BB&T Securities LLC increased its stake in J.M. Smucker Company (The) (NYSE:SJM) by 51.1% during the first quarter, Holdings Channel reports. The institutional investor owned 70,543 shares of the company’s stock after buying an additional 23,856 shares during the period. BB&T Securities LLC’s holdings in J.M. Smucker Company (The) were worth $9,246,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SJM. Wells Fargo & Company MN raised its stake in shares of J.M. Smucker Company (The) by 9.7% in the first quarter. Wells Fargo & Company MN now owns 3,777,859 shares of the company’s stock valued at $495,201,000 after buying an additional 334,989 shares in the last quarter. FMR LLC raised its stake in shares of J.M. Smucker Company (The) by 35.3% in the fourth quarter. FMR LLC now owns 1,344,623 shares of the company’s stock valued at $172,193,000 after buying an additional 351,144 shares in the last quarter. Putnam Investments LLC raised its stake in shares of J.M. Smucker Company (The) by 1.7% in the fourth quarter. Putnam Investments LLC now owns 1,244,149 shares of the company’s stock valued at $159,326,000 after buying an additional 20,688 shares in the last quarter. Norges Bank bought a new stake in shares of J.M. Smucker Company (The) during the fourth quarter valued at approximately $138,979,000. Finally, JPMorgan Chase & Co. raised its stake in shares of J.M. Smucker Company (The) by 38.9% in the first quarter. JPMorgan Chase & Co. now owns 914,666 shares of the company’s stock valued at $119,896,000 after buying an additional 256,386 shares in the last quarter. 73.78% of the stock is currently owned by institutional investors and hedge funds.

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

J.M. Smucker Company (NYSE:SJM) traded down 0.48% during mid-day trading on Tuesday, hitting $123.56. 77,703 shares of the stock traded hands. The company’s 50 day moving average price is $126.96 and its 200-day moving average price is $131.43. J.M. Smucker Company has a 1-year low of $122.05 and a 1-year high of $157.31. The stock has a market cap of $14.12 billion, a price-to-earnings ratio of 24.23 and a beta of 0.58.

J.M. Smucker Company (The) (NYSE:SJM) last posted its quarterly earnings data on Thursday, June 8th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.08. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.77 billion. J.M. Smucker Company (The) had a net margin of 8.01% and a return on equity of 12.63%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.19 earnings per share. Analysts predict that J.M. Smucker Company will post $7.92 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Wednesday, May 10th. J.M. Smucker Company (The)’s payout ratio is 58.82%.

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SJM has been the topic of several research reports. Citigroup Inc. lowered their price objective on shares of J.M. Smucker Company (The) from $161.00 to $155.00 and set a “buy” rating on the stock in a research report on Tuesday, May 9th. Morgan Stanley lowered shares of J.M. Smucker Company (The) from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $132.00 to $126.00 in a research report on Monday, April 10th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $130.00 price objective (up previously from $125.00) on shares of J.M. Smucker Company (The) in a research report on Thursday, February 23rd. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $132.00 price objective (down previously from $135.00) on shares of J.M. Smucker Company (The) in a research report on Tuesday, April 25th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $126.00 price objective (down previously from $138.00) on shares of J.M. Smucker Company (The) in a research report on Friday, May 19th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. J.M. Smucker Company (The) currently has a consensus rating of “Hold” and a consensus target price of $134.20.

About J.M. Smucker Company (The)

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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