Victory Capital Management Inc. lifted its position in J M Smucker Co (NYSE:SJM) by 10.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 88,910 shares of the company’s stock after purchasing an additional 8,567 shares during the period. Victory Capital Management Inc.’s holdings in J M Smucker were worth $11,046,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Sit Investment Associates Inc. lifted its stake in shares of J M Smucker by 234.0% in the fourth quarter. Sit Investment Associates Inc. now owns 885 shares of the company’s stock worth $110,000 after buying an additional 620 shares during the last quarter. IFG Advisory LLC acquired a new stake in shares of J M Smucker in the fourth quarter worth $373,000. Ramsay Stattman Vela & Price Inc. acquired a new stake in shares of J M Smucker in the fourth quarter worth $200,000. Moller Financial Services acquired a new stake in shares of J M Smucker in the fourth quarter worth $221,000. Finally, Capital Management Corp VA acquired a new stake in shares of J M Smucker in the fourth quarter worth $224,000. Institutional investors and hedge funds own 76.10% of the company’s stock.
A number of analysts have recently weighed in on the stock. Credit Suisse Group set a $120.00 price objective on shares of J M Smucker and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Susquehanna Bancshares set a $141.00 price objective on shares of J M Smucker and gave the stock a “buy” rating in a research note on Friday, December 8th. Stifel Nicolaus boosted their price objective on shares of J M Smucker from $109.00 to $113.00 and gave the stock a “hold” rating in a research note on Friday, November 17th. Jefferies Group set a $130.00 price objective on shares of J M Smucker and gave the stock a “buy” rating in a research note on Monday, October 30th. Finally, Morgan Stanley set a $112.00 target price on shares of J M Smucker and gave the stock a “sell” rating in a research report on Friday, November 17th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $127.58.
J M Smucker (NYSE:SJM) last announced its earnings results on Thursday, November 16th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.12. J M Smucker had a net margin of 7.72% and a return on equity of 11.98%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the previous year, the firm posted $2.05 earnings per share. J M Smucker’s revenue was up .5% compared to the same quarter last year. analysts expect that J M Smucker Co will post 7.83 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 9th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, February 8th. J M Smucker’s dividend payout ratio (DPR) is presently 63.16%.
In other J M Smucker news, SVP Jeannette L. Knudsen sold 1,600 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $124.36, for a total value of $198,976.00. Following the sale, the senior vice president now owns 23,452 shares of the company’s stock, valued at approximately $2,916,490.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David J. Lemmon sold 1,205 shares of the business’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $124.54, for a total transaction of $150,070.70. The disclosure for this sale can be found here. Insiders sold a total of 5,610 shares of company stock worth $698,093 in the last three months. Insiders own 3.50% of the company’s stock.
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J M Smucker Company 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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