Renaissance Technologies LLC Has $46.76 Million Position in The J. M. Smucker Company (NYSE:SJM)

Renaissance Technologies LLC raised its holdings in shares of The J. M. Smucker Company (NYSE:SJMFree Report) by 77.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 428,848 shares of the company’s stock after purchasing an additional 187,481 shares during the quarter. Renaissance Technologies LLC’s holdings in J. M. Smucker were worth $46,762,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SJM. Studio Investment Management LLC acquired a new stake in shares of J. M. Smucker during the 2nd quarter worth about $26,000. Cooksen Wealth LLC bought a new position in J. M. Smucker in the 4th quarter valued at about $33,000. Rothschild Investment LLC acquired a new stake in J. M. Smucker during the second quarter worth approximately $42,000. Principal Securities Inc. bought a new stake in shares of J. M. Smucker during the fourth quarter worth approximately $43,000. Finally, Central Valley Advisors LLC acquired a new position in shares of J. M. Smucker in the second quarter valued at approximately $45,000. 81.66% of the stock is owned by institutional investors.

J. M. Smucker Trading Down 1.0 %

Shares of SJM stock opened at $119.71 on Wednesday. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $134.62. The stock’s fifty day moving average price is $118.19 and its two-hundred day moving average price is $116.18. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55. The company has a market cap of $12.74 billion, a PE ratio of 16.81, a P/E/G ratio of 3.20 and a beta of 0.24.

J. M. Smucker (NYSE:SJMGet Free Report) last released its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.27. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. J. M. Smucker’s revenue was up 17.7% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. Equities analysts predict that The J. M. Smucker Company will post 9.82 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were paid a $1.08 dividend. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Friday, August 16th. This represents a $4.32 annualized dividend and a yield of 3.61%. J. M. Smucker’s dividend payout ratio is presently 60.67%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SJM shares. Argus dropped their price target on J. M. Smucker from $150.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, June 13th. StockNews.com cut shares of J. M. Smucker from a “hold” rating to a “sell” rating in a research report on Saturday. BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. Barclays dropped their price objective on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. Finally, Wells Fargo & Company decreased their target price on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $127.25.

View Our Latest Analysis on SJM

Insider Buying and Selling at J. M. Smucker

In other news, CEO Mark T. Smucker sold 10,000 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the completion of the transaction, the chief executive officer now directly owns 78,757 shares in the company, valued at $8,675,871.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.40% of the company’s stock.

About J. M. Smucker

(Free Report)

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in three segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, toppings, and syrups; jelly products; nut mix products; shortening and oils; frozen sandwiches and snacks; pet food and pet snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, juices and beverages, and baking mixes and ingredients.

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

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