Saturna Capital Corp Lowers stake in J M Smucker Co (SJM)

J M Smucker Co (SJM) : Saturna Capital Corp reduced its stake in J M Smucker Co by 19.57% during the most recent quarter end. The investment management company now holds a total of 185,000 shares of J M Smucker Co which is valued at $28,279,100 after selling 45,000 shares in J M Smucker Co , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.J M Smucker Co makes up approximately 0.87% of Saturna Capital Corp’s portfolio.

Other Hedge Funds, Including , Forsta Ap-fonden added SJM to its portfolio by purchasing 132,978 company shares during the most recent quarter which is valued at $20,327,017. J M Smucker Co makes up approx 0.57% of Forsta Ap-fonden’s portfolio. Cookson Peirce Co Inc added SJM to its portfolio by purchasing 1,390 company shares during the most recent quarter which is valued at $212,350. J M Smucker Co makes up approx 0.03% of Cookson Peirce Co Inc’s portfolio.Sumitomo Life Insurance Co reduced its stake in SJM by selling 271 shares or 3.68% in the most recent quarter. The Hedge Fund company now holds 7,097 shares of SJM which is valued at $1,083,996. J M Smucker Co makes up approx 0.14% of Sumitomo Life Insurance Co’s portfolio.Investment Partners Ltd Oh Adv boosted its stake in SJM in the latest quarter, The investment management firm added 375 additional shares and now holds a total of 5,086 shares of J M Smucker Co which is valued at $776,530. J M Smucker Co makes up approx 0.76% of Investment Partners Ltd Oh Adv’s portfolio.

J M Smucker Co closed down -0.77 points or -0.50% at $152.06 with 9,20,432 shares getting traded on Monday. Post opening the session at $152.34, the shares hit an intraday low of $151.37 and an intraday high of $152.96 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, J M Smucker Co reported $1.19 EPS for the quarter, based on the information available during the earnings call on Jun 9, 2016. Analyst had a consensus estimate of $1.19. The company had revenue of $1808.00 million for the quarter, compared to analysts expectations of $1745.44 million. The company’s revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS.

Many Wall Street Analysts have commented on J M Smucker Co. J M Smucker Co was Downgraded by Jefferies to ” Hold” on Jun 10, 2016. Company shares were Reiterated by Deutsche Bank on Jun 10, 2016 to “Buy”, Firm has raised the Price Target to $ 152 from a previous price target of $143 .Company shares were Reiterated by Deutsche Bank on Jun 3, 2016 to “Buy”, Firm has raised the Price Target to $ 143 from a previous price target of $137 .

The J. M. Smucker Company is a manufacturer and marketer of consumer food and beverage products and pet food and pet snacks in North America. The Company has four segments: U.S. Retail Coffee U.S. Retail Consumer Foods U.S. Retail Pet Foods and International Foodservice and Natural Foods. The Company’s U.S. retail market segments consist of the sale of branded food products to consumers through retail outlets in North America. The Company’s International Foodservice and Natural Foods segment represents sales outside of the U.S. retail market segments. The Company’s principal consumer food and beverage products are coffee peanut butter fruit spreads shortening and oils baking mixes and ready-to-spread frostings canned milk flour and baking ingredients juices and beverages frozen sandwiches toppings syrups pickles condiments grain products and nut mix products. The Company’s pet products consist of dry and wet dog food dry and wet cat food dog snacks and cat snacks.

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