Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its position in The J. M. Smucker Company (NYSE:SJM) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,577 shares of the company’s stock after selling 153 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in J. M. Smucker were worth $1,630,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. ARGI Investment Services LLC increased its holdings in shares of J. M. Smucker by 3.4% in the 3rd quarter. ARGI Investment Services LLC now owns 7,538 shares of the company’s stock worth $905,000 after acquiring an additional 245 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of J. M. Smucker by 48.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 327,886 shares of the company’s stock worth $39,356,000 after acquiring an additional 106,605 shares during the period. IndexIQ Advisors LLC increased its holdings in shares of J. M. Smucker by 5.3% in the 3rd quarter. IndexIQ Advisors LLC now owns 1,820 shares of the company’s stock worth $218,000 after acquiring an additional 91 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of J. M. Smucker by 0.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 48,614 shares of the company’s stock worth $5,835,000 after acquiring an additional 412 shares during the period. Finally, Financial Advantage Inc. increased its holdings in shares of J. M. Smucker by 0.9% in the 3rd quarter. Financial Advantage Inc. now owns 23,369 shares of the company’s stock worth $2,804,000 after acquiring an additional 207 shares during the period. 83.30% of the stock is currently owned by institutional investors and hedge funds.
NYSE:SJM opened at $143.22 on Friday. The J. M. Smucker Company has a twelve month low of $111.59 and a twelve month high of $145.82. The company has a current ratio of 1.06, a quick ratio of 0.48 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average of $134.77 and a 200-day moving average of $128.88. The firm has a market cap of $15.52 billion, a price-to-earnings ratio of 20.49 and a beta of 0.34.
J. M. Smucker (NYSE:SJM) last announced its earnings results on Tuesday, November 23rd. The company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.04 by $0.39. J. M. Smucker had a net margin of 9.72% and a return on equity of 11.60%. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the company posted $2.39 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. On average, research analysts forecast that The J. M. Smucker Company will post 8.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 1st. Shareholders of record on Friday, February 11th will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 2.76%. J. M. Smucker’s payout ratio is 56.65%.
J. M. Smucker announced that its board has approved a stock repurchase program on Friday, October 22nd that authorizes the company to buyback 5,000,000 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.
SJM has been the topic of several research analyst reports. Credit Suisse Group raised their target price on shares of J. M. Smucker from $125.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, November 24th. Morgan Stanley raised their target price on shares of J. M. Smucker from $125.00 to $130.00 and gave the company an “underweight” rating in a research note on Tuesday, January 11th. Citigroup raised their target price on shares of J. M. Smucker from $132.00 to $138.00 and gave the company a “neutral” rating in a research note on Wednesday, November 24th. Guggenheim raised shares of J. M. Smucker from a “neutral” rating to a “buy” rating and raised their target price for the company from $136.00 to $146.00 in a research note on Tuesday, November 9th. Finally, Stifel Nicolaus raised their target price on shares of J. M. Smucker from $125.00 to $136.00 and gave the company a “hold” rating in a research note on Wednesday, November 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, J. M. Smucker has a consensus rating of “Hold” and a consensus price target of $136.90.
In related news, CFO Tucker H. Marshall sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 17th. The shares were sold at an average price of $138.97, for a total transaction of $1,389,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Geoff E. Tanner sold 10,039 shares of the firm’s stock in a transaction that occurred on Friday, December 17th. The stock was sold at an average price of $138.23, for a total transaction of $1,387,690.97. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
J. M. Smucker Profile
The J. M. Smucker Co engages in the manufacture and marketing of 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 domestic sales of Folgers, Dunkin’ Donuts, and Café Bustelo branded coffee.
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