J.M. Smucker Company (The) (NYSE:SJM) Stake Lowered by Mandatum Life Insurance Co Ltd

Mandatum Life Insurance Co Ltd cut its position in shares of J.M. Smucker Company (The) (NYSE:SJM) by 14.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,612 shares of the company’s stock after selling 985 shares during the period. Mandatum Life Insurance Co Ltd’s holdings in J.M. Smucker Company (The) were worth $664,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cardinal Capital Management Inc. increased its position in shares of J.M. Smucker Company (The) by 11.5% in the first quarter. Cardinal Capital Management Inc. now owns 99,665 shares of the company’s stock worth $13,064,000 after buying an additional 10,260 shares in the last quarter. West Oak Capital LLC increased its position in shares of J.M. Smucker Company (The) by 17.4% in the first quarter. West Oak Capital LLC now owns 8,105 shares of the company’s stock worth $1,062,000 after buying an additional 1,200 shares in the last quarter. Smith Salley & Associates increased its position in shares of J.M. Smucker Company (The) by 14.9% in the first quarter. Smith Salley & Associates now owns 1,992 shares of the company’s stock worth $261,000 after buying an additional 259 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of J.M. Smucker Company (The) by 264.9% in the first quarter. BNP Paribas Arbitrage SA now owns 99,542 shares of the company’s stock worth $13,048,000 after buying an additional 72,260 shares in the last quarter. Finally, Norinchukin Bank The increased its position in shares of J.M. Smucker Company (The) by 7.1% in the first quarter. Norinchukin Bank The now owns 7,566 shares of the company’s stock worth $992,000 after buying an additional 503 shares in the last quarter. 75.47% of the stock is currently owned by institutional investors and hedge funds.

J.M. Smucker Company (SJM) traded up 0.46% during midday trading on Friday, hitting $122.28. 448,769 shares of the stock traded hands. The company has a 50-day moving average of $119.21 and a 200-day moving average of $128.65. The stock has a market cap of $13.87 billion, a PE ratio of 23.98 and a beta of 0.62. J.M. Smucker Company has a 1-year low of $114.31 and a 1-year high of $156.23.

J.M. Smucker Company (The) (NYSE:SJM) last released its earnings results on Thursday, June 8th. The company reported $1.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.08. The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.77 billion. J.M. Smucker Company (The) had a net margin of 8.01% and a return on equity of 12.63%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.19 EPS. On average, equities analysts expect that J.M. Smucker Company will post $7.97 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be paid a dividend of $0.78 per share. This is a boost from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. This represents a $3.12 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Wednesday, August 9th. J.M. Smucker Company (The)’s dividend payout ratio is presently 61.18%.

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A number of equities analysts have recently commented on SJM shares. Zacks Investment Research raised shares of J.M. Smucker Company (The) from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Credit Suisse Group reissued a “neutral” rating and issued a $120.00 target price (down previously from $126.00) on shares of J.M. Smucker Company (The) in a research note on Monday, July 3rd. They noted that the move was a valuation call. Jefferies Group LLC raised shares of J.M. Smucker Company (The) from a “hold” rating to a “buy” rating and raised their target price for the company from $130.00 to $140.00 in a research note on Friday, July 28th. Citigroup Inc. cut their target price on shares of J.M. Smucker Company (The) from $161.00 to $155.00 and set a “buy” rating on the stock in a research note on Tuesday, May 9th. Finally, Hilliard Lyons raised shares of J.M. Smucker Company (The) from a “neutral” rating to a “long-term buy” rating and set a $140.00 target price on the stock in a research note on Tuesday, July 11th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, six have assigned 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 a consensus target price of $132.82.

In related news, insider Steven Oakland sold 6,047 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $122.00, for a total transaction of $737,734.00. Following the completion of the transaction, the insider now directly owns 47,667 shares in the company, valued at approximately $5,815,374. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jill R. Penrose sold 550 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $120.09, for a total transaction of $66,049.50. Following the transaction, the senior vice president now owns 13,475 shares of the company’s stock, valued at $1,618,212.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,030 shares of company stock valued at $1,948,195. Corporate insiders own 3.50% of the company’s stock.

About J.M. Smucker Company (The)

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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