The J. M. Smucker Company (NYSE:SJM) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 21.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,090 shares of the company's stock after selling 6,158 shares during the quarter. Truist Financial Corp's holdings in J. M. Smucker were worth $2,518,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Boston Partners acquired a new stake in J. M. Smucker during the 1st quarter valued at approximately $364,990,000. Bank of Montreal Can raised its holdings in J. M. Smucker by 186.3% in the second quarter. Bank of Montreal Can now owns 805,029 shares of the company's stock valued at $90,195,000 after acquiring an additional 523,803 shares in the last quarter. Vanguard Group Inc. boosted its stake in J. M. Smucker by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company's stock valued at $1,702,515,000 after acquiring an additional 518,433 shares during the last quarter. Ariel Investments LLC grew its holdings in J. M. Smucker by 56.0% during the 2nd quarter. Ariel Investments LLC now owns 1,354,999 shares of the company's stock worth $147,749,000 after acquiring an additional 486,624 shares in the last quarter. Finally, Ilex Capital Partners UK LLP bought a new stake in shares of J. M. Smucker in the 1st quarter worth about $48,207,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Stock Performance

SJM traded down $0.19 during trading hours on Friday, hitting $116.84. The company's stock had a trading volume of 606,383 shares, compared to its average volume of 1,184,828. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $134.62. The company has a 50-day simple moving average of $119.05 and a 200 day simple moving average of $115.84. The firm has a market capitalization of $12.43 billion, a PE ratio of 16.55, a PEG ratio of 3.10 and a beta of 0.24.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.17 by $0.27. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. J. M. Smucker's revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.21 EPS. As a group, sell-side analysts expect that The J. M. Smucker Company will post 9.82 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. BNP Paribas raised shares of J. M. Smucker to a "strong sell" rating in a research report on Thursday, August 29th. StockNews.com upgraded J. M. Smucker from a "sell" rating to a "hold" rating in a report on Monday, September 30th. Argus decreased their price objective on shares of J. M. Smucker from $150.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, June 13th. Bank of America dropped their target price on shares of J. M. Smucker from $130.00 to $122.00 and set a "neutral" rating on the stock in a report on Thursday, August 29th. Finally, Wells Fargo & Company decreased their price target on shares of J. M. Smucker from $140.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $127.25.

J. M. Smucker Profile

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.