Janney Montgomery Scott LLC Raises Stake in J.M. Smucker Co. (SJM)
Janney Montgomery Scott LLC raised its position in J.M. Smucker Co. (NYSE:SJM) by 148.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,594 shares of the company’s stock after buying an additional 37,988 shares during the period. Janney Montgomery Scott LLC owned approximately 0.05% of J.M. Smucker worth $8,760,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in SJM. Jaffetilchin Investment Partners LLC raised its stake in J.M. Smucker by 241.5% in the second quarter. Jaffetilchin Investment Partners LLC now owns 7,875 shares of the company’s stock worth $1,200,000 after buying an additional 5,569 shares during the last quarter. Lincoln National Corp raised its stake in J.M. Smucker by 3.2% in the second quarter. Lincoln National Corp now owns 1,666 shares of the company’s stock worth $254,000 after buying an additional 51 shares during the last quarter. Neuberger Berman Group LLC raised its stake in J.M. Smucker by 6.4% in the second quarter. Neuberger Berman Group LLC now owns 16,821 shares of the company’s stock worth $2,564,000 after buying an additional 1,014 shares during the last quarter. Airain ltd acquired a new stake in J.M. Smucker during the second quarter worth about $5,317,000. Finally, Nichols Asset Management LLC acquired a new stake in J.M. Smucker during the second quarter worth about $229,000. 75.66% of the stock is owned by institutional investors and hedge funds.
Shares of J.M. Smucker Co. (NYSE:SJM) traded down 0.68% during mid-day trading on Friday, hitting $136.93. 571,817 shares of the stock traded hands. The company has a market cap of $15.94 billion, a P/E ratio of 22.51 and a beta of 0.47. J.M. Smucker Co. has a one year low of $106.87 and a one year high of $157.31. The stock has a 50 day moving average price of $144.65 and a 200-day moving average price of $138.64.
J.M. Smucker (NYSE:SJM) last released its quarterly earnings results on Tuesday, August 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.12. The business earned $1.82 billion during the quarter. J.M. Smucker had a return on equity of 11.76% and a net margin of 9.41%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period last year, the firm earned $1.32 EPS. On average, analysts forecast that J.M. Smucker Co. will post $7.69 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Wednesday, August 10th. This is an increase from J.M. Smucker’s previous quarterly dividend of $0.67. J.M. Smucker’s payout ratio is 49.26%.
A number of research firms have recently issued reports on SJM. Hilliard Lyons raised shares of J.M. Smucker from an “underperform” rating to a “neutral” rating in a report on Thursday. Susquehanna reissued a “hold” rating and issued a $139.00 price objective on shares of J.M. Smucker in a report on Tuesday, September 6th. Citigroup Inc. reissued a “buy” rating on shares of J.M. Smucker in a report on Thursday, August 25th. Credit Suisse Group AG reissued a “buy” rating and issued a $158.00 price objective on shares of J.M. Smucker in a report on Wednesday, August 24th. Finally, Morgan Stanley reissued a “hold” rating and issued a $142.00 price objective on shares of J.M. Smucker in a report on Wednesday, August 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $148.10.
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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