Aviva PLC, a prominent institutional investor, recently increased its holdings in The J. M. Smucker Company by 110.9% during the first quarter of this year, as reported in its 13F filing with the Securities and Exchange Commission. This resulted in Aviva PLC owning approximately 0.21% of J. M. Smucker, with a total of 223,185 shares valued at $35,123,000.
J. M. Smucker is a highly regarded company listed on the New York Stock Exchange under the ticker symbol “SJM.” The company has gained attention in the investment market due to its strong performance and consistent profitability.
In addition to increasing its holdings, J. M. Smucker recently announced a quarterly dividend payment scheduled for Friday, September 1st. Shareholders who were recorded as owners of shares on Friday, August 18th will receive a dividend payout of $1.06 per share. With an annualized basis of $4.24 per share and a dividend yield of 2.91%, this represents an increase from the previous quarterly dividend of $1.02.
It is worth mentioning that the ex-dividend date for this payout is Thursday, August 17th.
Although J. M. Smucker’s dividend payout ratio stands at -455.91%, indicating that the company pays out more in dividends than it earns in profit, investors still find its dividend strategy attractive due to its consistency and potential for future growth.
Investors looking to assess the company’s financial health will find Aviva PLC’s recent increase in holdings to be noteworthy.
As we reach September 2nd, 2023 and analyze recent developments within various investment markets, such as Aviva PLC’s increased stake in The J.M Smucker Company and their announcement of an enhanced dividend payment for shareholders; these factors signal positive prospects for J.M Smucker’s stock moving forward.
Moreover, the continued growth and profitability of J. M. Smucker are signs of a company that investors may want to keep an eye on as they navigate the complex landscape of the stock market.
It is important for potential investors to conduct thorough research and consult with financial professionals before making any investment decisions. The information provided here is intended to be informative and does not constitute financial advice.
As always, stay informed about the latest news and updates on your investments to make well-informed choices in the ever-evolving world of finance.
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Hedge Funds and Analysts Watch Closely as J.M. Smucker Attracts Attention
September 2, 2023 – The J. M. Smucker Company (NYSE: SJM) has attracted the attention of several hedge funds and institutional investors in recent months, with some increasing their stakes in the business while others have reduced their positions.
Blair William & Co. IL, for example, boosted its holdings in J. M. Smucker by 1.7% during the first quarter of this year. The company now owns 135,051 shares valued at $21,253,000 after acquiring an additional 2,250 shares in the last quarter. Similarly, BI Asset Management Fondsmaeglerselskab A S saw a significant boost of 223% in its position regarding shares of J. M. Smucker during the same period, now owning 617 shares worth $97,000 after acquiring an extra 426 shares.
Wellington Management Group LLP also increased its position by 21.1% during the first quarter and now owns 2,064 shares valued at $325,000 after acquiring an additional 360 shares in the last quarter. Meanwhile, Round Hill Asset Management’s position grew by 1.3%, bringing its total ownership to 7,371 shares worth $1,160,000 after gaining an extra 96 shares.
SeaCrest Wealth Management LLC rounds out this list with a modest increase of 9.9%. The company now owns 1,517 shares valued at $239,000 after acquiring an additional 137 shares.
In total, hedge funds and other institutional investors currently own approximately 79.08% of J. M. Smucker’s stock.
The interests surrounding J.M Smucker have also captured the attention of research analysts who have issued several reports on the company’s performance and outlook.
One such report from TheStreet downgraded J.M.Smucker’s rating from “a-” to “c+” in June earlier this year. Consumer Edge, on the other hand, upgraded the rating from “underweight” to “equal weight”, and also assigned the stock a price target of $154.00.
Sanford C. Bernstein raised their price target from $135.00 to $142.00 in a report published on June 7th while Bank of America increased its price target from $168.00 to $170.00.
Barclays, however, did not share the same optimism and reduced its price target from $165.00 to $160.00 in a report released on June 8th.
Data from Bloomberg suggests that J.M.Smucker currently holds a consensus rating of “Hold” and an average target price of $154.23.
Despite these developments surrounding J.M.Smucker, the stock traded up by only $0.80 during trading on Friday, reaching a value of $145.75 per share, with a trading volume of 44,511 shares compared to its average volume of 893,009 shares.
The company boasts a market capitalization of $14.87 billion with a PE ratio of -155.86 and a P/E/G ratio of 2.87 SSBL/p>Looking at its key indicators, it is worth noting that J.M.Smucker has experienced some fluctuations in recent months.
It maintains a 50-day moving average of $147.61 and a 200-day moving average of $150.61 while having posted its quarterly earnings results for August 29th.
During this time, J.M.Smucker reported earnings per share (EPS) of $2.21 for the quarter, surpassing the consensus estimate of $2.02 by an impressive margin of $0.19.
However, despite beating expectations on earnings, its revenue for the quarter stood at $1.81 billion instead of analysts’ predictions which were at around $$1.84 billion.
Furthermore, J.M.Smucker’s net margin remained negatively affected at -1.07%, but it did manage to achieve a positive return on equity of 11.89%. However, the company also saw a decline in its quarterly revenue of 3.6% compared to the same period last year when it posted $1.67 earnings per share.
Analysts are forecasting that The J.M.Smucker Company will post earnings per share of around $9.53 for the current year, reflecting the confidence analysts have in the company’s future performance.
As investors and analysts continue to monitor J.M.Smucker’s progress, it remains unclear what lies ahead for this consumer goods company. However, with the ongoing interest from hedge funds and institutional investors alongside recent positive earnings results, there is certainly potential for growth in the future.
