Putnam FL Investment Management Co. Increases Holdings in J M Smucker Co (NYSE:SJM)

Putnam FL Investment Management Co. lifted its position in J M Smucker Co (NYSE:SJM) by 7.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,905 shares of the company’s stock after purchasing an additional 197 shares during the period. Putnam FL Investment Management Co.’s holdings in J M Smucker were worth $335,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in shares of J M Smucker by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,792,424 shares of the company’s stock valued at $167,581,000 after buying an additional 13,573 shares during the period. Geode Capital Management LLC raised its stake in shares of J M Smucker by 12.1% in the fourth quarter. Geode Capital Management LLC now owns 1,582,207 shares of the company’s stock valued at $147,679,000 after buying an additional 171,185 shares during the period. Dalton Greiner Hartman Maher & Co. raised its stake in shares of J M Smucker by 364.1% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 68,311 shares of the company’s stock valued at $7,958,000 after buying an additional 53,591 shares during the period. Legacy Advisors LLC bought a new stake in shares of J M Smucker in the first quarter valued at $68,000. Finally, Exeter Financial LLC raised its stake in shares of J M Smucker by 6.7% in the first quarter. Exeter Financial LLC now owns 7,652 shares of the company’s stock valued at $891,000 after buying an additional 482 shares during the period. Hedge funds and other institutional investors own 77.46% of the company’s stock.

A number of research firms recently issued reports on SJM. Zacks Investment Research lowered J M Smucker from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. ValuEngine lowered J M Smucker from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Morgan Stanley boosted their price objective on J M Smucker from $117.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, June 7th. Bank of America reiterated a “neutral” rating and set a $107.00 price objective on shares of J M Smucker in a research note on Friday, May 17th. Finally, Credit Suisse Group decreased their price objective on J M Smucker from $120.00 to $114.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $115.44.

Shares of NYSE:SJM traded down $0.63 during midday trading on Wednesday, reaching $110.04. 21,251 shares of the company traded hands, compared to its average volume of 779,725. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.59. J M Smucker Co has a 12 month low of $91.32 and a 12 month high of $128.43. The company has a market capitalization of $12.62 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 3.27 and a beta of 0.42. The business’s fifty day moving average price is $116.06.

J M Smucker (NYSE:SJM) last released its quarterly earnings data on Thursday, June 6th. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.11. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. J M Smucker had a return on equity of 11.80% and a net margin of 6.56%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.93 EPS. As a group, equities analysts anticipate that J M Smucker Co will post 8.52 earnings per share for the current 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 is a positive change from J M Smucker’s previous quarterly dividend of $0.85. This represents a $3.52 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Thursday, August 15th. J M Smucker’s dividend payout ratio is currently 41.01%.

In other J M Smucker news, insider Mark R. Belgya sold 750 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $113.28, for a total value of $84,960.00. Following the transaction, the insider now directly owns 54,942 shares in the company, valued at approximately $6,223,829.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Stanziano sold 319 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $119.20, for a total value of $38,024.80. Following the completion of the transaction, the insider now owns 14,857 shares in the company, valued at $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 90 days. 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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Institutional Ownership by Quarter for J M Smucker (NYSE:SJM)

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