American International Group Inc. raised its holdings in J M Smucker Co (NYSE:SJM) by 6.0% during the third quarter, Holdings Channel reports. The fund owned 47,182 shares of the company’s stock after purchasing an additional 2,673 shares during the period. American International Group Inc.’s holdings in J M Smucker were worth $4,841,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SJM. BlackRock Inc. grew its holdings in shares of J M Smucker by 0.8% during the third quarter. BlackRock Inc. now owns 9,530,746 shares of the company’s stock worth $977,951,000 after purchasing an additional 78,423 shares during the last quarter. LSV Asset Management grew its holdings in shares of J M Smucker by 2.4% during the second quarter. LSV Asset Management now owns 2,656,118 shares of the company’s stock worth $285,479,000 after purchasing an additional 61,475 shares during the last quarter. Ariel Investments LLC grew its holdings in shares of J M Smucker by 6.6% during the second quarter. Ariel Investments LLC now owns 1,767,460 shares of the company’s stock worth $189,967,000 after purchasing an additional 108,828 shares during the last quarter. Northern Trust Corp grew its holdings in shares of J M Smucker by 4.0% during the second quarter. Northern Trust Corp now owns 1,561,484 shares of the company’s stock worth $167,828,000 after purchasing an additional 60,352 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of J M Smucker by 6.2% during the third quarter. Wells Fargo & Company MN now owns 1,430,581 shares of the company’s stock worth $146,792,000 after purchasing an additional 83,093 shares during the last quarter. Hedge funds and other institutional investors own 79.44% of the company’s stock.

In related news, SVP Jeannette L. Knudsen sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $110.74, for a total value of $166,110.00. Following the sale, the senior vice president now directly owns 26,224 shares in the company, valued at $2,904,045.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard K. Smucker bought 20,000 shares of J M Smucker stock in a transaction that occurred on Friday, November 30th. The stock was bought at an average price of $103.09 per share, for a total transaction of $2,061,800.00. Following the completion of the acquisition, the chairman now directly owns 681,387 shares of the company’s stock, valued at $70,244,185.83. The disclosure for this purchase can be found here. Corporate insiders own 3.92% of the company’s stock.

SJM has been the topic of several research reports. Jefferies Financial Group set a $125.00 price target on J M Smucker and gave the stock a “buy” rating in a report on Wednesday, November 28th. Wolfe Research cut J M Smucker from a “peer perform” rating to an “underperform” rating in a report on Wednesday, September 26th. Credit Suisse Group upgraded J M Smucker to a “hold” rating and set a $94.00 price target on the stock in a report on Thursday, November 29th. Zacks Investment Research upgraded J M Smucker from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. Finally, ValuEngine cut J M Smucker from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. Five 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. J M Smucker has a consensus rating of “Hold” and an average target price of $117.33.

Shares of SJM stock opened at $98.17 on Friday. J M Smucker Co has a one year low of $96.13 and a one year high of $133.38. The company has a market capitalization of $11.63 billion, a P/E ratio of 12.33, a P/E/G ratio of 2.15 and a beta of 0.38. The company has a current ratio of 1.25, a quick ratio of 0.57 and a debt-to-equity ratio of 0.73.

J M Smucker (NYSE:SJM) last announced its earnings results on Wednesday, November 28th. The company reported $2.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.29 by ($0.12). J M Smucker had a net margin of 17.59% and a return on equity of 12.03%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the company earned $2.02 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts anticipate that J M Smucker Co will post 7.99 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Friday, November 16th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.46%. The ex-dividend date was Thursday, November 15th. J M Smucker’s payout ratio is presently 42.71%.

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About J M Smucker

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

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