J M Smucker Co (SJM) Holdings Lowered by Texas Permanent School Fund

Texas Permanent School Fund cut its position in J M Smucker Co (NYSE:SJM) by 3.3% during the first quarter, Holdings Channel reports. The firm owned 22,131 shares of the company’s stock after selling 750 shares during the quarter. Texas Permanent School Fund’s holdings in J M Smucker were worth $2,578,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Quantamental Technologies LLC purchased a new position in shares of J M Smucker in the 4th quarter valued at $28,000. Howe & Rusling Inc. grew its position in shares of J M Smucker by 218.3% in the 4th quarter. Howe & Rusling Inc. now owns 296 shares of the company’s stock valued at $28,000 after buying an additional 203 shares during the last quarter. Pinnacle Bank purchased a new position in shares of J M Smucker in the 4th quarter valued at $39,000. Meeder Asset Management Inc. purchased a new position in shares of J M Smucker in the 4th quarter valued at $44,000. Finally, Private Capital Group LLC purchased a new position in shares of J M Smucker in the 4th quarter valued at $50,000. 79.50% of the stock is currently owned by institutional investors.

J M Smucker stock traded up $1.73 during midday trading on Friday, hitting $127.47. 138,310 shares of the company’s stock were exchanged, compared to its average volume of 596,548. J M Smucker Co has a 12-month low of $91.32 and a 12-month high of $128.38. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.44 and a current ratio of 0.95. The company has a market capitalization of $14.50 billion, a P/E ratio of 16.01, a PEG ratio of 2.94 and a beta of 0.58.

J M Smucker (NYSE:SJM) last issued its quarterly earnings data on Tuesday, February 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.23. J M Smucker had a net margin of 8.15% and a return on equity of 11.61%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period last year, the firm posted $2.50 EPS. J M Smucker’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities analysts expect that J M Smucker Co will post 8.15 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, May 16th. J M Smucker’s payout ratio is currently 42.71%.

In other J M Smucker news, SVP Jeannette L. Knudsen sold 1,932 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $102.86, for a total transaction of $198,725.52. Following the transaction, the senior vice president now directly owns 24,292 shares of the company’s stock, valued at approximately $2,498,675.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.92% of the company’s stock.

SJM has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of J M Smucker from a “hold” rating to a “sell” rating in a research report on Monday, January 21st. Guggenheim initiated coverage on shares of J M Smucker in a research report on Tuesday, January 22nd. They issued a “sell” rating and a $85.00 target price on the stock. Wells Fargo & Co increased their target price on shares of J M Smucker from $100.00 to $105.00 and gave the company a “market perform” rating in a research report on Monday, February 25th. Jefferies Financial Group set a $125.00 target price on shares of J M Smucker and gave the company a “buy” rating in a research report on Tuesday, February 26th. Finally, Citigroup increased their target price on shares of J M Smucker from $122.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $118.73.

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

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