Lowe Brockenbrough & Co. Inc. Trims Stake in J M Smucker Co (SJM)
Lowe Brockenbrough & Co. Inc. cut its position in J M Smucker Co (NYSE:SJM) by 6.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,215 shares of the company’s stock after selling 2,105 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in J M Smucker were worth $2,895,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of SJM. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of J M Smucker by 227.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,272 shares of the company’s stock valued at $997,000 after buying an additional 6,440 shares during the period. Comerica Bank lifted its position in J M Smucker by 3.5% in the 2nd quarter. Comerica Bank now owns 35,510 shares of the company’s stock valued at $3,941,000 after acquiring an additional 1,202 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in J M Smucker in the 2nd quarter valued at about $430,000. Barings LLC lifted its position in J M Smucker by 74.5% in the 2nd quarter. Barings LLC now owns 3,349 shares of the company’s stock valued at $360,000 after acquiring an additional 1,430 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in J M Smucker in the 2nd quarter valued at about $1,278,000. Institutional investors own 79.33% of the company’s stock.
In other news, Chairman Richard K. Smucker bought 20,000 shares of the company’s stock in a transaction on Friday, November 30th. The shares were purchased at an average price of $103.09 per share, with a total value of $2,061,800.00. Following the transaction, the chairman now directly owns 681,387 shares in the company, valued at $70,244,185.83. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 3.92% of the stock is owned by company insiders.
J M Smucker (NYSE:SJM) last announced its quarterly earnings results on Wednesday, November 28th. The company reported $2.17 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the business posted $2.02 EPS. J M Smucker’s revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that J M Smucker Co will post 7.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Friday, November 16th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, November 15th. This represents a $3.40 annualized dividend and a dividend yield of 3.34%. J M Smucker’s dividend payout ratio is currently 42.71%.
Several brokerages recently weighed in on SJM. Zacks Investment Research raised shares of J M Smucker from a “sell” rating to a “hold” rating in a research report on Wednesday, November 21st. ValuEngine raised shares of J M Smucker from a “sell” rating to a “hold” rating in a research report on Thursday. Credit Suisse Group raised shares of J M Smucker to a “hold” rating and set a $94.00 price target on the stock in a research report on Thursday, November 29th. Morgan Stanley dropped their price target on shares of J M Smucker from $100.00 to $98.00 and set an “underweight” rating on the stock in a research report on Thursday, November 29th. Finally, Jefferies Financial Group set a $125.00 price target on shares of J M Smucker and gave the company a “buy” rating in a research report on Wednesday, November 28th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. J M Smucker has a consensus rating of “Hold” and an average price target of $117.33.
J M Smucker Company Profile
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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