Somerset Trust Co Increases Stake in J M Smucker Co (SJM)
Somerset Trust Co raised its stake in J M Smucker Co (NYSE:SJM) by 1.9% during the first quarter, Holdings Channel reports. The firm owned 10,824 shares of the company’s stock after buying an additional 207 shares during the period. Somerset Trust Co’s holdings in J M Smucker were worth $1,418,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Advantage Investment Management LLC purchased a new position in shares of J M Smucker during the fourth quarter valued at about $127,000. Financial Architects Inc purchased a new position in shares of J M Smucker during the third quarter valued at about $139,000. Sowell Financial Services LLC purchased a new position in shares of J M Smucker during the fourth quarter valued at about $147,000. Fenimore Asset Management Inc. purchased a new position in shares of J M Smucker during the first quarter valued at about $200,000. Finally, Murphy Capital Management Inc. purchased a new position in shares of J M Smucker during the third quarter valued at about $210,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.
Shares of J M Smucker Co (NYSE:SJM) traded up 0.08% during trading on Tuesday, reaching $128.11. The company’s stock had a trading volume of 1,010,155 shares. The company has a 50-day moving average price of $134.85 and a 200-day moving average price of $132.48. The stock has a market cap of $14.92 billion, a price-to-earnings ratio of 22.30 and a beta of 0.54. J M Smucker Co has a one year low of $122.05 and a one year high of $157.31.
J M Smucker (NYSE:SJM) last issued its quarterly earnings data on Friday, February 17th. The company reported $2.00 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.00. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.92 billion. J M Smucker had a return on equity of 12.41% and a net margin of 9.63%. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.62 EPS. On average, equities research analysts forecast that J M Smucker Co will post $7.65 earnings per share for the current fiscal year.
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Several research analysts have recently issued reports on the stock. Morgan Stanley cut shares of J M Smucker from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $132.00 to $126.00 in a report on Monday, April 10th. Deutsche Bank AG assumed coverage on shares of J M Smucker in a report on Wednesday, February 15th. They issued a “hold” rating and a $145.00 target price on the stock. Zacks Investment Research cut shares of J M Smucker from a “hold” rating to a “sell” rating in a report on Wednesday, January 18th. Jefferies Group LLC restated a “hold” rating and issued a $130.00 target price (up previously from $125.00) on shares of J M Smucker in a report on Thursday, February 23rd. Finally, Sanford C. Bernstein cut shares of J M Smucker from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $147.00 to $130.00 in a report on Tuesday, March 21st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $138.55.
In related news, Director Jay L. Henderson purchased 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The shares were bought at an average price of $139.87 per share, for a total transaction of $419,610.00. Following the acquisition, the director now owns 3,000 shares of the company’s stock, valued at approximately $419,610. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.50% of the stock is owned by corporate insiders.
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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