Cambridge Investment Research Advisors Inc. lessened its holdings in J M Smucker Co (NYSE:SJM) by 16.1% during the second quarter, Holdings Channel reports. The institutional investor owned 12,629 shares of the company’s stock after selling 2,418 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in J M Smucker were worth $1,357,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alps Advisors Inc. purchased a new position in J M Smucker in the first quarter valued at approximately $453,000. Mackay Shields LLC purchased a new position in J M Smucker in the first quarter valued at approximately $2,371,000. Robeco Institutional Asset Management B.V. lifted its stake in J M Smucker by 15.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 99,432 shares of the company’s stock valued at $12,330,000 after purchasing an additional 13,530 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in J M Smucker by 4.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 449,485 shares of the company’s stock valued at $55,741,000 after purchasing an additional 17,927 shares during the last quarter. Finally, Pendal Group Ltd purchased a new position in J M Smucker in the first quarter valued at approximately $294,000. Hedge funds and other institutional investors own 82.86% of the company’s stock.

Shares of SJM stock opened at $109.19 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. J M Smucker Co has a 1 year low of $96.13 and a 1 year high of $133.38. The firm has a market cap of $12.46 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 2.00 and a beta of 0.52.

J M Smucker (NYSE:SJM) last issued its earnings results on Tuesday, August 21st. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.02. J M Smucker had a net margin of 17.91% and a return on equity of 12.20%. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the previous year, the firm posted $0.96 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. sell-side analysts expect that J M Smucker Co will post 8.43 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Friday, August 17th were issued a dividend of $0.85 per share. This is a boost from J M Smucker’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $3.40 dividend on an annualized basis and a yield of 3.11%. J M Smucker’s payout ratio is presently 42.71%.

In other J M Smucker news, SVP Jeannette L. Knudsen sold 1,500 shares of the business’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $110.74, for a total transaction of $166,110.00. Following the sale, the senior vice president now owns 26,224 shares of the company’s stock, valued at approximately $2,904,045.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jill R. Penrose sold 518 shares of the business’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $106.27, for a total transaction of $55,047.86. Following the sale, the senior vice president now directly owns 10,537 shares in the company, valued at approximately $1,119,766.99. The disclosure for this sale can be found here. Insiders have sold a total of 11,488 shares of company stock worth $1,254,598 in the last three months. Insiders own 3.92% of the company’s stock.

SJM has been the topic of several research analyst reports. Susquehanna Bancshares set a $159.00 price objective on J M Smucker and gave the company a “buy” rating in a research note on Sunday, June 3rd. Citigroup dropped their price objective on J M Smucker from $155.00 to $127.00 and set a “buy” rating on the stock in a research note on Friday, June 8th. Deutsche Bank set a $97.00 price objective on J M Smucker and gave the company a “hold” rating in a research note on Friday, June 8th. Wells Fargo & Co set a $100.00 price objective on J M Smucker and gave the company a “hold” rating in a research note on Tuesday, June 5th. Finally, Zacks Investment Research upgraded J M Smucker from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Five analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. J M Smucker presently has a consensus rating of “Hold” and a consensus target price of $121.83.

J M Smucker Company Profile

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company primarily offers coffee, pet food and pet snacks, peanut butter, fruit spreads, shortening and oils, baking mixes and ready-to-spread frostings, frozen sandwiches, flour and baking ingredients, juices and beverages, and portion control products.

Read More: Price to Earnings Ratio (PE) Basics

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

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