Griffin Asset Management Inc. purchased a new stake in shares of J.M. Smucker Company (The) (NYSE:SJM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,919 shares of the company’s stock, valued at approximately $937,000.

Other hedge funds have also recently made changes to their positions in the company. Sun Life Financial INC boosted its position in shares of J.M. Smucker Company (The) by 10,512.5% during the 2nd quarter. Sun Life Financial INC now owns 849 shares of the company’s stock valued at $100,000 after acquiring an additional 841 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of J.M. Smucker Company (The) during the 1st quarter valued at about $126,000. Independence Advisors LLC acquired a new position in shares of J.M. Smucker Company (The) during the 2nd quarter valued at about $232,000. Paradigm Asset Management Co. LLC boosted its position in shares of J.M. Smucker Company (The) by 4.5% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 1,150 shares of the company’s stock valued at $136,000 after acquiring an additional 50 shares during the last quarter. Finally, BT Investment Management Ltd acquired a new position in shares of J.M. Smucker Company (The) during the 2nd quarter valued at about $204,000. 73.25% of the stock is currently owned by hedge funds and other institutional investors.

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In related news, insider Richard K. Smucker bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average cost of $105.40 per share, for a total transaction of $1,054,000.00. Following the acquisition, the insider now owns 652,168 shares in the company, valued at approximately $68,738,507.20. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gary A. Oatey bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were bought at an average price of $107.30 per share, for a total transaction of $107,300.00. The disclosure for this purchase can be found here. Insiders own 3.50% of the company’s stock.

SJM has been the topic of several recent research reports. Stephens cut shares of J.M. Smucker Company (The) from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $165.00 to $125.00 in a research report on Wednesday, July 19th. Morgan Stanley reissued an “underweight” rating and set a $114.00 price target (down previously from $126.00) on shares of J.M. Smucker Company (The) in a research report on Tuesday, July 18th. Zacks Investment Research raised shares of J.M. Smucker Company (The) from a “sell” rating to a “hold” rating in a research report on Thursday, September 14th. Hilliard Lyons raised shares of J.M. Smucker Company (The) from a “neutral” rating to a “long-term buy” rating and set a $140.00 price target on the stock in a research report on Tuesday, July 11th. They noted that the move was a valuation call. Finally, BidaskClub raised shares of J.M. Smucker Company (The) from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $126.55.

Shares of J.M. Smucker Company (NYSE:SJM) traded down 0.47% during mid-day trading on Friday, reaching $103.51. 136,124 shares of the company traded hands. The company’s 50 day moving average is $105.90 and its 200 day moving average is $118.73. J.M. Smucker Company has a 52-week low of $102.73 and a 52-week high of $143.68. The stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of 21.74 and a beta of 0.62.

J.M. Smucker Company (The) (NYSE:SJM) last released its quarterly earnings data on Thursday, August 24th. The company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.10). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.81 billion. J.M. Smucker Company (The) had a net margin of 7.50% and a return on equity of 12.06%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.86 earnings per share. On average, equities analysts forecast that J.M. Smucker Company will post $7.70 earnings per share for the current year.

J.M. Smucker Company (The) 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.

Institutional Ownership by Quarter for J.M. Smucker Company (The) (NYSE:SJM)

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