Investors Buy Shares of J.M. Smucker Co. (SJM) on Weakness
Traders bought shares of J.M. Smucker Co. (NYSE:SJM) on weakness during trading hours on Friday. $39.05 million flowed into the stock on the tick-up and $26.60 million flowed out of the stock on the tick-down, for a money net flow of $12.45 million into the stock. Of all stocks tracked, J.M. Smucker had the 27th highest net in-flow for the day. J.M. Smucker traded down ($0.97) for the day and closed at $155.23
A number of brokerages recently issued reports on SJM. Susquehanna restated a “hold” rating on shares of J.M. Smucker in a report on Sunday, July 17th. Goldman Sachs Group Inc. reaffirmed a “sell” rating and set a $131.00 price objective (up from $128.00) on shares of J.M. Smucker in a research report on Friday, July 15th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of J.M. Smucker in a research report on Saturday, July 9th. Hilliard Lyons cut J.M. Smucker from a “neutral” rating to an “underperform” rating in a research report on Thursday, June 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on J.M. Smucker from $122.00 to $128.00 and gave the company a “sell” rating in a research report on Monday, June 20th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. J.M. Smucker presently has an average rating of “Hold” and a consensus target price of $146.80.
The firm has a market cap of $18.07 billion and a price-to-earnings ratio of 26.95. The stock’s 50-day moving average is $151.39 and its 200-day moving average is $134.43.
J.M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Thursday, June 9th. The company reported $1.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.67. During the same period last year, the company earned $0.98 earnings per share. The firm earned $1.81 billion during the quarter, compared to analysts’ expectations of $1.75 billion. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. Equities analysts anticipate that J.M. Smucker Co. will post $7.70 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 12th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.93%. This is an increase from J.M. Smucker’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Wednesday, August 10th.
In related news, Director Vincent C. Byrd sold 14,512 shares of the stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $144.55, for a total value of $2,097,709.60. Following the sale, the director now directly owns 69,670 shares of the company’s stock, valued at approximately $10,070,798.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeannette L. Knudsen sold 1,600 shares of the stock in a transaction dated Monday, June 20th. The stock was sold at an average price of $145.51, for a total transaction of $232,816.00. Following the completion of the sale, the senior vice president now directly owns 18,702 shares in the company, valued at $2,721,328.02. The disclosure for this sale can be found here.
Several institutional investors recently modified their holdings of SJM. Mutual of America Capital Management LLC raised its position in shares of J.M. Smucker by 17.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 13,977 shares of the company’s stock worth $1,724,000 after buying an additional 2,065 shares during the period. Cornerstone Capital Management Holdings LLC. raised its position in shares of J.M. Smucker by 78.9% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 41,131 shares of the company’s stock worth $5,073,000 after buying an additional 18,135 shares during the period. Bank of Montreal Can raised its position in shares of J.M. Smucker by 76.3% in the fourth quarter. Bank of Montreal Can now owns 84,878 shares of the company’s stock worth $10,470,000 after buying an additional 36,746 shares during the period. Principal Financial Group Inc. raised its position in shares of J.M. Smucker by 19.7% in the fourth quarter. Principal Financial Group Inc. now owns 180,219 shares of the company’s stock worth $22,229,000 after buying an additional 29,605 shares during the period. Finally, Aberdeen Asset Management PLC UK raised its position in shares of J.M. Smucker by 41.3% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 30,595 shares of the company’s stock worth $3,619,000 after buying an additional 8,940 shares during the period.
The J. M. Smucker Company is a manufacturer and marketer of consumer food and beverage products and pet food and pet snacks in North America. The Company has four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International, Foodservice and Natural Foods. The Company’s U.S.
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