First Republic Investment Management Inc. Grows Stake in J M Smucker Co (SJM)
First Republic Investment Management Inc. raised its holdings in shares of J M Smucker Co (NYSE:SJM) by 92.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 21,234 shares of the company’s stock after purchasing an additional 10,197 shares during the quarter. First Republic Investment Management Inc.’s holdings in J M Smucker were worth $2,282,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in SJM. PNC Financial Services Group Inc. grew its holdings in shares of J M Smucker by 290.9% during the first quarter. PNC Financial Services Group Inc. now owns 963,047 shares of the company’s stock worth $119,426,000 after buying an additional 716,707 shares in the last quarter. BlackRock Inc. grew its holdings in shares of J M Smucker by 8.2% during the first quarter. BlackRock Inc. now owns 8,968,227 shares of the company’s stock worth $1,112,150,000 after buying an additional 680,394 shares in the last quarter. Unigestion Holding SA purchased a new stake in shares of J M Smucker during the second quarter worth $58,578,000. Renaissance Technologies LLC purchased a new stake in shares of J M Smucker during the second quarter worth $51,752,000. Finally, Thompson Siegel & Walmsley LLC grew its holdings in shares of J M Smucker by 88.0% during the second quarter. Thompson Siegel & Walmsley LLC now owns 700,106 shares of the company’s stock worth $75,248,000 after buying an additional 327,621 shares in the last quarter. 82.86% of the stock is owned by institutional investors and hedge funds.
In other J M Smucker news, insider Mark T. Smucker sold 2,500 shares of the company’s stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $111.02, for a total value of $277,550.00. Following the transaction, the insider now owns 121,179 shares of the company’s stock, valued at $13,453,292.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jeannette L. Knudsen sold 1,500 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $110.74, for a total transaction of $166,110.00. Following the completion of the transaction, the senior vice president now directly owns 26,224 shares in the company, valued at approximately $2,904,045.76. The disclosure for this sale can be found here. Insiders sold 10,518 shares of company stock worth $1,152,748 in the last ninety days. 3.92% of the stock is currently owned by corporate insiders.
J M Smucker (NYSE:SJM) last announced its quarterly earnings data on Tuesday, August 21st. The company reported $1.78 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analyst estimates of $1.95 billion. During the same quarter in the prior year, the firm posted $0.96 earnings per share. J M Smucker’s quarterly revenue was up 9.0% on a year-over-year basis. equities research analysts anticipate that J M Smucker Co will post 8.43 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Friday, August 17th were given a $0.85 dividend. The ex-dividend date was Thursday, August 16th. This represents a $3.40 dividend on an annualized basis and a yield of 3.05%. This is a boost from J M Smucker’s previous quarterly dividend of $0.78. J M Smucker’s dividend payout ratio is presently 42.71%.
A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of J M Smucker from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 27th. Credit Suisse Group upped their price objective on shares of J M Smucker from $90.00 to $95.00 and gave the company an “underperform” rating in a report on Wednesday, June 27th. Zacks Investment Research lowered shares of J M Smucker from a “hold” rating to a “strong sell” rating in a report on Friday, July 6th. Deutsche Bank set a $97.00 price objective on shares of J M Smucker and gave the company a “hold” rating in a report on Friday, June 8th. Finally, Barclays reissued a “hold” rating on shares of J M Smucker in a report on Monday, June 11th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $121.83.
J M Smucker 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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