J.M. Smucker Company (The) (SJM) Shares Sold by Westpac Banking Corp

Westpac Banking Corp lowered its stake in shares of J.M. Smucker Company (The) (NYSE:SJM) by 20.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,966 shares of the company’s stock after selling 1,747 shares during the period. Westpac Banking Corp’s holdings in J.M. Smucker Company (The) were worth $824,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC purchased a new stake in J.M. Smucker Company (The) during the first quarter worth about $126,000. Paradigm Asset Management Co. LLC boosted its holdings in J.M. Smucker Company (The) by 4.5% during the second quarter. Paradigm Asset Management Co. LLC now owns 1,150 shares of the company’s stock worth $136,000 after buying an additional 50 shares in the last quarter. Allegis Investment Advisors LLC purchased a new stake in J.M. Smucker Company (The) during the second quarter worth about $205,000. First National Trust Co. purchased a new stake in J.M. Smucker Company (The) during the second quarter worth about $215,000. Finally, Schnieders Capital Management LLC purchased a new stake in J.M. Smucker Company (The) during the first quarter worth about $217,000. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently commented on SJM. Zacks Investment Research downgraded shares of J.M. Smucker Company (The) from a “hold” rating to a “sell” rating in a report on Tuesday, August 29th. BidaskClub downgraded shares of J.M. Smucker Company (The) from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Citigroup Inc. decreased their price objective on shares of J.M. Smucker Company (The) from $155.00 to $133.00 and set a “buy” rating on the stock in a report on Friday, August 25th. Morgan Stanley reissued a “sell” rating and set a $108.00 price objective (down previously from $114.00) on shares of J.M. Smucker Company (The) in a report on Friday, August 25th. Finally, Credit Suisse Group set a $110.00 price objective on shares of J.M. Smucker Company (The) and gave the stock a “hold” rating in a report on Friday, August 25th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $126.73.

J.M. Smucker Company (NYSE:SJM) opened at 107.10 on Tuesday. The firm has a market cap of $12.16 billion, a PE ratio of 22.50 and a beta of 0.62. J.M. Smucker Company has a 12 month low of $103.50 and a 12 month high of $143.68. The firm’s 50-day moving average is $116.44 and its 200-day moving average is $124.98.

J.M. Smucker Company (The) (NYSE:SJM) last posted its quarterly earnings data on Thursday, August 24th. The company reported $1.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by $0.10. J.M. Smucker Company (The) had a net margin of 7.50% and a return on equity of 12.06%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter last year, the business posted $1.86 EPS. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities analysts expect that J.M. Smucker Company will post $7.74 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.91%. This is a boost from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Wednesday, August 9th. J.M. Smucker Company (The)’s dividend payout ratio (DPR) is presently 65.55%.

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In other J.M. Smucker Company (The) news, insider Steven Oakland sold 6,047 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $122.00, for a total value of $737,734.00. Following the completion of the transaction, the insider now directly owns 47,667 shares in the company, valued at $5,815,374. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Richard K. Smucker bought 10,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was purchased at an average price of $105.40 per share, with a total value of $1,054,000.00. Following the completion of the acquisition, the insider now owns 652,168 shares of the company’s stock, valued at $68,738,507.20. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 16,030 shares of company stock valued at $1,948,195. Corporate insiders own 3.50% of the company’s stock.

J.M. Smucker Company (The) Company Profile

The J. M. Smucker Company is a manufacturer and marketer of branded food and beverage products and pet food and pet snacks in North America. The Company’s segments include U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Foodservice. The Company’s U.S. retail market segments consist of the sale of branded food products to consumers through retail outlets in North America.

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

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