J M Smucker Co (SJM) Chairman Acquires $2,061,800.00 in Stock

J M Smucker Co (NYSE:SJM) Chairman Richard K. Smucker bought 20,000 shares of J M Smucker stock in a transaction on Friday, November 30th. The stock was acquired at an average price of $103.09 per share, with a total value of $2,061,800.00. Following the completion of the purchase, the chairman now directly owns 681,387 shares of the company’s stock, valued at $70,244,185.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NYSE:SJM traded down $2.66 during trading on Friday, reaching $98.17. The stock had a trading volume of 1,417,797 shares, compared to its average volume of 1,479,626. J M Smucker Co has a 52 week low of $96.13 and a 52 week high of $133.38. The firm has a market cap of $11.47 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 2.12 and a beta of 0.38. The company has a quick ratio of 0.57, a current ratio of 1.25 and a debt-to-equity ratio of 0.73.

J M Smucker (NYSE:SJM) last released its quarterly earnings results on Wednesday, November 28th. The company reported $2.17 EPS for the quarter, missing the Zacks’ consensus estimate of $2.29 by ($0.12). J M Smucker had a net margin of 17.59% and a return on equity of 12.03%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the business earned $2.02 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts predict that J M Smucker Co will post 7.99 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Friday, November 16th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Thursday, November 15th. J M Smucker’s dividend payout ratio is 42.71%.

Several large investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its position in shares of J M Smucker by 5.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 10,221 shares of the company’s stock valued at $1,114,000 after purchasing an additional 520 shares during the period. Commonwealth Bank of Australia raised its position in shares of J M Smucker by 3.8% in the second quarter. Commonwealth Bank of Australia now owns 14,984 shares of the company’s stock valued at $1,604,000 after purchasing an additional 542 shares during the period. WINTON GROUP Ltd raised its position in shares of J M Smucker by 25.2% in the third quarter. WINTON GROUP Ltd now owns 2,724 shares of the company’s stock valued at $280,000 after purchasing an additional 548 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in shares of J M Smucker by 34.4% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,150 shares of the company’s stock valued at $231,000 after purchasing an additional 550 shares during the period. Finally, Farmers Trust Co. raised its position in shares of J M Smucker by 1.3% in the third quarter. Farmers Trust Co. now owns 43,125 shares of the company’s stock valued at $4,425,000 after purchasing an additional 558 shares during the period. 79.44% of the stock is currently owned by institutional investors.

A number of research firms have issued reports on SJM. Zacks Investment Research cut shares of J M Smucker from a “hold” rating to a “sell” rating in a research note on Wednesday. Barclays reiterated a “hold” rating and issued a $103.00 target price on shares of J M Smucker in a research note on Sunday, December 2nd. Credit Suisse Group upgraded shares of J M Smucker to a “hold” rating and set a $94.00 target price for the company in a research note on Thursday, November 29th. Morgan Stanley reduced their target price on shares of J M Smucker from $100.00 to $98.00 and set an “underweight” rating for the company in a research note on Thursday, November 29th. Finally, Jefferies Financial Group set a $125.00 target price on shares of J M Smucker and gave the company a “buy” rating in a research note on Wednesday, November 28th. Five analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $117.33.

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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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