Coho Partners Ltd. cut its position in J M Smucker Co (NYSE:SJM) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,475,091 shares of the company’s stock after selling 44,001 shares during the quarter. J M Smucker comprises about 4.0% of Coho Partners Ltd.’s holdings, making the stock its 11th largest position. Coho Partners Ltd. owned about 1.29% of J M Smucker worth $169,916,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in shares of J M Smucker by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,792,424 shares of the company’s stock valued at $167,581,000 after purchasing an additional 13,573 shares during the period. Geode Capital Management LLC raised its stake in shares of J M Smucker by 12.1% during the 4th quarter. Geode Capital Management LLC now owns 1,582,207 shares of the company’s stock valued at $147,679,000 after purchasing an additional 171,185 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of J M Smucker during the 1st quarter valued at $290,000. BNP Paribas Arbitrage SA raised its stake in shares of J M Smucker by 83.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 57,782 shares of the company’s stock valued at $6,732,000 after purchasing an additional 26,351 shares during the period. Finally, Private Capital Group LLC raised its stake in shares of J M Smucker by 19.6% during the 1st quarter. Private Capital Group LLC now owns 634 shares of the company’s stock valued at $74,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 77.41% of the company’s stock.
SJM traded up $0.77 during midday trading on Friday, reaching $106.62. 2,867 shares of the company’s stock traded hands, compared to its average volume of 1,148,460. The firm has a fifty day moving average of $110.51 and a two-hundred day moving average of $115.89. The stock has a market capitalization of $12.17 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 3.42 and a beta of 0.43. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.70 and a quick ratio of 0.26. J M Smucker Co has a 52 week low of $91.32 and a 52 week high of $128.43.
J M Smucker (NYSE:SJM) last released its quarterly earnings results on Tuesday, August 27th. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.17). J M Smucker had a net margin of 6.95% and a return on equity of 11.49%. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the company earned $1.78 EPS. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. Sell-side analysts forecast that J M Smucker Co will post 8.4 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were given a $0.88 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.52 annualized dividend and a dividend yield of 3.30%. This is a positive change from J M Smucker’s previous quarterly dividend of $0.85. J M Smucker’s dividend payout ratio is currently 42.46%.
In other news, SVP Geoff E. Tanner bought 1,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was purchased at an average price of $103.42 per share, with a total value of $103,420.00. Following the transaction, the senior vice president now owns 14,063 shares of the company’s stock, valued at $1,454,395.46. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joseph Stanziano sold 319 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $119.20, for a total value of $38,024.80. Following the transaction, the insider now directly owns 14,857 shares of the company’s stock, valued at approximately $1,770,954.40. The disclosure for this sale can be found here. Insiders sold a total of 4,019 shares of company stock valued at $457,363 in the last three months. Corporate insiders own 3.70% of the company’s stock.
A number of equities analysts have weighed in on the company. Bank of America decreased their target price on J M Smucker from $128.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 28th. Guggenheim decreased their target price on J M Smucker from $99.00 to $93.00 and set a “sell” rating on the stock in a research note on Wednesday, August 28th. TheStreet lowered J M Smucker from a “b-” rating to a “c+” rating in a research note on Tuesday, August 6th. Citigroup decreased their target price on J M Smucker from $142.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Zacks Investment Research lowered J M Smucker from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. J M Smucker currently has an average rating of “Hold” and an average target price of $116.70.
J M Smucker Company Profile
The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.
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