Monte Financial Group LLC Purchases 2,391 Shares of J M Smucker Co (NYSE:SJM)

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Monte Financial Group LLC grew its position in shares of J M Smucker Co (NYSE:SJM) by 8.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,523 shares of the company’s stock after purchasing an additional 2,391 shares during the period. J M Smucker comprises about 2.8% of Monte Financial Group LLC’s holdings, making the stock its 15th largest holding. Monte Financial Group LLC’s holdings in J M Smucker were worth $3,468,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Nuveen Asset Management LLC lifted its stake in shares of J M Smucker by 22,638.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 590,961 shares of the company’s stock valued at $68,073,000 after acquiring an additional 588,362 shares during the last quarter. LSV Asset Management lifted its stake in shares of J M Smucker by 10.5% in the 2nd quarter. LSV Asset Management now owns 4,223,812 shares of the company’s stock valued at $486,540,000 after acquiring an additional 400,006 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of J M Smucker by 72.1% in the 2nd quarter. Prudential Financial Inc. now owns 714,298 shares of the company’s stock valued at $82,280,000 after acquiring an additional 299,231 shares during the last quarter. BlackRock Inc. lifted its stake in shares of J M Smucker by 2.7% in the 2nd quarter. BlackRock Inc. now owns 9,934,921 shares of the company’s stock valued at $1,144,403,000 after acquiring an additional 258,305 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of J M Smucker by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,369,701 shares of the company’s stock valued at $480,754,000 after acquiring an additional 255,302 shares during the last quarter. 77.56% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Mark R. Belgya sold 750 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $113.55, for a total transaction of $85,162.50. Following the transaction, the insider now owns 54,192 shares in the company, valued at approximately $6,153,501.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kevin G. Jackson sold 487 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $108.70, for a total value of $52,936.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,987 shares of company stock worth $220,599. 3.70% of the stock is owned by company insiders.

NYSE:SJM traded up $0.70 during mid-day trading on Tuesday, reaching $105.13. 704,427 shares of the company’s stock traded hands, compared to its average volume of 913,762. J M Smucker Co has a 12-month low of $91.32 and a 12-month high of $128.43. The firm has a market capitalization of $12.12 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 3.42 and a beta of 0.41. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.70 and a quick ratio of 0.26. The company has a 50 day moving average price of $107.41 and a 200-day moving average price of $114.68.

J M Smucker (NYSE:SJM) last announced its quarterly earnings results on Tuesday, August 27th. The company reported $1.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.17). J M Smucker had a net margin of 6.95% and a return on equity of 11.49%. The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, analysts forecast that J M Smucker Co will post 8.36 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a dividend of $0.88 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.52 dividend on an annualized basis and a yield of 3.35%. J M Smucker’s dividend payout ratio is presently 42.46%.

SJM has been the subject of a number of recent research reports. Guggenheim lowered their target price on J M Smucker from $99.00 to $93.00 and set a “sell” rating for the company in a research note on Wednesday, August 28th. Stifel Nicolaus lowered their target price on J M Smucker from $120.00 to $110.00 and set a “hold” rating for the company in a research note on Wednesday, August 28th. Citigroup lowered their target price on J M Smucker from $142.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Wells Fargo & Co reissued a “market perform” rating and issued a $107.00 target price (down previously from $114.00) on shares of J M Smucker in a research note on Wednesday, August 28th. Finally, TheStreet lowered J M Smucker from a “b-” rating to a “c+” rating in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $116.70.

J M Smucker Profile

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.

Featured Story: Balance Sheet

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

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