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J M Smucker Co (SJM): Are Hedge Funds Right To Get Far Away From This Stock?

Seeing as J M Smucker Co (NYSE:SJM) has experienced a decline in interest from hedge fund managers, it’s safe to say that there is a sect of fund managers that elected to cut their entire stakes last quarter. It’s worth mentioning that Principal Global Investors’ Columbus Circle Investors dropped the biggest position of the 700 funds watched by Insider Monkey, worth about $14.3 million in stock. Ricky Sandler’s fund, Eminence Capital, also sold off its stock, about $10.6 million worth. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest dropped by 5 funds last quarter.

Let’s also examine hedge fund activity in other stocks similar to J M Smucker Co (NYSE:SJM). These stocks are Sasol Limited (ADR) (NYSE:SSL), Tata Motors Limited (ADR) (NYSE:TTM), Amphenol Corporation (NYSE:APH), and Republic Services, Inc. (NYSE:RSG). This group of stocks’ market values match SJM’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
SSL 9 23488 -2
TTM 22 844281 10
APH 21 322812 2
RSG 21 485314 -4

As you can see these stocks had an average of 18.25 hedge funds with bullish positions and the average amount invested in these stocks was $419 million. That figure was $411 million in SJM’s case. Tata Motors Limited (ADR) (NYSE:TTM) is the most popular stock in this table. On the other hand Sasol Limited (ADR) (NYSE:SSL) is the least popular one with only 9 bullish hedge fund positions. Compared to these stocks J M Smucker Co (NYSE:SJM) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio, being cautious of the recent selling of it.

Disclosure: None

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