Smith Salley & Associates increased its stake in J.M. Smucker Co. (NYSE:SJM) by 9.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,101 shares of the company’s stock after buying an additional 176 shares during the period. Smith Salley & Associates’ holdings in J.M. Smucker were worth $320,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of J.M. Smucker by 4.4% in the first quarter. State Street Corp now owns 5,218,584 shares of the company’s stock valued at $677,598,000 after buying an additional 222,029 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of J.M. Smucker by 127.6% in the first quarter. Renaissance Technologies LLC now owns 330,303 shares of the company’s stock valued at $42,887,000 after buying an additional 185,200 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of J.M. Smucker during the second quarter valued at approximately $16,929,000. Acadian Asset Management LLC boosted its stake in shares of J.M. Smucker by 190.7% in the second quarter. Acadian Asset Management LLC now owns 165,608 shares of the company’s stock valued at $25,239,000 after buying an additional 108,640 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of J.M. Smucker by 249.4% in the first quarter. Canada Pension Plan Investment Board now owns 131,842 shares of the company’s stock valued at $17,118,000 after buying an additional 94,106 shares during the last quarter. Institutional investors and hedge funds own 75.66% of the company’s stock.
J.M. Smucker Co. (NYSE:SJM) traded up 0.01% during midday trading on Friday, reaching $133.94. 116,506 shares of the company’s stock traded hands. The firm’s 50-day moving average is $136.85 and its 200-day moving average is $139.19. The company has a market capitalization of $15.59 billion, a price-to-earnings ratio of 22.02 and a beta of 0.53. J.M. Smucker Co. has a 1-year low of $111.01 and a 1-year high of $157.31.
J.M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Tuesday, August 23rd. The company reported $1.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.12. The firm had revenue of $1.82 billion for the quarter. J.M. Smucker had a net margin of 9.41% and a return on equity of 11.76%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.32 earnings per share. Analysts forecast that J.M. Smucker Co. will post $7.68 earnings per share for the current year.
SJM has been the topic of several research analyst reports. Credit Suisse Group AG cut shares of J.M. Smucker from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $158.00 to $145.00 in a research note on Tuesday, September 27th. JPMorgan Chase & Co. restated a “focus list” rating on shares of J.M. Smucker in a report on Tuesday, October 4th. Deutsche Bank AG set a $165.00 target price on shares of J.M. Smucker and gave the stock a “buy” rating in a report on Thursday, August 18th. Goldman Sachs Group Inc. restated a “sell” rating and issued a $131.00 target price (up from $128.00) on shares of J.M. Smucker in a report on Friday, July 15th. Finally, Citigroup Inc. restated a “buy” rating on shares of J.M. Smucker in a report on Thursday, August 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target 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.