J M Smucker Target of Unusually High Options Trading (SJM)

J M Smucker Co (NYSE:SJM) was the target of unusually large options trading activity on Wednesday. Investors bought 5,154 call options on the stock. This is an increase of approximately 1,038% compared to the typical daily volume of 453 call options.

NYSE SJM opened at $103.80 on Thursday. J M Smucker has a 12-month low of $96.13 and a 12-month high of $133.38. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.17. The company has a market capitalization of $11.67 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.87 and a beta of 0.53.

J M Smucker (NYSE:SJM) last posted its quarterly earnings results on Tuesday, August 21st. The company reported $1.78 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Research analysts predict that J M Smucker will post 8.43 earnings per share for the current fiscal year.

In other J M Smucker news, SVP Jeannette L. Knudsen sold 1,500 shares of J M Smucker stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $110.74, for a total value of $166,110.00. Following the sale, the senior vice president now owns 26,224 shares of the company’s stock, valued at $2,904,045.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.92% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of J M Smucker by 5.4% in the second quarter. BlackRock Inc. now owns 9,452,323 shares of the company’s stock valued at $1,015,934,000 after purchasing an additional 484,096 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in J M Smucker by 1.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,959,125 shares of the company’s stock worth $425,526,000 after acquiring an additional 61,426 shares during the period. LSV Asset Management increased its holdings in J M Smucker by 2.4% during the 2nd quarter. LSV Asset Management now owns 2,656,118 shares of the company’s stock worth $285,479,000 after acquiring an additional 61,475 shares during the period. Ariel Investments LLC increased its holdings in J M Smucker by 6.6% during the 2nd quarter. Ariel Investments LLC now owns 1,767,460 shares of the company’s stock worth $189,967,000 after acquiring an additional 108,828 shares during the period. Finally, Northern Trust Corp increased its holdings in J M Smucker by 4.0% during the 2nd quarter. Northern Trust Corp now owns 1,561,484 shares of the company’s stock worth $167,828,000 after acquiring an additional 60,352 shares during the period. 82.77% of the stock is currently owned by institutional investors.

SJM has been the topic of several research reports. Credit Suisse Group lifted their price objective on shares of J M Smucker from $90.00 to $95.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 27th. ValuEngine raised shares of J M Smucker from a “strong sell” rating to a “sell” rating in a research 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 research report on Friday, July 6th. Wolfe Research lowered shares of J M Smucker from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, September 26th. Finally, Bank of America reissued a “neutral” rating and issued a $106.00 price target on shares of J M Smucker in a research report on Wednesday, October 3rd. Five analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $120.62.

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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