Olstein Capital Management L.P. lowered its stake in shares of J M Smucker Co (NYSE:SJM) by 50.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 22,000 shares of the company’s stock after selling 22,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in J M Smucker were worth $2,563,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc raised its holdings in J M Smucker by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 13,334,759 shares of the company’s stock valued at $1,368,280,000 after acquiring an additional 293,331 shares during the period. BlackRock Inc. raised its position in J M Smucker by 7.4% in the fourth quarter. BlackRock Inc. now owns 10,239,722 shares of the company’s stock worth $957,309,000 after acquiring an additional 708,976 shares during the period. Oregon Public Employees Retirement Fund raised its position in J M Smucker by 12,668.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,351,461 shares of the company’s stock worth $57,000 after acquiring an additional 5,309,548 shares during the period. Bank of America Corp DE raised its position in J M Smucker by 312.2% in the fourth quarter. Bank of America Corp DE now owns 4,351,714 shares of the company’s stock worth $406,843,000 after acquiring an additional 3,295,923 shares during the period. Finally, LSV Asset Management raised its position in J M Smucker by 51.7% in the first quarter. LSV Asset Management now owns 3,823,806 shares of the company’s stock worth $445,473,000 after acquiring an additional 1,303,090 shares during the period. 79.50% of the stock is currently owned by institutional investors and hedge funds.

J M Smucker stock opened at $127.02 on Tuesday. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 2.93 and a beta of 0.58. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.95 and a quick ratio of 0.44. J M Smucker Co has a 1 year low of $91.32 and a 1 year high of $128.43.

J M Smucker (NYSE:SJM) last posted its quarterly earnings results on Tuesday, February 26th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.03 by $0.23. J M Smucker had a net margin of 8.15% and a return on equity of 11.61%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the previous year, the business posted $2.50 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, research analysts expect that J M Smucker Co will post 8.15 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $3.40 annualized dividend and a dividend yield of 2.68%. J M Smucker’s dividend payout ratio (DPR) is presently 42.71%.

A number of equities analysts recently commented on the stock. Zacks Investment Research cut shares of J M Smucker from a “hold” rating to a “sell” rating in a research note on Monday, January 21st. Guggenheim assumed coverage on shares of J M Smucker in a research note on Tuesday, January 22nd. They set a “sell” rating and a $85.00 price target for the company. Wells Fargo & Co lifted their price target on shares of J M Smucker from $100.00 to $105.00 and gave the stock a “market perform” rating in a research note on Monday, February 25th. Jefferies Financial Group set a $125.00 price target on shares of J M Smucker and gave the stock a “buy” rating in a research note on Tuesday, February 26th. Finally, Citigroup lifted their price target on shares of J M Smucker from $122.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $117.18.

In related news, SVP Jeannette L. Knudsen sold 1,932 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $102.86, for a total transaction of $198,725.52. Following the completion of the transaction, the senior vice president now owns 24,292 shares in the company, valued at approximately $2,498,675.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.92% of the company’s stock.

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About J M Smucker

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

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