American International Group Inc. Increases Holdings in J M Smucker Co (SJM)

American International Group Inc. raised its holdings in shares of J M Smucker Co (NYSE:SJM) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,182 shares of the company’s stock after purchasing an additional 2,673 shares during the quarter. American International Group Inc.’s holdings in J M Smucker were worth $4,841,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. CSat Investment Advisory L.P. acquired a new stake in J M Smucker during the 2nd quarter valued at $122,000. Truvestments Capital LLC acquired a new stake in shares of J M Smucker during the third quarter worth $154,000. CWM LLC lifted its holdings in shares of J M Smucker by 347.5% during the third quarter. CWM LLC now owns 1,763 shares of the company’s stock worth $181,000 after buying an additional 1,369 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of J M Smucker during the second quarter worth $194,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of J M Smucker during the second quarter worth $202,000. 79.44% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on SJM. Zacks Investment Research raised J M Smucker from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. ValuEngine downgraded J M Smucker from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. Morgan Stanley dropped their target price on J M Smucker from $100.00 to $98.00 and set an “underweight” rating for the company in a report on Thursday, November 29th. Credit Suisse Group raised J M Smucker to a “hold” rating and set a $94.00 target price for the company in a report on Thursday, November 29th. Finally, Jefferies Financial Group set a $125.00 target price on J M Smucker and gave the stock a “buy” rating in a report on Wednesday, November 28th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. J M Smucker currently has an average rating of “Hold” and an average target price of $117.33.

In related news, SVP Jeannette L. Knudsen sold 1,500 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 26,224 shares of the company’s stock, valued at $2,904,045.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Richard K. Smucker purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 30th. The stock was bought at an average cost of $103.09 per share, with a total value of $2,061,800.00. Following the purchase, the chairman now owns 681,387 shares of the company’s stock, valued at $70,244,185.83. The disclosure for this purchase can be found here. 3.92% of the stock is owned by insiders.

SJM stock opened at $98.17 on Friday. The stock has a market capitalization of $11.63 billion, a P/E ratio of 12.33, a P/E/G ratio of 2.15 and a beta of 0.38. 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 0.73, a current ratio of 1.25 and a quick ratio of 0.57.

J M Smucker (NYSE:SJM) last posted its quarterly earnings results on Wednesday, November 28th. The company reported $2.17 EPS for the quarter, missing the Zacks’ consensus estimate of $2.29 by ($0.12). The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.05 billion. J M Smucker had a net margin of 17.59% and a return on equity of 12.03%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $2.02 EPS. On average, sell-side analysts predict that J M Smucker Co will post 7.99 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Friday, November 16th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Thursday, November 15th. J M Smucker’s dividend payout ratio (DPR) is presently 42.71%.

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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.

See Also: Leveraged Buyout (LBO)

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

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