Sumitomo Mitsui Trust Holdings Inc. grew its stake in J M Smucker Co (NYSE:SJM) by 6.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 536,159 shares of the company’s stock after acquiring an additional 32,319 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.47% of J M Smucker worth $56,731,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in SJM. Norges Bank bought a new stake in J M Smucker in the fourth quarter worth $112,490,000. Invesco Ltd. boosted its holdings in J M Smucker by 61.4% in the first quarter. Invesco Ltd. now owns 1,276,313 shares of the company’s stock worth $141,672,000 after acquiring an additional 485,344 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in J M Smucker by 119.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 607,419 shares of the company’s stock worth $64,269,000 after acquiring an additional 331,009 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of J M Smucker by 18.4% during the first quarter. Wells Fargo & Company MN now owns 2,064,468 shares of the company’s stock valued at $229,157,000 after purchasing an additional 320,925 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in shares of J M Smucker during the second quarter valued at $30,976,000. 77.89% of the stock is currently owned by institutional investors and hedge funds.
J M Smucker stock opened at $109.35 on Friday. The stock has a market cap of $12.48 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 6.23 and a beta of 0.13. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.68 and a current ratio of 1.24. J M Smucker Co has a one year low of $91.88 and a one year high of $125.62. The stock has a fifty day moving average of $106.47 and a 200 day 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 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.29. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.05 billion. J M Smucker had a return on equity of 12.31% and a net margin of 9.99%. J M Smucker’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.08 earnings per share. As a group, sell-side analysts predict that J M Smucker Co will post 8.21 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a $0.90 dividend. This is a boost from J M Smucker’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $3.60 dividend on an annualized basis and a yield of 3.29%. J M Smucker’s dividend payout ratio is presently 40.18%.
In other J M Smucker news, CEO Mark T. Smucker sold 1,500 shares of the company’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $110.00, for a total value of $165,000.00. Following the completion of the sale, the chief executive officer now owns 133,779 shares in the company, valued at $14,715,690. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark R. Belgya sold 7,807 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $108.74, for a total value of $848,933.18. Following the completion of the sale, the insider now owns 43,604 shares of the company’s stock, valued at approximately $4,741,498.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,807 shares of company stock valued at $1,178,933. Company insiders own 3.60% of the company’s stock.
A number of brokerages have recently issued reports on SJM. Guggenheim lowered their price target on J M Smucker from $98.00 to $96.00 and set a “sell” rating on the stock in a report on Thursday, May 28th. Stifel Nicolaus upped their price target on J M Smucker from $110.00 to $115.00 and gave the company a “hold” rating in a report on Friday, June 5th. Morgan Stanley lowered their price target on 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. upped their price target on J M Smucker from $108.00 to $123.00 and gave the company a “neutral” rating in a report on Friday, April 17th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $110.00 price target on shares of J M Smucker in a report on Monday, July 13th. Three investment 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. J M Smucker currently has an average rating of “Hold” and an average target price of $113.00.
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.
Further Reading: Capital Gains Distribution
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