Oppenheimer Asset Management Inc. trimmed its stake in J M Smucker Co (NYSE:SJM) by 55.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,152 shares of the company’s stock after selling 5,072 shares during the period. Oppenheimer Asset Management Inc.’s holdings in J M Smucker were worth $436,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SJM. Schroder Investment Management Group raised its position in shares of J M Smucker by 7,253.2% in the 2nd quarter. Schroder Investment Management Group now owns 1,166,740 shares of the company’s stock worth $137,699,000 after acquiring an additional 1,150,873 shares in the last quarter. BlackRock Inc. raised its position in shares of J M Smucker by 7.6% in the 2nd quarter. BlackRock Inc. now owns 8,162,040 shares of the company’s stock worth $965,814,000 after acquiring an additional 578,984 shares in the last quarter. Koch Industries Inc. purchased a new position in J M Smucker during the 2nd quarter worth $495,000. Renaissance Technologies LLC purchased a new position in J M Smucker during the 2nd quarter worth $54,456,000. Finally, Parametric Portfolio Associates LLC grew its stake in J M Smucker by 251.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 642,552 shares of the company’s stock worth $76,033,000 after buying an additional 459,528 shares during the last quarter. 75.46% of the stock is owned by hedge funds and other institutional investors.
J M Smucker Co (NYSE:SJM) traded up $0.92 during trading on Friday, reaching $119.44. The company’s stock had a trading volume of 1,299,191 shares, compared to its average volume of 973,771. The company has a current ratio of 0.96, a quick ratio of 0.42 and a debt-to-equity ratio of 0.61. The stock has a market cap of $13,568.71, a P/E ratio of 16.30, a PEG ratio of 2.21 and a beta of 0.67. J M Smucker Co has a twelve month low of $99.57 and a twelve month high of $143.68.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were paid a dividend of $0.78 per share. The ex-dividend date was Thursday, November 9th. This represents a $3.12 annualized dividend and a yield of 2.61%. J M Smucker’s payout ratio is presently 63.03%.
SJM has been the topic of several research analyst reports. Citigroup dropped their target price on J M Smucker from $155.00 to $133.00 and set a “buy” rating on the stock in a research note on Friday, August 25th. Jefferies Group set a $130.00 target price on J M Smucker and gave the stock a “buy” rating in a research note on Monday, October 30th. Susquehanna Bancshares set a $141.00 target price on J M Smucker and gave the stock a “buy” rating in a research note on Friday, December 8th. Zacks Investment Research upgraded J M Smucker from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Finally, Credit Suisse Group set a $110.00 target price on J M Smucker and gave the stock a “hold” rating in a research note on Friday, August 25th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $126.00.
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About J M Smucker
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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