Spectrum Management Group Inc. increased its position in shares of J.M. Smucker Co. (NYSE:SJM) by 6,253.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,530 shares of the company’s stock after buying an additional 9,380 shares during the period. J.M. Smucker comprises approximately 0.6% of Spectrum Management Group Inc.’s investment portfolio, making the stock its 16th largest position. Spectrum Management Group Inc.’s holdings in J.M. Smucker were worth $1,452,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in SJM. State Street Corp increased its stake in J.M. Smucker by 4.4% in the first quarter. State Street Corp now owns 5,218,584 shares of the company’s stock worth $677,598,000 after buying an additional 222,029 shares in the last quarter. Geode Capital Management LLC increased its stake in J.M. Smucker by 2.3% in the first quarter. Geode Capital Management LLC now owns 982,229 shares of the company’s stock worth $127,279,000 after buying an additional 21,787 shares in the last quarter. Legal & General Group Plc increased its stake in J.M. Smucker by 3.5% in the first quarter. Legal & General Group Plc now owns 481,815 shares of the company’s stock worth $62,559,000 after buying an additional 16,215 shares in the last quarter. Ownership Capital B.V. increased its stake in J.M. Smucker by 15.0% in the second quarter. Ownership Capital B.V. now owns 364,387 shares of the company’s stock worth $55,536,000 after buying an additional 47,638 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in J.M. Smucker by 127.6% in the first quarter. Renaissance Technologies LLC now owns 330,303 shares of the company’s stock worth $42,887,000 after buying an additional 185,200 shares in the last quarter. 75.66% of the stock is currently owned by institutional investors and hedge funds.
Shares of J.M. Smucker Co. (NYSE:SJM) traded down 0.30% during midday trading on Friday, hitting $133.52. The company had a trading volume of 432,038 shares. The company has a market capitalization of $15.54 billion, a price-to-earnings ratio of 21.95 and a beta of 0.53. J.M. Smucker Co. has a 12-month low of $111.01 and a 12-month high of $157.31. The company’s 50-day moving average price is $136.85 and its 200 day moving average price is $139.19.
J.M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Tuesday, August 23rd. The company reported $1.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.12. J.M. Smucker had a net margin of 9.41% and a return on equity of 11.76%. The business had revenue of $1.82 billion for the quarter. During the same period in the previous year, the business posted $1.32 EPS. J.M. Smucker’s revenue was down 7.0% compared to the same quarter last year. Equities research analysts predict that J.M. Smucker Co. will post $7.68 earnings per share for the current fiscal year.
A number of analysts recently issued reports on SJM shares. Citigroup Inc. reaffirmed a “buy” rating on shares of J.M. Smucker in a research report on Thursday, August 25th. Jefferies Group lowered their price target on J.M. Smucker from $143.00 to $135.00 and set a “hold” rating on the stock in a research report on Wednesday. Credit Suisse Group AG downgraded J.M. Smucker from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $158.00 to $145.00 in a research report on Tuesday, September 27th. Hilliard Lyons raised J.M. Smucker from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 22nd. Finally, JPMorgan Chase & Co. boosted their price target on J.M. Smucker from $122.00 to $128.00 and gave the stock a “sell” rating in a research report on Monday, June 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. J.M. Smucker has an average rating of “Hold” and a consensus target price of $146.00.
About J.M. Smucker
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.