Quadrant Capital Group LLC reduced its stake in shares of J.M. Smucker Co. (NYSE:SJM) by 36.5% during the second quarter, Holdings Channel reports. The firm owned 1,006 shares of the company’s stock after selling 578 shares during the period. Quadrant Capital Group LLC’s holdings in J.M. Smucker were worth $147,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in SJM. Carroll Financial Associates Inc. boosted its position in J.M. Smucker by 16.3% in the second quarter. Carroll Financial Associates Inc. now owns 679 shares of the company’s stock valued at $103,000 after buying an additional 95 shares during the period. City Holding Co. acquired a new position in J.M. Smucker during the second quarter valued at about $110,000. Mitchell Sinkler & Starr PA acquired a new position in J.M. Smucker during the second quarter valued at about $210,000. Neville Rodie & Shaw Inc. acquired a new position in J.M. Smucker during the second quarter valued at about $215,000. Finally, Aviance Capital Management LLC acquired a new position in J.M. Smucker during the second quarter valued at about $218,000. 75.66% of the stock is currently owned by institutional investors and hedge funds.
Shares of J.M. Smucker Co. (NYSE:SJM) traded down 0.11% during midday trading on Friday, reaching $132.94. The company’s stock had a trading volume of 718,267 shares. The stock has a 50-day moving average of $139.28 and a 200 day moving average of $139.10. The firm has a market capitalization of $15.48 billion, a P/E ratio of 21.86 and a beta of 0.53. J.M. Smucker Co. has a 12-month low of $111.01 and a 12-month high of $157.31.
J.M. Smucker (NYSE:SJM) last released its quarterly earnings results on Tuesday, August 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.12. J.M. Smucker had a net margin of 9.41% and a return on equity of 11.76%. The business had revenue of $1.82 billion for the quarter. During the same period in the prior year, the firm posted $1.32 earnings per share. J.M. Smucker’s revenue for the quarter was down 7.0% compared to the same quarter last year. Equities research analysts predict that J.M. Smucker Co. will post $7.68 EPS for the current fiscal year.
Several equities analysts recently issued reports on the company. Credit Suisse Group AG reaffirmed a “buy” rating on shares of J.M. Smucker in a research report on Saturday, July 9th. Susquehanna reaffirmed a “hold” rating on shares of J.M. Smucker in a research report on Sunday, July 17th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of J.M. Smucker in a research report on Sunday, June 12th. Stephens reaffirmed a “buy” rating on shares of J.M. Smucker in a research report on Monday, June 13th. Finally, Jefferies Group cut J.M. Smucker from a “buy” rating to a “hold” rating and increased their price target for the company from $140.00 to $143.00 in a report on Friday, June 10th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. J.M. Smucker presently has a consensus rating of “Hold” and a consensus price target of $146.80.
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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