Global Retirement Partners LLC Grows Position in J M Smucker Co (NYSE:SJM)

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Global Retirement Partners LLC raised its holdings in J M Smucker Co (NYSE:SJM) by 87.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 255 shares of the company’s stock after acquiring an additional 119 shares during the quarter. Global Retirement Partners LLC’s holdings in J M Smucker were worth $28,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of J M Smucker by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 12,464,058 shares of the company’s stock valued at $1,435,735,000 after buying an additional 179,471 shares in the last quarter. BlackRock Inc. grew its position in J M Smucker by 2.7% during the 2nd quarter. BlackRock Inc. now owns 9,934,921 shares of the company’s stock worth $1,144,403,000 after acquiring an additional 258,305 shares during the last quarter. State Street Corp grew its position in J M Smucker by 2.7% during the 3rd quarter. State Street Corp now owns 7,870,250 shares of the company’s stock worth $865,885,000 after acquiring an additional 203,675 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in J M Smucker by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,369,701 shares of the company’s stock worth $480,754,000 after acquiring an additional 255,302 shares during the last quarter. Finally, LSV Asset Management grew its position in J M Smucker by 10.5% during the 2nd quarter. LSV Asset Management now owns 4,223,812 shares of the company’s stock worth $486,540,000 after acquiring an additional 400,006 shares during the last quarter. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SJM stock opened at $105.09 on Monday. The firm has a market cap of $12.10 billion, a P/E ratio of 12.68, a P/E/G ratio of 4.03 and a beta of 0.41. J M Smucker Co has a fifty-two week low of $91.32 and a fifty-two week high of $128.43. The business’s 50 day moving average price is $106.71 and its 200-day moving average price is $113.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.28 and a current ratio of 0.72.

J M Smucker (NYSE:SJM) last released its quarterly earnings results on Friday, November 22nd. The company reported $2.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.13. J M Smucker had a return on equity of 11.60% and a net margin of 7.30%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the company posted $2.17 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. As a group, equities analysts predict that J M Smucker Co will post 8.15 EPS for the current year.

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

In related news, CFO Mark R. Belgya sold 750 shares of J M Smucker stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $110.00, for a total transaction of $82,500.00. Following the sale, the chief financial officer now directly owns 53,442 shares in the company, valued at $5,878,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin G. Jackson sold 487 shares of J M Smucker stock in a transaction that occurred on 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. Insiders have sold 1,987 shares of company stock worth $217,937 over the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Several equities analysts recently issued reports on SJM shares. Guggenheim reduced their price target on J M Smucker from $99.00 to $93.00 and set a “sell” rating on the stock in a research report on Wednesday, August 28th. Citigroup reduced their price target on J M Smucker from $142.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Stifel Nicolaus reduced their price target on J M Smucker from $120.00 to $110.00 and set a “hold” rating on the stock in a research report on Wednesday, August 28th. Bank of America reduced their price target on J M Smucker from $128.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 28th. Finally, Wells Fargo & Co restated a “hold” rating on shares of J M Smucker in a research report on Monday, November 25th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. J M Smucker currently has a consensus rating of “Hold” and an average price target of $111.70.

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.

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

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