California State Teachers Retirement System lowered its stake in shares of J M Smucker Co (NYSE:SJM) by 9.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,623 shares of the company’s stock after selling 21,183 shares during the period. California State Teachers Retirement System owned 0.17% of J M Smucker worth $20,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in the company. Schroder Investment Management Group increased its position in J M Smucker by 7,253.2% in the second quarter. Schroder Investment Management Group now owns 1,166,740 shares of the company’s stock worth $137,699,000 after purchasing an additional 1,150,873 shares during the last quarter. BlackRock Inc. increased its position in J M Smucker by 7.6% in the second quarter. BlackRock Inc. now owns 8,162,040 shares of the company’s stock worth $965,814,000 after purchasing an additional 578,984 shares during the last quarter. Koch Industries Inc. bought a new stake in J M Smucker in the second quarter worth $495,000. Renaissance Technologies LLC bought a new stake in J M Smucker in the second quarter worth $54,456,000. Finally, Parametric Portfolio Associates LLC increased its position in J M Smucker by 251.1% in the second quarter. Parametric Portfolio Associates LLC now owns 642,552 shares of the company’s stock worth $76,033,000 after purchasing an additional 459,528 shares during the last quarter. Hedge funds and other institutional investors own 75.02% of the company’s stock.
Several brokerages recently weighed in on SJM. Susquehanna Bancshares set a $131.00 price target on shares of J M Smucker and gave the stock a “hold” rating in a research report on Wednesday, August 23rd. J P Morgan Chase & Co cut shares of J M Smucker from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $135.00 to $116.00 in a research report on Thursday, August 24th. Credit Suisse Group set a $110.00 price objective on shares of J M Smucker and gave the company a “hold” rating in a research report on Friday, November 17th. Morgan Stanley set a $112.00 price objective on shares of J M Smucker and gave the company a “sell” rating in a research report on Friday, November 17th. Finally, Stifel Nicolaus boosted their price objective on shares of J M Smucker from $109.00 to $113.00 and gave the company a “hold” rating in a research report on Friday, November 17th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $126.00.
J M Smucker (NYSE:SJM) last posted its quarterly earnings data on Thursday, November 16th. The company reported $2.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.12. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.90 billion. J M Smucker had a net margin of 7.72% and a return on equity of 11.98%. The business’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 earnings per share. equities research analysts expect that J M Smucker Co will post 7.8 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Thursday, November 9th. J M Smucker’s dividend payout ratio is currently 63.03%.
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J M Smucker 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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