Seven Eight Capital LP Purchases 5,100 Shares of J.M. Smucker Company (The) (SJM)

Seven Eight Capital LP lifted its position in shares of J.M. Smucker Company (The) (NYSE:SJM) by 108.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,800 shares of the company’s stock after acquiring an additional 5,100 shares during the quarter. Seven Eight Capital LP’s holdings in J.M. Smucker Company (The) were worth $1,160,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SJM. Suntrust Banks Inc. boosted its holdings in shares of J.M. Smucker Company (The) by 1.7% during the 1st quarter. Suntrust Banks Inc. now owns 25,970 shares of the company’s stock valued at $3,402,000 after acquiring an additional 425 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of J.M. Smucker Company (The) by 264.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 99,542 shares of the company’s stock valued at $13,048,000 after acquiring an additional 72,260 shares in the last quarter. Cue Financial Group Inc. boosted its holdings in shares of J.M. Smucker Company (The) by 1.0% during the 1st quarter. Cue Financial Group Inc. now owns 5,151 shares of the company’s stock valued at $675,000 after acquiring an additional 50 shares in the last quarter. CLS Investments LLC boosted its holdings in shares of J.M. Smucker Company (The) by 1,745.8% during the 1st quarter. CLS Investments LLC now owns 1,975 shares of the company’s stock valued at $259,000 after acquiring an additional 1,868 shares in the last quarter. Finally, Comerica Bank boosted its holdings in shares of J.M. Smucker Company (The) by 16.0% during the 1st quarter. Comerica Bank now owns 37,228 shares of the company’s stock valued at $4,707,000 after acquiring an additional 5,147 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

J.M. Smucker Company (NYSE:SJM) opened at 108.52 on Friday. The company has a 50-day moving average price of $115.08 and a 200 day moving average price of $124.36. The stock has a market cap of $12.33 billion, a P/E ratio of 22.79 and a beta of 0.62. J.M. Smucker Company has a 1-year low of $103.50 and a 1-year high of $143.68.

J.M. Smucker Company (The) (NYSE:SJM) last issued its earnings results on Thursday, August 24th. The company reported $1.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.10). J.M. Smucker Company (The) had a return on equity of 12.06% and a net margin of 7.50%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the prior year, the business posted $1.86 EPS. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities analysts expect that J.M. Smucker Company will post $7.74 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were issued a $0.78 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $3.12 annualized dividend and a yield of 2.88%. This is a boost from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. J.M. Smucker Company (The)’s dividend payout ratio (DPR) is currently 65.55%.

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Several brokerages have commented on SJM. Zacks Investment Research raised J.M. Smucker Company (The) from a “sell” rating to a “hold” rating in a report on Thursday. BidaskClub downgraded J.M. Smucker Company (The) from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Citigroup Inc. cut their target price on J.M. Smucker Company (The) from $155.00 to $133.00 and set a “buy” rating on the stock in a report on Friday, August 25th. Morgan Stanley reaffirmed a “sell” rating and set a $108.00 target price (down from $114.00) on shares of J.M. Smucker Company (The) in a report on Friday, August 25th. Finally, Credit Suisse Group set a $110.00 target price on J.M. Smucker Company (The) and gave the stock a “hold” rating in a report on Friday, August 25th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $126.73.

In other J.M. Smucker Company (The) news, Director Sandra Pianalto purchased 250 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were acquired 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 legal filing with the SEC, which is available through the SEC website. Also, insider Steven Oakland sold 6,047 shares of J.M. Smucker Company (The) stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $122.00, for a total transaction of $737,734.00. Following the transaction, 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. In the last 90 days, insiders purchased 11,250 shares of company stock worth $1,191,453 and sold 16,030 shares worth $1,948,195. Company insiders own 3.50% of the company’s stock.

J.M. Smucker Company (The) 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.

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

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