Janney Montgomery Scott LLC has significantly increased its position in The J. M. Smucker Company (NYSE:SJM) during the first quarter, according to the firm’s latest Form 13F filing with the Securities and Exchange Commission. The fund acquired an additional 66,433 shares, resulting in a growth of 335.8% and bringing their total stake in the company to 86,216 shares. At the end of this reporting period, Janney Montgomery Scott LLC owned approximately 0.08% of J.M Smucker, which was valued at $13,568,000.
The J.M Smucker Company reported its latest quarterly earnings results on June 6th. The company exceeded market expectations by posting earnings per share (EPS) of $2.64 for the quarter; a notable difference from the consensus estimate of $2.41 EPS; representing a positive deviation of $0.23 EPS.
Furthermore, despite having a negative net margin of -1.07%, J.M Smucker managed to achieve a positive return on equity (ROE) of 11.89%. In terms of revenue generation, J.M Smucker reported $2.23 billion during the quarter, surpassing analyst estimates that projected revenue at $2.17 billion for the same quarter.
Compared to the previous year’s figures, J.M Smucker’s revenue grew by an astounding 9.8% on a year-over-year basis; indicating strong performance and growth in key areas of operation.
Equities research analysts have recently shared their insights regarding SJM shares’ performance as well as their outlook for potential investors’ consideration. StockNews.com initiated coverage on J.M Smucker by issuing a “hold” rating for the company in a research report published on May 18th.
Bank of America also weighed in on SJM shares and raised their price objective accordingly from $168 to $170 in another research report released on June 7th. On the other hand, Deutsche Bank Aktiengesellschaft lowered their price objective from $158 to $152 in a research report published on June 12th.
58.com reiterated their “maintains” rating on J.M Smucker shares in a research report dated June 8th. Lastly, TheStreet downgraded J.M Smucker from an “a-” rating to a “c+” rating in another report published on June 6th.
Overall, Bloomberg states that the consensus among analysts for J.M Smucker is currently rated as a “Hold,” with the company having a consensus price target of approximately $154.42. It is important to note that while there are varying ratings and opinions, this provides potential investors with valuable insights into the market sentiment surrounding J.M Smucker.
As we continue into the year, it will be interesting to observe how J.M Smucker performs and if they can sustain their growth trajectory amidst evolving market conditions. Investors should take into account these various perspectives when making decisions regarding their investment portfolios.
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Institutional Investors Increase Holdings of J.M. Smucker, Stock Opens at $149.69
Institutional Investors Increase Holdings of J.M. Smucker, Stock Opens at $149.69
July 20, 2023 – Several institutional investors have made significant modifications to their holdings of J.M. Smucker, a leading food and beverage company. Vanguard Group Inc., for instance, has raised its stake in shares of the company by 1.3% in the first quarter of this year. This increase has resulted in Vanguard Group owning 12,721,847 shares of J.M. Smucker stock with a value of $1,722,666,000 after acquiring an additional 162,944 shares during the last quarter.
Sequoia Financial Advisors LLC also saw a substantial rise in its position in J.M. Smucker by an astonishing 48,822.8% during the fourth quarter of last year. As a result, it now owns an impressive 2,281,761 shares of the company’s stock worth $361,568,000.
Additionally, Geode Capital Management LLC increased its position in J.M. Smucker by 2.1% during the same period and now holds 2,253,122 shares valued at $356,401,000 after purchasing an extra 45,838 shares.
Moneta Group Investment Advisors LLC demonstrated similar growth with an astonishing increase of 85,116.7% during the fourth quarter to own a total of 2,102,297 shares worth $333,1300 million.
Lastly – among these other institutional investors – Invesco Ltd witnessed a modest rise in its position with an increase of 8.3% during the first quarter. Invesco Ltd now owns approximately 1 ,820 ,578 shares valued at $246 ,525 ,000 after acquiring an additional 139 ,158 shares over this period.
It is important to note that these aforementioned institutional investors collectively account for about three-quarters (75 .58% ) of the company’s stock.
Shares of J.M. Smucker (NYSE: SJM) opened at $149.69 today. Over the past 12 months, the stock has ranged from a low of $125 .82 to a high of $163 .07. With a market capitalization of about $15.28 billion, the company currently boasts a price-to-earnings ratio of -160 .96, indicating some degree of unprofitability during the period analyzed. Furthermore, its price-to-earnings-growth ratio stands at 3 .07 , suggesting that investors may anticipate growth in earnings over time. As for beta, which measures the stock’s sensitivity to market movements, it is relatively low at 0 .22 , indicating limited volatility compared to the overall market.
Additionally , J.M. Smucker exhibits strong liquidity with a quick ratio of 0 .93 and current ratio of 1 .44 . Both ratios indicate that the company is able to meet short-term financial obligations effectively.
The company also holds a debt-to-equity ratio of 0 .59 , indicating moderate leverage in its balance sheet.
From a technical standpoint, J.M. Smucker’s shares have been trading around their fifty-day moving average of $150 .12 and two hundred-day moving average of $151 .92 .
Several research analysts have recently offered their perspectives on J.M. Smucker’s stock performance. StockNews.com initiated coverage with a “hold” rating back in May this year while Bank of America boosted its price objective from $168 to $170 in early June. On the other hand, Deutsche Bank Aktiengesellschaft reduced its price objective from $158 to $152 later that month.
Interestingly, TheStreet downgraded J.M. Smucker’s rating from “a-” to “c+” on June 6th reflecting potential concerns or negative developments regarding company operations.
Thus far, three research analysts have placed a sell rating on the stock, while eight have assigned a hold rating and two have issued a buy rating. According to Bloomberg, the consensus among analysts is currently a “hold,” with an average price target of $154 .42.
Finally, on July 20th J.M. Smucker announced its quarterly dividend that would be paid on Friday, September 1st. Shareholders of record as of August 18th would receive a $1.06 dividend, reflecting an increase from the previous quarterly dividend of $1.02. The improved payout represents an annualized dividend of $4.24 and translates to a yield of about 2 .83 % based on the stock’s current price.
In light of recent transactions involving company insiders, it is worth noting that COO John P . Brase sold 10 ,000 shares on June 8th for an average share price of $148 .86 . Following this sale , the executive now directly owns approximately 15 ,780 shares valued at around $2 ,349 ,010 .
Furthermore, insider Jill R . Penrose sold 3 ,009 shares on June 16th at an average price of $153 .65 per share. As a result, she now holds about 6
