World Asset Management Inc raised its position in J M Smucker Co (NYSE:SJM) by 2.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,190 shares of the company’s stock after acquiring an additional 213 shares during the quarter. World Asset Management Inc’s holdings in J M Smucker were worth $943,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. LSV Asset Management boosted its holdings in J M Smucker by 51.7% in the 1st quarter. LSV Asset Management now owns 3,823,806 shares of the company’s stock worth $445,473,000 after buying an additional 1,303,090 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in J M Smucker by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,792,424 shares of the company’s stock worth $167,581,000 after buying an additional 13,573 shares during the last quarter. Geode Capital Management LLC boosted its holdings in J M Smucker by 12.1% in the 4th quarter. Geode Capital Management LLC now owns 1,582,207 shares of the company’s stock worth $147,679,000 after buying an additional 171,185 shares during the last quarter. Coho Partners Ltd. boosted its holdings in J M Smucker by 8.9% in the 1st quarter. Coho Partners Ltd. now owns 1,519,092 shares of the company’s stock worth $176,974,000 after buying an additional 124,507 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in J M Smucker by 1.8% in the 1st quarter. Northern Trust Corp now owns 1,480,323 shares of the company’s stock worth $172,457,000 after buying an additional 26,589 shares during the last quarter. Institutional investors own 77.54% of the company’s stock.
Several equities research analysts recently issued reports on the company. Bank of America reiterated a “neutral” rating and issued a $107.00 price objective on shares of J M Smucker in a report on Friday, May 17th. ValuEngine cut J M Smucker from a “hold” rating to a “sell” rating in a report on Thursday. Wells Fargo & Co lifted their price objective on J M Smucker from $110.00 to $114.00 and gave the stock a “market perform” rating in a report on Friday, June 7th. Morgan Stanley lifted their price objective on J M Smucker from $117.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, June 7th. Finally, Zacks Investment Research lowered shares of J M Smucker from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $115.44.
J M Smucker (NYSE:SJM) last released its earnings results on Thursday, June 6th. The company reported $2.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.11. J M Smucker had a net margin of 6.56% and a return on equity of 11.80%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company posted $1.93 EPS. The business’s revenue was up 6.8% on a year-over-year basis. On average, equities analysts expect that J M Smucker Co will post 8.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 3.14%. This is a positive change from J M Smucker’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, August 15th. J M Smucker’s dividend payout ratio (DPR) is 41.01%.
In other news, insider Mark R. Belgya sold 750 shares of J M Smucker stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $113.28, for a total transaction of $84,960.00. Following the sale, the insider now owns 54,942 shares of the company’s stock, valued at approximately $6,223,829.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph Stanziano sold 319 shares of J M Smucker stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $119.20, for a total transaction of $38,024.80. Following the sale, the insider now directly owns 14,857 shares in the company, valued at approximately $1,770,954.40. The disclosure for this sale can be found here. Insiders sold a total of 3,269 shares of company stock worth $372,201 over the last three months. Corporate insiders own 3.70% of the company’s stock.
J M Smucker Company 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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