Cwm LLC grew its stake in J M Smucker Co (NYSE:SJM) by 347.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,763 shares of the company’s stock after buying an additional 1,369 shares during the period. Cwm LLC’s holdings in J M Smucker were worth $181,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. HGK Asset Management Inc. raised its holdings in shares of J M Smucker by 35.9% in the third quarter. HGK Asset Management Inc. now owns 94,576 shares of the company’s stock worth $9,704,000 after buying an additional 24,963 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of J M Smucker in the third quarter worth $729,000. Congress Asset Management Co. MA raised its holdings in shares of J M Smucker by 5.7% in the third quarter. Congress Asset Management Co. MA now owns 40,787 shares of the company’s stock worth $4,185,000 after buying an additional 2,199 shares during the last quarter. Shufro Rose & Co. LLC purchased a new position in shares of J M Smucker in the third quarter worth $1,512,000. Finally, Trust Co. of Vermont raised its holdings in shares of J M Smucker by 25.4% in the third quarter. Trust Co. of Vermont now owns 9,916 shares of the company’s stock worth $1,018,000 after buying an additional 2,008 shares during the last quarter. 82.88% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of J M Smucker from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Credit Suisse Group set a $95.00 price target on shares of J M Smucker and gave the stock a “sell” rating in a report on Friday, September 21st. Wolfe Research lowered shares of J M Smucker from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, September 26th. ValuEngine lowered shares of J M Smucker from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 23rd. Finally, Bank of America reiterated a “neutral” rating and issued a $106.00 price objective on shares of J M Smucker in a research note on Wednesday, October 3rd. 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. J M Smucker has an average rating of “Hold” and an average target price of $120.62.
J M Smucker (NYSE:SJM) last released its quarterly earnings data 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 firm had revenue of $1.91 billion for 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 business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 earnings per share. Research analysts predict that J M Smucker Co will post 8.4 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Friday, November 16th will be paid 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 3.09%. J M Smucker’s payout ratio is currently 42.71%.
In related news, SVP Jeannette L. Knudsen sold 1,500 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $110.74, for a total transaction of $166,110.00. Following the sale, the senior vice president now owns 26,224 shares in the company, valued at $2,904,045.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.92% of the stock is owned by corporate insiders.
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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