J.M. Smucker Company (The) (NYSE:SJM) Position Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in shares of J.M. Smucker Company (The) (NYSE:SJM) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 12,171 shares of the company’s stock after buying an additional 31 shares during the period. CIBC Asset Management Inc’s holdings in J.M. Smucker Company (The) were worth $1,440,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC bought a new stake in J.M. Smucker Company (The) during the first quarter valued at $126,000. Fenimore Asset Management Inc. bought a new stake in J.M. Smucker Company (The) during the first quarter valued at $200,000. Schnieders Capital Management LLC bought a new stake in J.M. Smucker Company (The) during the first quarter valued at $217,000. Advisory Services Network LLC bought a new stake in J.M. Smucker Company (The) during the first quarter valued at $221,000. Finally, HPM Partners LLC bought a new stake in J.M. Smucker Company (The) during the first quarter valued at $229,000. Institutional investors own 75.47% of the company’s stock.

J.M. Smucker Company (NYSE:SJM) opened at 121.72 on Friday. The firm’s 50-day moving average is $119.18 and its 200-day moving average is $128.73. J.M. Smucker Company has a 52 week low of $114.31 and a 52 week high of $156.23. The company has a market cap of $13.81 billion, a PE ratio of 23.87 and a beta of 0.62.

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, beating the Zacks’ consensus estimate of $1.72 by $0.08. The firm had revenue of $1.78 billion during 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 business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS. On average, analysts expect that J.M. Smucker Company will post $7.97 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be issued a $0.78 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $3.12 dividend on an annualized basis and a yield of 2.56%. This is an increase from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. J.M. Smucker Company (The)’s payout ratio is currently 61.18%.

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Several research firms recently weighed in on SJM. Jefferies Group LLC upgraded shares of J.M. Smucker Company (The) from a “hold” rating to a “buy” rating and increased their target price for the company from $130.00 to $140.00 in a research note on Friday, July 28th. Deutsche Bank AG reiterated a “hold” rating and issued a $131.00 target price (down previously from $135.00) on shares of J.M. Smucker Company (The) in a research note on Thursday, July 13th. Morgan Stanley reiterated an “underweight” rating and issued a $114.00 target price (down previously from $126.00) on shares of J.M. Smucker Company (The) in a research note on Tuesday, July 18th. Susquehanna Bancshares Inc set a $141.00 target price on shares of J.M. Smucker Company (The) and gave the company a “hold” rating in a research note on Wednesday, June 7th. Finally, Hilliard Lyons upgraded shares of J.M. Smucker Company (The) from a “neutral” rating to a “long-term buy” rating and set a $140.00 target price for the company in a research note on Tuesday, July 11th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $132.82.

In other J.M. Smucker Company (The) news, insider Barry C. Dunaway sold 9,433 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $121.32, for a total value of $1,144,411.56. Following the completion of the sale, the insider now owns 40,966 shares of the company’s stock, valued at approximately $4,969,995.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jill R. Penrose sold 550 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $120.09, for a total transaction of $66,049.50. Following the completion of the sale, the senior vice president now directly owns 13,475 shares of the company’s stock, valued at approximately $1,618,212.75. The disclosure for this sale can be found here. Insiders sold a total of 16,030 shares of company stock valued at $1,948,195 in the last three months. Insiders own 3.50% of the company’s stock.

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

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