Canada Pension Plan Investment Board boosted its position in shares of J.M. Smucker Company (The) (NYSE:SJM) by 221.7% during the second quarter, Holdings Channel reports. The firm owned 153,849 shares of the company’s stock after buying an additional 106,028 shares during the period. Canada Pension Plan Investment Board’s holdings in J.M. Smucker Company (The) were worth $18,205,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Harbour Capital Advisors LLC purchased a new stake in shares of J.M. Smucker Company (The) during the first quarter worth approximately $126,000. Schnieders Capital Management LLC purchased a new stake in shares of J.M. Smucker Company (The) during the first quarter worth approximately $217,000. Advisory Services Network LLC purchased a new stake in shares of J.M. Smucker Company (The) during the first quarter worth approximately $221,000. HPM Partners LLC purchased a new stake in shares of J.M. Smucker Company (The) during the first quarter worth approximately $229,000. Finally, Independence Advisors LLC purchased a new stake in shares of J.M. Smucker Company (The) during the second quarter worth approximately $232,000. 75.09% of the stock is owned by hedge funds and other institutional investors.

J.M. Smucker Company (NYSE:SJM) opened at 123.01 on Tuesday. J.M. Smucker Company has a 12-month low of $114.31 and a 12-month high of $156.23. The company has a market cap of $13.95 billion, a price-to-earnings ratio of 24.12 and a beta of 0.62. The stock has a 50 day moving average price of $119.27 and a 200-day moving average price of $128.47.

J.M. Smucker Company (The) (NYSE:SJM) last posted its quarterly earnings results on Thursday, June 8th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 12.63% and a net margin of 8.01%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.19 EPS. On average, analysts predict that J.M. Smucker Company will post $7.97 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $3.12 annualized dividend and a dividend yield of 2.54%. This is an increase from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. J.M. Smucker Company (The)’s dividend payout ratio is presently 61.18%.

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A number of equities research analysts have commented on the company. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $128.00 price objective (down previously from $132.00) on shares of J.M. Smucker Company (The) in a research note on Wednesday, May 31st. Jefferies Group LLC reissued a “hold” rating and issued a $130.00 price objective on shares of J.M. Smucker Company (The) in a research note on Wednesday, April 26th. Zacks Investment Research cut J.M. Smucker Company (The) from a “hold” rating to a “sell” rating in a research note on Monday, May 8th. Deutsche Bank AG reissued a “hold” rating and issued a $131.00 price objective (down previously from $135.00) on shares of J.M. Smucker Company (The) in a research note on Thursday, July 13th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $126.00 price objective on shares of J.M. Smucker Company (The) in a research note on Thursday, June 1st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $132.82.

In related news, Director Sandra Pianalto purchased 250 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The shares were bought at an average price of $120.61 per share, for a total transaction of $30,152.50. Following the purchase, the director now directly owns 250 shares of the company’s stock, valued at approximately $30,152.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Oakland sold 6,047 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $122.00, for a total value of $737,734.00. Following the completion of the sale, the insider now owns 47,667 shares in the company, valued at approximately $5,815,374. The disclosure for this sale can be found here. Insiders sold a total of 16,030 shares of company stock worth $1,948,195 in the last 90 days. 3.50% of the stock is currently owned by company insiders.

J.M. Smucker Company (The) Company Profile

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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