DNB Asset Management AS raised its holdings in J M Smucker Co (NYSE:SJM) by 18.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 20,637 shares of the company’s stock after acquiring an additional 3,152 shares during the period. DNB Asset Management AS’s holdings in J M Smucker were worth $2,118,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of SJM. Clarus Wealth Advisors purchased a new stake in J M Smucker in the 2nd quarter valued at about $109,000. CSat Investment Advisory L.P. purchased a new stake in J M Smucker in the 2nd quarter valued at about $122,000. WealthTrust Fairport LLC purchased a new stake in J M Smucker in the 1st quarter valued at about $143,000. Squar Milner Financial Services LLC purchased a new stake in J M Smucker in the 2nd quarter valued at about $160,000. Finally, IMS Capital Management purchased a new stake in J M Smucker in the 2nd quarter valued at about $181,000. Institutional investors own 82.77% of the company’s stock.
Several analysts have commented on the company. Bank of America restated a “neutral” rating and issued a $106.00 price target on shares of J M Smucker in a report on Wednesday, October 3rd. 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 set a $95.00 price target on J M Smucker and gave the company a “sell” rating in a report on Friday, September 21st. Zacks Investment Research upgraded J M Smucker from a “sell” rating to a “hold” rating in a report on Tuesday, September 11th. Finally, ValuEngine cut J M Smucker from a “sell” rating to a “strong sell” rating in a report on Thursday, August 23rd. Five analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $120.62.
J M Smucker (NYSE:SJM) last released its quarterly earnings data on Tuesday, August 21st. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.02. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.95 billion. J M Smucker had a return on equity of 12.20% and a net margin of 17.91%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS. Sell-side analysts expect that J M Smucker Co will post 8.43 EPS for the current fiscal year.
In other news, SVP Jeannette L. Knudsen sold 1,500 shares of J M Smucker stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $110.74, for a total value of $166,110.00. Following the transaction, the senior vice president now directly owns 26,224 shares of the company’s stock, valued at approximately $2,904,045.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.92% of the company’s stock.
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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