Shell Asset Management Co. raised its stake in J.M. Smucker Co. (NYSE:SJM) by 16.9% during the second quarter, Holdings Channel reports. The firm owned 22,850 shares of the company’s stock after buying an additional 3,307 shares during the period. Shell Asset Management Co.’s holdings in J.M. Smucker were worth $3,483,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of J.M. Smucker during the fourth quarter valued at approximately $108,629,000. State Street Corp boosted its stake in J.M. Smucker by 4.4% in the first quarter. State Street Corp now owns 5,218,584 shares of the company’s stock worth $677,598,000 after buying an additional 222,029 shares during the last quarter. Renaissance Technologies LLC boosted its stake in J.M. Smucker by 127.6% in the first quarter. Renaissance Technologies LLC now owns 330,303 shares of the company’s stock worth $42,887,000 after buying an additional 185,200 shares during the last quarter. Virginia Retirement System purchased a new stake in J.M. Smucker during the first quarter worth about $22,787,000. Finally, BlackRock Group LTD boosted its stake in J.M. Smucker by 15.4% in the first quarter. BlackRock Group LTD now owns 1,132,793 shares of the company’s stock worth $147,083,000 after buying an additional 151,279 shares during the last quarter. 75.66% of the stock is owned by institutional investors and hedge funds.
J.M. Smucker Co. (NYSE:SJM) traded down 0.50% during trading on Friday, hitting $137.18. The stock had a trading volume of 1,024,449 shares. The company has a market capitalization of $15.97 billion, a price-to-earnings ratio of 22.56 and a beta of 0.47. J.M. Smucker Co. has a 12-month low of $106.87 and a 12-month high of $157.31. The stock has a 50 day moving average price of $144.11 and a 200 day moving average price of $138.71.
J.M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Tuesday, August 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.12. The company had revenue of $1.82 billion for the quarter. J.M. Smucker had a net margin of 9.41% and a return on equity of 11.76%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.32 EPS. Equities research analysts forecast that J.M. Smucker Co. will post $7.69 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were issued a $0.75 dividend. This is an increase from J.M. Smucker’s previous quarterly dividend of $0.67. The ex-dividend date was Wednesday, August 10th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.19%. J.M. Smucker’s dividend payout ratio (DPR) is presently 49.26%.
A number of analysts recently issued reports on the company. JPMorgan Chase & Co. reissued a “buy” rating on shares of J.M. Smucker in a research report on Sunday, June 12th. Morgan Stanley reissued a “hold” rating on shares of J.M. Smucker in a research report on Saturday, June 4th. Credit Suisse Group AG reissued a “buy” rating on shares of J.M. Smucker in a research report on Saturday, July 9th. Susquehanna reissued a “hold” rating on shares of J.M. Smucker in a research report on Sunday, July 17th. Finally, Hilliard Lyons cut J.M. Smucker from a “neutral” rating to an “underperform” rating in a research report on Thursday, June 23rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $148.10.
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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