Zurich Insurance Group Ltd FI boosted its stake in J M Smucker Co (NYSE:SJM) by 98.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,434 shares of the company’s stock after buying an additional 22,591 shares during the period. Zurich Insurance Group Ltd FI’s holdings in J M Smucker were worth $4,883,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hall Laurie J Trustee boosted its position in shares of J M Smucker by 153.1% during the 1st quarter. Hall Laurie J Trustee now owns 810 shares of the company’s stock valued at $101,000 after purchasing an additional 490 shares in the last quarter. Signaturefd LLC bought a new position in shares of J M Smucker during the 1st quarter valued at about $106,000. Clarus Wealth Advisors bought a new position in shares of J M Smucker during the 2nd quarter valued at about $109,000. CSat Investment Advisory L.P. bought a new position in shares of J M Smucker during the 2nd quarter valued at about $122,000. Finally, WealthTrust Fairport LLC bought a new position in shares of J M Smucker during the 1st quarter valued at about $143,000. Hedge funds and other institutional investors own 82.73% of the company’s stock.

SJM stock opened at $111.65 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 1.17 and a debt-to-equity ratio of 0.78. J M Smucker Co has a one year low of $96.13 and a one year high of $133.38. The stock has a market cap of $12.63 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 2.03 and a beta of 0.52.

J M Smucker (NYSE:SJM) last posted its quarterly earnings data on Tuesday, August 21st. The company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.02. J M Smucker had a net margin of 17.91% and a return on equity of 12.20%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the firm earned $0.96 earnings per share. The business’s quarterly revenue was up 9.0% on a year-over-year basis. sell-side analysts predict that J M Smucker Co will post 8.43 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Friday, August 17th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.05%. This is a positive change from J M Smucker’s previous quarterly dividend of $0.78. The ex-dividend date was Thursday, August 16th. J M Smucker’s dividend payout ratio is 42.71%.

Several research firms have recently weighed in on SJM. Zacks Investment Research upgraded shares of J M Smucker from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Susquehanna Bancshares set a $159.00 price objective on shares of J M Smucker and gave the company a “buy” rating in a research note on Monday, May 21st. Wells Fargo & Co set a $100.00 price objective on shares of J M Smucker and gave the company a “hold” rating in a research note on Tuesday, June 5th. Barclays reaffirmed a “hold” rating on shares of J M Smucker in a research note on Monday, June 11th. Finally, Deutsche Bank set a $97.00 price objective on shares of J M Smucker and gave the company a “hold” rating in a research note on Friday, June 8th. Five analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $121.83.

In other news, insider Mark T. Smucker sold 2,500 shares of the stock in a transaction that occurred on Monday, July 16th. The shares were 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 directly owns 121,179 shares of the company’s stock, valued at $13,453,292.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark R. Belgya sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 26th. The stock was sold at an average price of $109.15, for a total transaction of $545,750.00. Following the completion of the sale, the insider now directly owns 50,810 shares of the company’s stock, valued at $5,545,911.50. The disclosure for this sale can be found here. Insiders sold 10,518 shares of company stock valued at $1,152,748 over the last three months. 3.92% of the stock is owned by insiders.

About J M Smucker

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.

Further Reading: Risk Tolerance

Institutional Ownership by Quarter for J M Smucker (NYSE:SJM)

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