Commonwealth Equity Services LLC Has $7.57 Million Stake in J M Smucker Co (NYSE:SJM)

Commonwealth Equity Services LLC increased its stake in shares of J M Smucker Co (NYSE:SJM) by 2.2% during the 1st quarter, Holdings Channel reports. The firm owned 64,988 shares of the company’s stock after purchasing an additional 1,400 shares during the quarter. Commonwealth Equity Services LLC’s holdings in J M Smucker were worth $7,571,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SJM. Malaga Cove Capital LLC grew its position in J M Smucker by 1.0% in the 1st quarter. Malaga Cove Capital LLC now owns 10,034 shares of the company’s stock valued at $1,169,000 after acquiring an additional 97 shares during the last quarter. First National Trust Co grew its position in J M Smucker by 2.8% in the 1st quarter. First National Trust Co now owns 3,539 shares of the company’s stock valued at $413,000 after acquiring an additional 98 shares during the last quarter. Utah Retirement Systems grew its position in J M Smucker by 0.5% in the 4th quarter. Utah Retirement Systems now owns 20,515 shares of the company’s stock valued at $1,918,000 after acquiring an additional 100 shares during the last quarter. Park National Corp OH grew its position in J M Smucker by 2.2% in the 1st quarter. Park National Corp OH now owns 4,722 shares of the company’s stock valued at $550,000 after acquiring an additional 100 shares during the last quarter. Finally, Foster Dykema Cabot & Co. Inc. MA grew its position in J M Smucker by 1.7% in the 1st quarter. Foster Dykema Cabot & Co. Inc. MA now owns 5,903 shares of the company’s stock valued at $688,000 after acquiring an additional 100 shares during the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SJM stock opened at $123.11 on Wednesday. J M Smucker Co has a twelve month low of $91.32 and a twelve month high of $128.43. The firm has a market capitalization of $14.01 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 2.84 and a beta of 0.53. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.69 and a quick ratio of 0.31.

J M Smucker (NYSE:SJM) last issued its earnings results on Thursday, June 6th. The company reported $2.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.11. J M Smucker had a return on equity of 11.80% and a net margin of 6.56%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the business earned $1.93 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities analysts forecast that J M Smucker Co will post 8.54 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Thursday, May 16th. J M Smucker’s dividend payout ratio (DPR) is currently 41.01%.

SJM has been the subject of several research reports. Zacks Investment Research upgraded J M Smucker from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a report on Wednesday, March 27th. Jefferies Financial Group set a $125.00 target price on J M Smucker and gave the stock a “buy” rating in a report on Tuesday, February 26th. Argus initiated coverage on J M Smucker in a report on Monday, April 1st. They issued a “hold” rating for the company. Morgan Stanley upped their target price on J M Smucker from $98.00 to $104.00 and gave the stock an “underweight” rating in a report on Wednesday, February 27th. Finally, Citigroup upped their target price on J M Smucker from $122.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, February 27th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $116.11.

In related news, SVP Jeannette L. Knudsen sold 1,932 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $102.86, for a total transaction of $198,725.52. Following the completion of the sale, the senior vice president now directly owns 24,292 shares in the company, valued at approximately $2,498,675.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.92% of the company’s stock.

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About J M Smucker

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

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