Russell Investments Group Ltd. Acquires 157,545 Shares of J M Smucker Co (SJM)

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Russell Investments Group Ltd. boosted its holdings in shares of J M Smucker Co (NYSE:SJM) by 48.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 485,105 shares of the company’s stock after buying an additional 157,545 shares during the quarter. Russell Investments Group Ltd.’s holdings in J M Smucker were worth $49,770,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alpha Windward LLC bought a new stake in J M Smucker during the second quarter valued at approximately $551,000. Tandem Investment Advisors Inc. grew its position in J M Smucker by 6.6% during the third quarter. Tandem Investment Advisors Inc. now owns 122,790 shares of the company’s stock valued at $12,599,000 after buying an additional 7,633 shares during the period. Ariel Investments LLC grew its position in J M Smucker by 6.6% during the second quarter. Ariel Investments LLC now owns 1,767,460 shares of the company’s stock valued at $189,967,000 after buying an additional 108,828 shares during the period. Raymond James & Associates grew its position in J M Smucker by 3.4% during the second quarter. Raymond James & Associates now owns 162,046 shares of the company’s stock valued at $17,418,000 after buying an additional 5,289 shares during the period. Finally, Sequoia Financial Advisors LLC grew its position in J M Smucker by 41.4% during the second quarter. Sequoia Financial Advisors LLC now owns 21,900 shares of the company’s stock valued at $2,354,000 after buying an additional 6,414 shares during the period. Institutional investors own 82.61% of the company’s stock.

In other news, SVP Jeannette L. Knudsen sold 1,500 shares of the business’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $110.74, for a total value of $166,110.00. Following the transaction, the senior vice president now owns 26,224 shares of the company’s stock, valued at $2,904,045.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.92% of the stock is currently owned by insiders.

SJM opened at $107.71 on Tuesday. The company has a market capitalization of $11.98 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 1.97 and a beta of 0.53. J M Smucker Co has a 1-year low of $96.13 and a 1-year high of $133.38. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.17 and a quick ratio of 0.51.

J M Smucker (NYSE:SJM) last posted its quarterly earnings results on Tuesday, August 21st. The company reported $1.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.76 by $0.02. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.95 billion. J M Smucker had a net margin of 17.91% and a return on equity of 12.20%. The company’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 earnings per share. Equities research analysts anticipate that J M Smucker Co will post 8.4 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Friday, November 16th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.16%. J M Smucker’s payout ratio is currently 42.71%.

Several brokerages recently issued reports on SJM. ValuEngine upgraded shares of J M Smucker from a “sell” rating to a “hold” rating in a research report on Monday, October 22nd. Zacks Investment Research lowered shares of J M Smucker from a “hold” rating to a “sell” rating in a research report on Friday, August 24th. Bank of America restated a “neutral” rating and set a $106.00 target price on shares of J M Smucker in a research report on Wednesday, October 3rd. Credit Suisse Group set a $95.00 target price on shares of J M Smucker and gave the company a “sell” rating in a research report on Friday, September 21st. Finally, Wolfe Research lowered shares of J M Smucker from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, September 26th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $120.62.

J M Smucker Profile

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company primarily offers coffee, pet food and pet snacks, peanut butter, fruit spreads, shortening and oils, baking mixes and ready-to-spread frostings, frozen sandwiches, flour and baking ingredients, juices and beverages, and portion control products.

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Institutional Ownership by Quarter for J M Smucker (NYSE:SJM)

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