J.M. Smucker Co. (SJM) Stake Decreased by Swiss National Bank
Swiss National Bank decreased its position in J.M. Smucker Co. (NYSE:SJM) by 1.4% during the third quarter, Holdings Channel reports. The firm owned 539,799 shares of the company’s stock after selling 7,500 shares during the period. Swiss National Bank’s holdings in J.M. Smucker were worth $73,164,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in SJM. Vanguard Group Inc. raised its position in J.M. Smucker by 3.4% in the second quarter. Vanguard Group Inc. now owns 11,223,633 shares of the company’s stock worth $1,710,593,000 after buying an additional 366,506 shares during the period. Massachusetts Financial Services Co. MA raised its position in J.M. Smucker by 104.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,532,054 shares of the company’s stock worth $538,319,000 after buying an additional 1,806,455 shares during the period. Fundsmith LLP raised its position in J.M. Smucker by 68.3% in the second quarter. Fundsmith LLP now owns 3,450,789 shares of the company’s stock worth $525,935,000 after buying an additional 1,399,810 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in J.M. Smucker by 0.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,184,842 shares of the company’s stock worth $485,402,000 after buying an additional 29,033 shares during the period. Finally, BlackRock Fund Advisors raised its position in J.M. Smucker by 3.8% in the second quarter. BlackRock Fund Advisors now owns 2,057,024 shares of the company’s stock worth $313,511,000 after buying an additional 75,876 shares during the period. 74.90% of the stock is currently owned by institutional investors.
J.M. Smucker Co. (NYSE:SJM) opened at 127.27 on Wednesday. The firm has a market capitalization of $14.82 billion, a PE ratio of 20.75 and a beta of 0.56. The stock’s 50 day moving average price is $129.95 and its 200 day moving average price is $139.67. J.M. Smucker Co. has a 52-week low of $117.36 and a 52-week high of $157.31.
J.M. Smucker (NYSE:SJM) last issued its earnings results on Thursday, November 17th. The company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.12. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $2 billion. J.M. Smucker had a return on equity of 12.41% and a net margin of 9.63%. The business’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period last year, the company posted $1.62 EPS. Analysts expect that J.M. Smucker Co. will post $7.69 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Tuesday, November 8th. J.M. Smucker’s dividend payout ratio (DPR) is currently 48.86%.
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SJM has been the topic of a number of recent research reports. Citigroup Inc. reissued a “buy” rating on shares of J.M. Smucker in a research note on Thursday, August 25th. Jefferies Group reduced their target price on J.M. Smucker from $143.00 to $135.00 and set a “hold” rating on the stock in a research report on Wednesday, October 12th. Credit Suisse Group AG downgraded J.M. Smucker from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $158.00 to $145.00 in a research report on Tuesday, September 27th. Hilliard Lyons upgraded J.M. Smucker from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 22nd. Finally, Deutsche Bank AG restated a “buy” rating and issued a $162.00 target price (up previously from $150.00) on shares of J.M. Smucker in a research report on Monday, November 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $144.60.
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.
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