Pacer Advisors Inc. Grows Holdings in J.M. Smucker Company (The) (SJM)

Pacer Advisors Inc. grew its holdings in shares of J.M. Smucker Company (The) (NYSE:SJM) by 8.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,648 shares of the company’s stock after buying an additional 203 shares during the quarter. Pacer Advisors Inc.’s holdings in J.M. Smucker Company (The) were worth $313,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in J.M. Smucker Company (The) by 24.3% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,077 shares of the company’s stock worth $3,204,000 after buying an additional 5,286 shares during the period. Airain ltd purchased a new stake in J.M. Smucker Company (The) during the second quarter worth approximately $3,829,000. USS Investment Management Ltd grew its stake in J.M. Smucker Company (The) by 11.5% during the second quarter. USS Investment Management Ltd now owns 204,000 shares of the company’s stock worth $24,138,000 after buying an additional 21,100 shares during the period. Prudential Financial Inc. grew its stake in J.M. Smucker Company (The) by 10.1% during the second quarter. Prudential Financial Inc. now owns 182,242 shares of the company’s stock worth $21,565,000 after buying an additional 16,730 shares during the period. Finally, Coho Partners Ltd. grew its stake in J.M. Smucker Company (The) by 24.9% during the second quarter. Coho Partners Ltd. now owns 1,048,589 shares of the company’s stock worth $124,080,000 after buying an additional 209,128 shares during the period. Institutional investors own 73.46% of the company’s stock.

SJM has been the subject of several research reports. Stephens downgraded shares of J.M. Smucker Company (The) from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $165.00 to $125.00 in a research note on Wednesday, July 19th. Morgan Stanley reiterated an “underweight” rating and set a $114.00 price objective (down from $126.00) on shares of J.M. Smucker Company (The) in a research note on Tuesday, July 18th. Hilliard Lyons upgraded shares of J.M. Smucker Company (The) from a “neutral” rating to a “long-term buy” rating and set a $140.00 price objective for the company in a research note on Tuesday, July 11th. They noted that the move was a valuation call. BidaskClub upgraded shares of J.M. Smucker Company (The) from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. Finally, Zacks Investment Research downgraded shares of J.M. Smucker Company (The) from a “hold” rating to a “sell” rating in a research note on Tuesday, August 29th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $126.73.

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

J.M. Smucker Company (NYSE:SJM) opened at 107.75 on Wednesday. J.M. Smucker Company has a 52 week low of $103.50 and a 52 week high of $143.68. The stock has a market capitalization of $12.23 billion, a P/E ratio of 22.64 and a beta of 0.62. The stock has a 50 day moving average of $116.17 and a 200 day moving average of $124.85.

J.M. Smucker Company (The) (NYSE:SJM) last announced its quarterly earnings results on Thursday, August 24th. The company reported $1.51 EPS for the quarter, missing the 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 company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the business earned $1.86 EPS. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities research analysts predict that J.M. Smucker Company will post $7.74 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Wednesday, August 9th. This is an increase from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. J.M. Smucker Company (The)’s dividend payout ratio (DPR) is 65.55%.

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About J.M. Smucker Company (The)

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.

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

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