Truepoint Lowers stake in J M Smucker Co (SJM)

J M Smucker Co (SJM) : Truepoint reduced its stake in J M Smucker Co by 3.6% during the most recent quarter end. The investment management company now holds a total of 4,150 shares of J M Smucker Co which is valued at $541,866 after selling 155 shares in J M Smucker Co , the firm said in a disclosure report filed with the SEC on May 11, 2016.J M Smucker Co makes up approximately 0.07% of Truepoint’s portfolio.

Other Hedge Funds, Including , Mycio Wealth Partners boosted its stake in SJM in the latest quarter, The investment management firm added 48 additional shares and now holds a total of 52 shares of J M Smucker Co which is valued at $6,790. Princeton Alpha Management Lp sold out all of its stake in SJM during the most recent quarter. The investment firm sold 5,438 shares of SJM which is valued $702,970.Scout Investments boosted its stake in SJM in the latest quarter, The investment management firm added 45,766 additional shares and now holds a total of 233,775 shares of J M Smucker Co which is valued at $30.2 Million. J M Smucker Co makes up approx 0.82% of Scout Investments’s portfolio.Evercore Wealth Management reduced its stake in SJM by selling 774 shares or 15.28% in the most recent quarter. The Hedge Fund company now holds 4,291 shares of SJM which is valued at $554,698. J M Smucker Co makes up approx 0.02% of Evercore Wealth Management’s portfolio.

J M Smucker Co opened for trading at $130.18 and hit $131.22 on the upside on Monday, eventually ending the session at $130.83, with a gain of 0.20% or 0.26 points. The heightened volatility saw the trading volume jump to 3,73,850 shares. Company has a market cap of $15,658 M.

On the company’s financial health, J M Smucker Co reported $1.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Feb 23, 2016. Analyst had a consensus of $1.64. The company had revenue of $1973.90 million for the quarter, compared to analysts expectations of $2042.75 million. The company’s revenue was up 37.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS.

Many Wall Street Analysts have commented on J M Smucker Co. J M Smucker Co was Downgraded by Goldman to ” Sell” on Apr 4, 2016.

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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