Sterling Capital Management LLC boosted its stake in shares of J M Smucker Co (NYSE:SJM) by 59.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,693 shares of the company’s stock after purchasing an additional 3,969 shares during the quarter. Sterling Capital Management LLC’s holdings in J M Smucker were worth $1,097,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in SJM. Cognios Capital LLC boosted its position in J M Smucker by 538.8% during the 3rd quarter. Cognios Capital LLC now owns 15,937 shares of the company’s stock worth $1,634,000 after acquiring an additional 13,442 shares during the period. Victory Capital Management Inc. boosted its position in J M Smucker by 46.7% during the 3rd quarter. Victory Capital Management Inc. now owns 115,916 shares of the company’s stock worth $11,894,000 after acquiring an additional 36,893 shares during the period. Speece Thorson Capital Group Inc. boosted its position in J M Smucker by 0.8% during the 3rd quarter. Speece Thorson Capital Group Inc. now owns 109,315 shares of the company’s stock worth $11,217,000 after acquiring an additional 905 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in J M Smucker by 10.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 106,503 shares of the company’s stock worth $10,927,000 after acquiring an additional 9,779 shares during the period. Finally, Regentatlantic Capital LLC boosted its position in J M Smucker by 5.9% during the 3rd quarter. Regentatlantic Capital LLC now owns 26,229 shares of the company’s stock worth $2,691,000 after acquiring an additional 1,471 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.
A number of brokerages have issued reports on SJM. ValuEngine upgraded J M Smucker from a “sell” rating to a “hold” rating in a research report on Monday, October 22nd. Bank of America reiterated a “neutral” rating and set a $106.00 price target on shares of J M Smucker in a research report on Wednesday, October 3rd. Wolfe Research lowered 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 J M Smucker and gave the stock a “sell” rating in a research report on Friday, September 21st. Finally, Zacks Investment Research upgraded J M Smucker from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. Four 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’s stock. J M Smucker currently has an average rating of “Hold” and a consensus target price of $120.62.
Shares of J M Smucker stock opened at $112.88 on Friday. The company has a quick ratio of 0.51, a current ratio of 1.17 and a debt-to-equity ratio of 0.78. The firm has a market capitalization 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 fifty-two week low of $96.13 and a fifty-two 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 for the quarter, beating the Thomson Reuters’ consensus estimate of $1.76 by $0.02. The business 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 company’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.96 earnings per share. Equities analysts anticipate that J M Smucker Co will post 8.4 earnings per share 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 issued a $0.85 dividend. The ex-dividend date is Thursday, November 15th. This represents a $3.40 annualized dividend and a dividend yield of 3.01%. J M Smucker’s dividend payout ratio (DPR) is 42.71%.
In other news, SVP Jeannette L. Knudsen sold 1,500 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $110.74, for a total value of $166,110.00. Following the completion of the sale, the senior vice president now owns 26,224 shares in the company, valued at $2,904,045.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.92% of the company’s stock.
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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