. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.17.
J M Smucker (NYSE:SJM) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.95 billion. J M Smucker had a net margin of 17.91% and a return on equity of 12.20%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 earnings per share. Equities research analysts predict that J M Smucker Co will post 8.4 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Friday, November 16th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend 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 is currently 42.71%.
SJM has been the topic of several research reports. Wolfe Research lowered shares of J M Smucker from a “peer perform” rating to an “underperform” rating in a 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 report on Friday, September 21st. ValuEngine lowered shares of J M Smucker from a “sell” rating to a “strong sell” rating in a report on Thursday, August 23rd. Zacks Investment Research upgraded shares of J M Smucker from a “sell” rating to a “hold” rating in a report on Tuesday, September 11th. Finally, Bank of America restated a “neutral” rating and issued a $106.00 price target on shares of J M Smucker in a report on Wednesday, October 3rd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. J M Smucker currently has an average rating of “Hold” and an average target price of $120.62.
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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