Legal & General Group Plc grew its stake in shares of J M Smucker Co (NYSE:SJM) by 6.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 620,641 shares of the company’s stock after acquiring an additional 37,084 shares during the period. Legal & General Group Plc owned about 0.55% of J M Smucker worth $65,125,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of SJM. Sun Life Financial INC raised its stake in J M Smucker by 10,512.5% in the second quarter. Sun Life Financial INC now owns 849 shares of the company’s stock worth $100,000 after buying an additional 841 shares in the last quarter. Paradigm Asset Management Co. LLC raised its stake in J M Smucker by 4.5% in the second quarter. Paradigm Asset Management Co. LLC now owns 1,150 shares of the company’s stock worth $136,000 after buying an additional 50 shares in the last quarter. BT Investment Management Ltd bought a new position in J M Smucker in the second quarter worth approximately $204,000. Allegis Investment Advisors LLC bought a new position in J M Smucker in the second quarter worth approximately $205,000. Finally, First National Trust Co. bought a new position in J M Smucker in the second quarter worth approximately $215,000. 75.46% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on SJM shares. Morgan Stanley set a $106.00 price objective on shares of J M Smucker and gave the stock a “sell” rating in a research note on Friday, October 13th. Zacks Investment Research raised shares of J M Smucker from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. Credit Suisse Group set a $110.00 price objective on shares of J M Smucker and gave the stock a “hold” rating in a research note on Friday, November 17th. BidaskClub downgraded shares of J M Smucker from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Finally, Citigroup reduced their price objective on shares of J M Smucker from $155.00 to $133.00 and set a “buy” rating for the company in a research note on Friday, August 25th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $125.17.
J M Smucker (NYSE:SJM) last issued its quarterly earnings results on Thursday, November 16th. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.12. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.90 billion. J M Smucker had a return on equity of 11.98% and a net margin of 7.72%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 earnings per share. sell-side analysts forecast that J M Smucker Co will post 7.79 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, November 9th. J M Smucker’s payout ratio is presently 63.03%.
In other J M Smucker news, Director Gary A. Oatey purchased 1,000 shares of J M Smucker stock in a transaction dated Monday, September 11th. The shares were acquired at an average cost of $107.30 per share, with a total value of $107,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.50% of the company’s stock.
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J M Smucker Company Profile
The J. M. Smucker Company is a manufacturer and marketer of branded food and beverage products and pet food and pet snacks in North America. The Company’s segments include U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Foodservice. The Company’s U.S. retail market segments consist of the sale of branded food products to consumers through retail outlets in North America.
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