Hodges Capital Management Inc. Acquires Shares of 3,852 J M Smucker Co (SJM)

Hodges Capital Management Inc. acquired a new stake in J M Smucker Co (NYSE:SJM) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 3,852 shares of the company’s stock, valued at approximately $449,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SJM. Franklin Resources Inc. raised its holdings in shares of J M Smucker by 5.7% in the third quarter. Franklin Resources Inc. now owns 22,448 shares of the company’s stock valued at $2,303,000 after purchasing an additional 1,208 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of J M Smucker in the third quarter valued at approximately $864,000. Pacer Advisors Inc. raised its holdings in shares of J M Smucker by 20.9% in the third quarter. Pacer Advisors Inc. now owns 6,223 shares of the company’s stock valued at $639,000 after purchasing an additional 1,076 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of J M Smucker by 52.0% in the third quarter. Mackenzie Financial Corp now owns 4,438 shares of the company’s stock valued at $455,000 after purchasing an additional 1,519 shares during the last quarter. Finally, Smith Moore & CO. raised its holdings in shares of J M Smucker by 10.1% in the third quarter. Smith Moore & CO. now owns 6,234 shares of the company’s stock valued at $640,000 after purchasing an additional 571 shares during the last quarter. Institutional investors own 77.98% of the company’s stock.

SJM has been the topic of a number of recent research reports. Zacks Investment Research reiterated a “sell” rating on shares of J M Smucker in a report on Monday, December 31st. Citigroup lifted their price objective on shares of J M Smucker from $122.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. ValuEngine downgraded shares of J M Smucker from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Wells Fargo & Co boosted their target price on shares of J M Smucker from $100.00 to $105.00 and gave the stock a “market perform” rating in a report on Monday, February 25th. Finally, Credit Suisse Group boosted their target price on shares of J M Smucker from $94.00 to $96.00 and gave the stock an “underperform” rating in a report on Wednesday, February 27th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $114.91.

In related news, SVP Jeannette L. Knudsen sold 1,932 shares of the business’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 in the company, valued at $2,498,675.12. The sale was disclosed in a filing with the SEC, which is available through this link. 3.92% of the stock is currently owned by insiders.

Shares of SJM opened at $118.93 on Wednesday. The firm has a market cap of $13.56 billion, a P/E ratio of 14.94, a PEG ratio of 2.50 and a beta of 0.56. J M Smucker Co has a 1-year low of $91.32 and a 1-year high of $121.48. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.44 and a current ratio of 0.95.

J M Smucker (NYSE:SJM) last issued its earnings results on Tuesday, February 26th. The company reported $2.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.23. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. J M Smucker had a net margin of 8.15% and a return on equity of 11.61%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.50 earnings per share. On average, analysts predict that J M Smucker Co will post 8.16 earnings per share for the current year.

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J M Smucker Company 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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