Ironsides Asset Advisors LLC bought a new position in J M Smucker Co (NYSE:SJM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,051 shares of the company’s stock, valued at approximately $210,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of J M Smucker during the third quarter worth approximately $103,000. Bridgewater Associates LP acquired a new stake in shares of J M Smucker during the third quarter worth approximately $230,000. Allianz Asset Management GmbH boosted its holdings in shares of J M Smucker by 53.0% during the third quarter. Allianz Asset Management GmbH now owns 264,198 shares of the company’s stock worth $27,109,000 after purchasing an additional 91,520 shares during the period. Ancora Advisors LLC boosted its holdings in shares of J M Smucker by 4.3% during the third quarter. Ancora Advisors LLC now owns 37,647 shares of the company’s stock worth $3,863,000 after purchasing an additional 1,569 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of J M Smucker during the third quarter worth approximately $864,000. 79.44% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on the stock. ValuEngine upgraded shares of J M Smucker from a “sell” rating to a “hold” rating in a report on Monday, October 22nd. 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. Zacks Investment Research cut shares of J M Smucker from a “hold” rating to a “sell” rating in a report on Friday, August 24th. Bank of America restated a “neutral” rating and set a $106.00 price target on shares of J M Smucker in a report on Wednesday, October 3rd. Finally, Morgan Stanley decreased their price target on shares of J M Smucker from $100.00 to $98.00 and set an “underweight” rating for the company in a report on Thursday. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $117.33.
J M Smucker (NYSE:SJM) last announced its quarterly earnings results on Wednesday, November 28th. The company reported $2.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.29 by ($0.12). The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.05 billion. J M Smucker had a return on equity of 12.03% and a net margin of 17.59%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.02 EPS. On average, sell-side analysts expect that J M Smucker Co will post 7.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Friday, November 16th will be issued a dividend of $0.85 per share. 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 3.25%. J M Smucker’s dividend payout ratio is currently 42.71%.
In related news, SVP Jeannette L. Knudsen sold 1,500 shares of J M Smucker stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 26,224 shares in the company, valued at approximately $2,904,045.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.92% of the stock is currently owned by company insiders.
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About J M Smucker
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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