Zurcher Kantonalbank Zurich Cantonalbank increased its stake in J M Smucker Co (NYSE:SJM) by 35.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,487 shares of the company’s stock after acquiring an additional 11,341 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in J M Smucker were worth $4,601,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in SJM. JPMorgan Chase & Co. lifted its holdings in shares of J M Smucker by 13.7% in the 1st quarter. JPMorgan Chase & Co. now owns 209,636 shares of the company’s stock worth $23,270,000 after purchasing an additional 25,232 shares in the last quarter. Schroder Investment Management Group lifted its stake in shares of J M Smucker by 382.5% in the first quarter. Schroder Investment Management Group now owns 1,954 shares of the company’s stock valued at $225,000 after buying an additional 1,549 shares in the last quarter. APG Asset Management N.V. acquired a new position in shares of J M Smucker during the first quarter valued at about $26,599,000. Franklin Resources Inc. increased its position in shares of J M Smucker by 17.6% during the fourth quarter. Franklin Resources Inc. now owns 70,863 shares of the company’s stock worth $7,379,000 after acquiring an additional 10,611 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of J M Smucker by 14.4% in the 1st quarter. Victory Capital Management Inc. now owns 273,200 shares of the company’s stock worth $30,325,000 after acquiring an additional 34,322 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.
A number of analysts have commented on SJM shares. Deutsche Bank boosted their price objective on J M Smucker from $110.00 to $124.00 and gave the stock a “hold” rating in a report on Tuesday, April 21st. They noted that the move was a valuation call. Morgan Stanley dropped their price objective on shares of J M Smucker from $117.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday, July 13th. JPMorgan Chase & Co. lifted their target price on shares of J M Smucker from $108.00 to $123.00 and gave the stock a “neutral” rating in a research note on Friday, April 17th. Guggenheim dropped their price target on shares of J M Smucker from $98.00 to $96.00 and set a “sell” rating on the stock in a research note on Thursday, May 28th. Finally, ValuEngine downgraded shares of J M Smucker from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. J M Smucker presently has a consensus rating of “Hold” and a consensus price target of $113.00.
Shares of J M Smucker stock opened at $109.35 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.24 and a quick ratio of 0.68. J M Smucker Co has a 1 year low of $91.88 and a 1 year high of $125.62. The firm has a market cap of $12.48 billion, a PE ratio of 16.01, a PEG ratio of 6.17 and a beta of 0.13. The company has a 50 day simple moving average of $106.47 and a two-hundred day simple moving average of $109.34.
J M Smucker (NYSE:SJM) last posted its quarterly earnings data on Thursday, June 4th. The company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.29. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.05 billion. J M Smucker had a net margin of 9.99% and a return on equity of 12.31%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.08 EPS. As a group, research analysts anticipate that J M Smucker Co will post 8.21 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.90 dividend. This is a boost from J M Smucker’s previous quarterly dividend of $0.88. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Thursday, August 13th. J M Smucker’s dividend payout ratio is presently 40.18%.
In related news, insider Mark R. Belgya sold 750 shares of J M Smucker stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $110.00, for a total value of $82,500.00. Following the transaction, the insider now owns 47,442 shares in the company, valued at approximately $5,218,620. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark T. Smucker sold 1,500 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $110.00, for a total transaction of $165,000.00. Following the completion of the sale, the chief executive officer now directly owns 133,779 shares of the company’s stock, valued at $14,715,690. The disclosure for this sale can be found here. Insiders have sold a total of 10,807 shares of company stock worth $1,178,933 over the last quarter. Corporate insiders own 3.60% of the company’s stock.
J M Smucker Profile
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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