Canada Pension Plan Investment Board grew its position in J M Smucker Co (NYSE:SJM) by 267.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,561 shares of the company’s stock after purchasing an additional 30,985 shares during the period. Canada Pension Plan Investment Board’s holdings in J M Smucker were worth $4,503,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Enterprise Financial Services Corp boosted its stake in shares of J M Smucker by 153.8% in the 1st quarter. Enterprise Financial Services Corp now owns 297 shares of the company’s stock valued at $33,000 after purchasing an additional 180 shares in the last quarter. NewSquare Capital LLC acquired a new stake in shares of J M Smucker in the 1st quarter valued at $44,000. NuWave Investment Management LLC acquired a new stake in shares of J M Smucker in the 2nd quarter valued at $55,000. WASHINGTON TRUST Co acquired a new stake in shares of J M Smucker in the 1st quarter valued at $56,000. Finally, Royal Fund Management LLC bought a new position in shares of J M Smucker in the first quarter valued at about $56,000. Institutional investors own 80.53% of the company’s stock.
Shares of NYSE:SJM opened at $112.40 on Wednesday. The stock has a market capitalization of $12.82 billion, a P/E ratio of 14.89, a P/E/G ratio of 6.05 and a beta of 0.23. J M Smucker Co has a 1-year low of $91.88 and a 1-year high of $125.62. The company has a current ratio of 0.96, a quick ratio of 0.48 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $114.17 and a two-hundred day moving average price of $110.99.
J M Smucker (NYSE:SJM) last announced its quarterly earnings data on Tuesday, August 25th. The company reported $2.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.70. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. J M Smucker had a return on equity of 13.28% and a net margin of 10.78%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.57 EPS. As a group, equities analysts predict that J M Smucker Co will post 8.67 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were given a dividend of $0.90 per share. This is a positive change from J M Smucker’s previous quarterly dividend of $0.88. This represents a $3.60 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend was Thursday, August 13th. J M Smucker’s payout ratio is presently 41.10%.
In other news, insider Jeannette L. Knudsen sold 3,000 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $119.98, for a total transaction of $359,940.00. Following the completion of the transaction, the insider now directly owns 23,837 shares in the company, valued at approximately $2,859,963.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark R. Belgya sold 4,103 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $121.46, for a total value of $498,350.38. Following the transaction, the insider now owns 17,630 shares of the company’s stock, valued at $2,141,339.80. The disclosure for this sale can be found here. Insiders have sold a total of 9,353 shares of company stock valued at $1,105,790 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.
A number of research firms recently issued reports on SJM. Credit Suisse Group lifted their price target on J M Smucker from $120.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 26th. Sanford C. Bernstein cut J M Smucker from a “market perform” rating to an “underperform” rating and cut their price target for the company from $105.00 to $93.00 in a report on Thursday, June 11th. ValuEngine cut J M Smucker from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. Guggenheim raised J M Smucker from a “sell” rating to a “neutral” rating and lifted their price target for the company from $97.00 to $117.00 in a report on Tuesday, August 25th. Finally, Barclays reaffirmed a “hold” rating and issued a $125.00 price target on shares of J M Smucker in a report on Thursday, August 27th. Three equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $115.73.
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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