Pinnacle Associates Ltd. Trims Stake in J M Smucker Co (SJM)
Pinnacle Associates Ltd. trimmed its position in J M Smucker Co (NYSE:SJM) by 11.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,334 shares of the company’s stock after selling 989 shares during the quarter. Pinnacle Associates Ltd.’s holdings in J M Smucker were worth $770,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in shares of J M Smucker by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,733,594 shares of the company’s stock valued at $181,908,000 after acquiring an additional 27,182 shares during the last quarter. Brown Advisory Inc. boosted its position in shares of J M Smucker by 32.6% during the 3rd quarter. Brown Advisory Inc. now owns 81,399 shares of the company’s stock valued at $8,542,000 after acquiring an additional 19,996 shares during the last quarter. BB&T Securities LLC boosted its position in shares of J M Smucker by 71.8% during the 3rd quarter. BB&T Securities LLC now owns 156,252 shares of the company’s stock valued at $16,395,000 after acquiring an additional 65,286 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of J M Smucker by 9.0% during the 3rd quarter. Captrust Financial Advisors now owns 7,165 shares of the company’s stock valued at $752,000 after acquiring an additional 593 shares during the last quarter. Finally, USS Investment Management Ltd boosted its position in shares of J M Smucker by 6.7% during the 3rd quarter. USS Investment Management Ltd now owns 217,600 shares of the company’s stock valued at $22,834,000 after acquiring an additional 13,600 shares during the last quarter. 75.46% of the stock is owned by institutional investors.
Shares of J M Smucker Co (SJM) traded up $3.78 on Tuesday, reaching $119.39. The company had a trading volume of 1,446,800 shares, compared to its average volume of 1,120,896. The company has a market capitalization of $13,560.00, a P/E ratio of 15.77, a PEG ratio of 2.14 and a beta of 0.67. J M Smucker Co has a 12 month low of $99.57 and a 12 month high of $143.68. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.42 and a current ratio of 0.96.
J M Smucker (NYSE:SJM) last issued its quarterly earnings results on Thursday, November 16th. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.12. J M Smucker had a return on equity of 11.98% and a net margin of 7.72%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period last year, the company earned $2.05 earnings per share. J M Smucker’s revenue was up .5% on a year-over-year basis. sell-side analysts anticipate that J M Smucker Co will post 7.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were paid a $0.78 dividend. The ex-dividend date was Thursday, November 9th. This represents a $3.12 dividend on an annualized basis and a yield of 2.61%. J M Smucker’s payout ratio is 63.16%.
In other J M Smucker news, Director Gary A. Oatey bought 1,000 shares of J M Smucker stock in a transaction on Monday, September 11th. The shares were acquired at an average price of $107.30 per share, for a total transaction of $107,300.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.50% of the company’s stock.
SJM has been the subject of a number of research reports. Citigroup lowered their target price on J M Smucker from $155.00 to $133.00 and set a “buy” rating for the company in a research report on Friday, August 25th. Jefferies Group set a $130.00 price target on J M Smucker and gave the stock a “buy” rating in a research report on Monday, October 30th. Zacks Investment Research upgraded J M Smucker from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Susquehanna Bancshares set a $131.00 price target on J M Smucker and gave the stock a “hold” rating in a research report on Wednesday, August 23rd. Finally, Credit Suisse Group set a $110.00 price target on J M Smucker and gave the stock a “hold” rating in a research report on Friday, August 25th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $125.17.
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J M Smucker Profile
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.
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