Bank of New York Mellon Corp reduced its position in shares of J.M. Smucker Company (The) (NYSE:SJM) by 21.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,002,570 shares of the company’s stock after selling 281,076 shares during the period. Bank of New York Mellon Corp owned approximately 0.86% of J.M. Smucker Company (The) worth $131,417,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Advantage Investment Management LLC bought a new position in J.M. Smucker Company (The) during the fourth quarter worth $127,000. Sowell Financial Services LLC bought a new position in J.M. Smucker Company (The) during the fourth quarter worth $147,000. Fenimore Asset Management Inc. bought a new position in J.M. Smucker Company (The) during the first quarter worth $200,000. Advisory Services Network LLC acquired a new stake in shares of J.M. Smucker Company (The) during the first quarter valued at approximately $221,000. Finally, HPM Partners LLC acquired a new stake in shares of J.M. Smucker Company (The) during the first quarter valued at approximately $229,000. 73.76% of the stock is currently owned by institutional investors.
Shares of J.M. Smucker Company (SJM) traded down 1.91% on Friday, reaching $124.72. 1,415,958 shares of the company were exchanged. The stock has a market capitalization of $14.25 billion, a PE ratio of 24.45 and a beta of 0.58. The firm has a 50 day moving average price of $127.03 and a 200-day moving average price of $131.37. J.M. Smucker Company has a 12-month low of $122.05 and a 12-month high of $157.31.
J.M. Smucker Company (The) (NYSE:SJM) last posted its quarterly earnings results on Thursday, June 8th. The company reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.08. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.77 billion. J.M. Smucker Company (The) had a net margin of 8.01% and a return on equity of 12.63%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share. On average, analysts predict that J.M. Smucker Company will post $7.93 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 12th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Wednesday, May 10th. J.M. Smucker Company (The)’s dividend payout ratio (DPR) is presently 58.82%.
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Several brokerages recently commented on SJM. Zacks Investment Research raised J.M. Smucker Company (The) from a “sell” rating to a “hold” rating in a research note on Monday, February 27th. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $128.00 target price (down previously from $132.00) on shares of J.M. Smucker Company (The) in a report on Wednesday, May 31st. Jefferies Group LLC reiterated a “hold” rating and set a $130.00 target price on shares of J.M. Smucker Company (The) in a report on Wednesday, April 26th. Sanford C. Bernstein cut J.M. Smucker Company (The) from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $147.00 to $130.00 in a report on Tuesday, March 21st. Finally, Credit Suisse Group restated a “hold” rating and issued a $126.00 price objective on shares of J.M. Smucker Company (The) in a report on Thursday, June 1st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $134.20.
About J.M. Smucker Company (The)
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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