Putnam Investments LLC increased its position in shares of J M Smucker Co (NYSE:SJM) by 1.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,244,149 shares of the company’s stock after buying an additional 20,688 shares during the period. Putnam Investments LLC owned 1.07% of J M Smucker worth $159,326,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in J M Smucker by 30.1% in the third quarter. JPMorgan Chase & Co. now owns 494,719 shares of the company’s stock valued at $67,054,000 after buying an additional 114,384 shares during the period. BlackRock Japan Co. Ltd raised its stake in J M Smucker by 1.1% in the third quarter. BlackRock Japan Co. Ltd now owns 157,604 shares of the company’s stock valued at $21,362,000 after buying an additional 1,709 shares during the period. Norman Fields Gottscho Capital Management LLC raised its stake in J M Smucker by 2.4% in the third quarter. Norman Fields Gottscho Capital Management LLC now owns 48,735 shares of the company’s stock valued at $6,606,000 after buying an additional 1,165 shares during the period. Northern Trust Corp raised its stake in J M Smucker by 2.8% in the third quarter. Northern Trust Corp now owns 1,545,056 shares of the company’s stock valued at $209,417,000 after buying an additional 42,336 shares during the period. Finally, Morgan Stanley raised its stake in J M Smucker by 33.1% in the third quarter. Morgan Stanley now owns 635,034 shares of the company’s stock valued at $86,074,000 after buying an additional 157,881 shares during the period. Hedge funds and other institutional investors own 75.27% of the company’s stock.
Shares of J M Smucker Co (NYSE:SJM) traded down 0.23% on Monday, reaching $140.17. 365,036 shares of the company traded hands. J M Smucker Co has a 1-year low of $122.05 and a 1-year high of $157.31. The company has a 50-day moving average of $137.29 and a 200-day moving average of $134.14. The stock has a market capitalization of $16.32 billion, a price-to-earnings ratio of 24.40 and a beta of 0.54.
J M Smucker (NYSE:SJM) last posted its quarterly earnings data on Friday, February 17th. The company reported $2.00 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.00. J M Smucker had a net margin of 9.63% and a return on equity of 12.41%. The business earned $1.88 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. Analysts anticipate that J M Smucker Co will post $7.65 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were paid a dividend of $0.75 per share. The ex-dividend date was Wednesday, February 8th. This represents a $3.00 annualized dividend and a dividend yield of 2.14%. J M Smucker’s payout ratio is currently 48.86%.
SJM has been the subject of several analyst reports. Deutsche Bank AG restated a “buy” rating and issued a $162.00 price objective (up from $150.00) on shares of J M Smucker in a research note on Monday, November 14th. Zacks Investment Research lowered J M Smucker from a “hold” rating to a “sell” rating in a research note on Wednesday, January 18th. Bank of America Corp assumed coverage on J M Smucker in a research note on Tuesday, December 6th. They issued a “neutral” rating and a $130.00 price objective for the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $130.00 target price (up previously from $125.00) on shares of J M Smucker in a report on Thursday, February 23rd. Finally, Credit Suisse Group AG set a $134.00 target price on shares of J M Smucker and gave the stock a “hold” rating in a report on Friday, November 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $141.00.
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.