Canada Pension Plan Investment Board raised its stake in shares of J M Smucker Co (NYSE:SJM) by 267.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,561 shares of the company’s stock after purchasing an additional 30,985 shares during the period. Canada Pension Plan Investment Board’s holdings in J M Smucker were worth $4,503,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in J M Smucker by 13.7% during the first quarter. JPMorgan Chase & Co. now owns 209,636 shares of the company’s stock worth $23,270,000 after purchasing an additional 25,232 shares during the last quarter. Schroder Investment Management Group increased its position in shares of J M Smucker by 382.5% in the first quarter. Schroder Investment Management Group now owns 1,954 shares of the company’s stock worth $225,000 after acquiring an additional 1,549 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of J M Smucker in the second quarter worth $1,914,000. APG Asset Management N.V. acquired a new stake in shares of J M Smucker in the first quarter worth $26,599,000. Finally, Victory Capital Management Inc. increased its position in shares of J M Smucker by 14.4% in the first quarter. Victory Capital Management Inc. now owns 273,200 shares of the company’s stock worth $30,325,000 after acquiring an additional 34,322 shares in the last quarter. 80.53% of the stock is owned by hedge funds and other institutional investors.
In other J M Smucker news, insider Mark R. Belgya sold 4,103 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $121.46, for a total transaction of $498,350.38. Following the transaction, the insider now owns 17,630 shares of the company’s stock, valued at approximately $2,141,339.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeannette L. Knudsen sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $119.98, for a total transaction of $359,940.00. Following the transaction, the insider now directly owns 23,837 shares in the company, valued at approximately $2,859,963.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,353 shares of company stock worth $1,105,790. Corporate insiders own 3.60% of the company’s stock.
NYSE SJM opened at $112.40 on Wednesday. J M Smucker Co has a 12 month low of $91.88 and a 12 month high of $125.62. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.96 and a quick ratio of 0.48. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 6.05 and a beta of 0.23. The company’s fifty day moving average price is $114.17 and its two-hundred day moving average price is $110.99.
J M Smucker (NYSE:SJM) last posted its quarterly earnings data on Tuesday, August 25th. The company reported $2.37 EPS for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.70. J M Smucker had a net margin of 10.78% and a return on equity of 13.28%. The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the firm posted $1.57 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. As a group, analysts anticipate that J M Smucker Co will post 8.67 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Thursday, August 13th. This is a boost from J M Smucker’s previous quarterly dividend of $0.88. J M Smucker’s dividend payout ratio (DPR) is 41.10%.
Several equities research analysts have recently issued reports on SJM shares. Barclays reissued a “hold” rating and issued a $125.00 price objective on shares of J M Smucker in a research report on Thursday, August 27th. Bank of America upped their target price on shares of J M Smucker from $120.00 to $124.00 and gave the company a “neutral” rating in a research note on Wednesday, August 26th. Guggenheim upgraded shares of J M Smucker from a “sell” rating to a “neutral” rating and upped their target price for the company from $97.00 to $117.00 in a research note on Tuesday, August 25th. Credit Suisse Group upped their target price on shares of J M Smucker from $120.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 26th. Finally, Stifel Nicolaus upped their target price on shares of J M Smucker from $110.00 to $115.00 and gave the company a “hold” rating in a research note on Friday, June 5th. Three analysts have rated the stock with a sell rating and ten have given a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $115.73.
J M Smucker Profile
The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.
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