481,503 Shares in J M Smucker Co (SJM) Acquired by Renaissance Technologies LLC
Renaissance Technologies LLC bought a new stake in J M Smucker Co (NYSE:SJM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 481,503 shares of the company’s stock, valued at approximately $51,752,000. Renaissance Technologies LLC owned approximately 0.42% of J M Smucker as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Hall Laurie J Trustee raised its holdings in shares of J M Smucker by 153.1% in the first quarter. Hall Laurie J Trustee now owns 810 shares of the company’s stock worth $101,000 after buying an additional 490 shares during the last quarter. Signaturefd LLC purchased a new position in shares of J M Smucker in the first quarter worth $106,000. Clarus Wealth Advisors purchased a new position in shares of J M Smucker in the second quarter worth $109,000. WealthTrust Fairport LLC purchased a new position in shares of J M Smucker in the first quarter worth $143,000. Finally, Squar Milner Financial Services LLC purchased a new position in shares of J M Smucker in the second quarter worth $160,000. Institutional investors own 82.86% of the company’s stock.
In other J M Smucker news, insider Joseph Stanziano sold 970 shares of J M Smucker stock in a transaction on Tuesday, June 19th. The shares were sold at an average price of $105.00, for a total value of $101,850.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jeannette L. Knudsen sold 1,000 shares of J M Smucker stock in a transaction on Friday, June 29th. The shares were sold at an average price of $108.29, for a total transaction of $108,290.00. Following the completion of the transaction, the senior vice president now directly owns 27,724 shares of the company’s stock, valued at approximately $3,002,231.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,488 shares of company stock valued at $1,254,598. 3.92% of the stock is currently owned by corporate insiders.
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, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the company posted $0.96 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. equities analysts anticipate that J M Smucker Co will post 8.43 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Friday, August 17th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Thursday, August 16th. This is a boost from J M Smucker’s previous quarterly dividend of $0.78. J M Smucker’s dividend payout ratio (DPR) is 42.71%.
SJM has been the subject of a number of research analyst reports. Citigroup decreased their price target on shares of J M Smucker from $155.00 to $127.00 and set a “buy” rating for the company in a report on Friday, June 8th. Susquehanna Bancshares set a $159.00 price target on shares of J M Smucker and gave the stock a “buy” rating in a report on Saturday, June 9th. Zacks Investment Research cut shares of J M Smucker from a “hold” rating to a “strong sell” rating in a report on Friday, July 6th. Credit Suisse Group decreased their price target on shares of J M Smucker from $115.00 to $98.00 and set an “underperform” rating for the company in a report on Tuesday, June 5th. Finally, ValuEngine raised shares of J M Smucker from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 27th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target 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.
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