J M Smucker Co (SJM) Stake Lowered by Robeco Institutional Asset Management B.V.
Robeco Institutional Asset Management B.V. reduced its holdings in J M Smucker Co (NYSE:SJM) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,724 shares of the company’s stock after selling 2,708 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.09% of J M Smucker worth $10,395,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of SJM. Alpha Windward LLC acquired a new position in J M Smucker during the second quarter worth $551,000. Sei Investments Co. raised its holdings in J M Smucker by 13.6% during the first quarter. Sei Investments Co. now owns 115,503 shares of the company’s stock worth $14,323,000 after purchasing an additional 13,802 shares during the last quarter. Curbstone Financial Management Corp acquired a new position in J M Smucker during the second quarter worth $1,507,000. Assenagon Asset Management S.A. raised its holdings in J M Smucker by 116.3% during the second quarter. Assenagon Asset Management S.A. now owns 26,646 shares of the company’s stock worth $2,864,000 after purchasing an additional 14,328 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in J M Smucker during the second quarter worth $430,000. 79.89% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on SJM. Zacks Investment Research raised J M Smucker from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. ValuEngine cut J M Smucker from a “hold” rating to a “sell” rating in a report on Thursday, May 3rd. Credit Suisse Group lifted their price objective on J M Smucker from $90.00 to $95.00 and gave the stock an “underperform” rating in a report on Wednesday, June 27th. Susquehanna Bancshares set a $159.00 price objective on J M Smucker and gave the stock a “buy” rating in a report on Monday, May 21st. Finally, Wells Fargo & Co set a $100.00 price objective on J M Smucker and gave the stock a “hold” rating in a report on Tuesday, June 5th. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $121.83.
J M Smucker (NYSE:SJM) last released its quarterly earnings results on Thursday, June 7th. The company reported $1.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.18 by ($0.25). J M Smucker had a return on equity of 12.20% and a net margin of 18.19%. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the firm earned $1.80 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. research analysts predict that J M Smucker Co will post 8.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Friday, August 17th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.03%. This is a boost from J M Smucker’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Thursday, August 16th. J M Smucker’s payout ratio is 39.20%.
In other news, insider Mark T. Smucker sold 2,500 shares of J M Smucker stock in a transaction on Monday, July 16th. The stock was sold at an average price of $111.02, for a total value of $277,550.00. Following the completion of the sale, the insider now owns 121,179 shares of the company’s stock, valued at $13,453,292.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Barry C. Dunaway sold 10,354 shares of J M Smucker stock in a transaction on Monday, June 11th. The shares were sold at an average price of $106.14, for a total value of $1,098,973.56. Following the completion of the sale, the insider now directly owns 22,851 shares of the company’s stock, valued at approximately $2,425,405.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,342 shares of company stock valued at $2,187,461. Insiders own 3.92% of the company’s stock.
J M Smucker Company Profile
The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company primarily offers coffee, pet food and pet snacks, peanut butter, fruit spreads, shortening and oils, baking mixes and ready-to-spread frostings, frozen sandwiches, flour and baking ingredients, juices and beverages, and portion control products.
Featured Article: What is the Book Value of a Share?
Receive News & Ratings for J M Smucker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J M Smucker and related companies with MarketBeat.com's FREE daily email newsletter.