Oppenheimer & Co. Inc. Lowers Position in J M Smucker Co (NYSE:SJM)

Oppenheimer & Co. Inc. decreased its stake in shares of J M Smucker Co (NYSE:SJM) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,267 shares of the company’s stock after selling 101 shares during the period. Oppenheimer & Co. Inc.’s holdings in J M Smucker were worth $492,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Resources Investment Advisors Inc. increased its holdings in shares of J M Smucker by 10,650.0% during the 1st quarter. Resources Investment Advisors Inc. now owns 215 shares of the company’s stock worth $25,000 after buying an additional 213 shares during the last quarter. Guinness Asset Management Ltd raised its holdings in shares of J M Smucker by 52.7% in the 2nd quarter. Guinness Asset Management Ltd now owns 258 shares of the company’s stock worth $30,000 after purchasing an additional 89 shares during the period. Zions Bancorporation N.A. purchased a new position in shares of J M Smucker in the 1st quarter worth about $31,000. Whitener Capital Management Inc. lifted its stake in shares of J M Smucker by 52.4% in the 2nd quarter. Whitener Capital Management Inc. now owns 291 shares of the company’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Finally, Alera Investment Advisors LLC acquired a new position in shares of J M Smucker in the 1st quarter valued at about $35,000. 77.41% of the stock is owned by hedge funds and other institutional investors.

Shares of SJM stock traded up $0.20 during trading hours on Wednesday, reaching $106.89. The company had a trading volume of 23,108 shares, compared to its average volume of 1,130,747. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.26 and a current ratio of 0.70. J M Smucker Co has a twelve month low of $91.32 and a twelve month high of $128.43. The company has a market capitalization of $12.17 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 3.37 and a beta of 0.43. The stock’s fifty day simple moving average is $110.60 and its 200 day simple moving average is $115.85.

J M Smucker (NYSE:SJM) last released its quarterly earnings results on Tuesday, August 27th. The company reported $1.58 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.17). The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.88 billion. J M Smucker had a return on equity of 11.49% and a net margin of 6.95%. The business’s revenue was down 6.5% on a year-over-year basis. During the same period last year, the firm posted $1.78 earnings per share. As a group, equities analysts expect that J M Smucker Co will post 8.4 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were given a dividend of $0.88 per share. This is a boost from J M Smucker’s previous quarterly dividend of $0.85. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Thursday, August 15th. J M Smucker’s payout ratio is presently 42.46%.

SJM has been the subject of a number of research reports. Bank of America decreased their target price on J M Smucker from $128.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, August 28th. Zacks Investment Research cut shares of J M Smucker from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Stifel Nicolaus reduced their price target on shares of J M Smucker from $120.00 to $110.00 and set a “hold” rating on the stock in a research report on Wednesday, August 28th. Citigroup dropped their price objective on shares of J M Smucker from $142.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, Morgan Stanley raised their target price on shares of J M Smucker from $117.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, June 7th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $116.70.

In other news, SVP Geoff E. Tanner purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were purchased at an average price of $103.42 per share, with a total value of $103,420.00. Following the purchase, the senior vice president now directly owns 14,063 shares of the company’s stock, valued at approximately $1,454,395.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Stanziano sold 319 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $119.20, for a total transaction of $38,024.80. Following the completion of the transaction, the insider now owns 14,857 shares in the company, valued at approximately $1,770,954.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,019 shares of company stock worth $457,363. Corporate insiders own 3.70% of the company’s stock.

About J M Smucker

The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.

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

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