New York Life Trust Co Lowers stake in J M Smucker Co (SJM)

J M Smucker Co (SJM) : New York Life Trust Co reduced its stake in J M Smucker Co by 18.37% during the most recent quarter end. The investment management company now holds a total of 742 shares of J M Smucker Co which is valued at $113,400 after selling 167 shares in J M Smucker Co , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.J M Smucker Co makes up approximately 0.53% of New York Life Trust Co’s portfolio.

Other Hedge Funds, Including , Susquehanna International Group Llp reduced its stake in SJM by selling 2,048 shares or 24.53% in the most recent quarter. The Hedge Fund company now holds 6,300 shares of SJM which is valued at $962,829. J M Smucker Co makes up approx 0.01% of Susquehanna International Group Llp’s portfolio.Pictet Asset Management Ltd reduced its stake in SJM by selling 19,500 shares or 21.61% in the most recent quarter. The Hedge Fund company now holds 70,742 shares of SJM which is valued at $10,811,500. J M Smucker Co makes up approx 0.04% of Pictet Asset Management Ltd’s portfolio.Bessemer Group Inc reduced its stake in SJM by selling 75,696 shares or 10.83% in the most recent quarter. The Hedge Fund company now holds 623,537 shares of SJM which is valued at $95,295,160. J M Smucker Co makes up approx 0.51% of Bessemer Group Inc’s portfolio. Wespac Advisors sold out all of its stake in SJM during the most recent quarter. The investment firm sold 5,326 shares of SJM which is valued $808,167.Hartford Investment Management Co boosted its stake in SJM in the latest quarter, The investment management firm added 3,140 additional shares and now holds a total of 38,507 shares of J M Smucker Co which is valued at $5,890,416. J M Smucker Co makes up approx 0.12% of Hartford Investment Management Co’s portfolio.

J M Smucker Co closed down -1.13 points or -0.80% at $140.66 with 11,40,153 shares getting traded on Thursday. Post opening the session at $141.23, the shares hit an intraday low of $140.055 and an intraday high of $141.72 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, J M Smucker Co reported $1.86 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Aug 23, 2016. Analyst had a consensus of $1.74. The company had revenue of $1815.80 million for the quarter, compared to analysts expectations of $1887.56 million. The company’s revenue was down -7.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.32 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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