Xact Kapitalforvaltning AB trimmed its holdings in shares of J M Smucker Co (NYSE:SJM) by 21.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,162 shares of the company’s stock after selling 7,010 shares during the period. Xact Kapitalforvaltning AB’s holdings in J M Smucker were worth $2,684,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of SJM. Principal Financial Group Inc. raised its stake in shares of J M Smucker by 32.0% during the 1st quarter. Principal Financial Group Inc. now owns 284,361 shares of the company’s stock worth $35,264,000 after buying an additional 68,933 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of J M Smucker by 5.5% during the 1st quarter. Allianz Asset Management GmbH now owns 150,344 shares of the company’s stock worth $18,644,000 after buying an additional 7,866 shares in the last quarter. Clarus Wealth Advisors purchased a new position in shares of J M Smucker during the 2nd quarter worth approximately $109,000. Cardinal Capital Management Inc. raised its stake in shares of J M Smucker by 8.2% during the 2nd quarter. Cardinal Capital Management Inc. now owns 125,845 shares of the company’s stock worth $13,526,000 after buying an additional 9,585 shares in the last quarter. Finally, Tandem Investment Advisors Inc. raised its stake in shares of J M Smucker by 35.8% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 115,157 shares of the company’s stock worth $12,377,000 after buying an additional 30,369 shares in the last quarter. 82.61% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on SJM shares. Credit Suisse Group set a $95.00 target price on J M Smucker and gave the stock a “sell” rating in a research note on Friday, September 21st. Wolfe Research downgraded J M Smucker from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, September 26th. Zacks Investment Research raised J M Smucker from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. Bank of America reissued a “neutral” rating and set a $106.00 target price on shares of J M Smucker in a research note on Wednesday, October 3rd. Finally, ValuEngine downgraded J M Smucker from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 23rd. Four analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. J M Smucker currently has an average rating of “Hold” and a consensus price target of $120.62.
J M Smucker (NYSE:SJM) last released its quarterly earnings data on Tuesday, August 21st. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.02. J M Smucker had a return on equity of 12.20% and a net margin of 17.91%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the business posted $0.96 EPS. J M Smucker’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities research analysts expect that J M Smucker Co will post 8.4 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 16th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.14%. The ex-dividend date is Thursday, November 15th. J M Smucker’s payout ratio is currently 42.71%.
In related news, SVP Jeannette L. Knudsen sold 1,500 shares of the firm’s stock in a transaction that occurred on 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 directly owns 26,224 shares of the company’s stock, valued at approximately $2,904,045.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.92% of the company’s stock.
J M Smucker Company Profile
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.
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