Conagra Brands sells Wesson brand for $285M to Smucker

Xavier Trudeau
Mai 31, 2017

Its up 0.11, from 1 in 2016Q3. It improved, as 54 investors sold J M Smucker Co shares while 219 reduced holdings.

The sale is reflective of Conagra's transformation under CEO Sean Connolly, who was hired in 2015 before a NY hedge fund claimed a large stake in the company and began pushing for changes that would raise the company's share price. Financial Bank Of Stockton owns 4,875 shares for 0.3% of their portfolio.

Greenwood Gearhart, a Arkansas-based fund reported 39,455 shares. Foster Motley holds 0.31% or 12,595 shares in its portfolio. Guardian Life Insur Of America invested in 0.01% or 443 shares. Ftb Advsr accumulated 425 shares.

Apg Asset Management Nv increased Moodys Corp (NYSE:MCO) stake by 725,354 shares to 1.40 million valued at $125.46 million in 2016Q4. 5,000 were reported by Kj Harrison And Ptnrs. Hartford Mgmt has 0.11% invested in J M Smucker Co (NYSE:SJM). Strs Ohio accumulated 4,300 shares or 0% of the stock. J M Smucker earned a media sentiment score of 0.33 on AlphaOne's scale. State Of New Jersey Common Pension Fund D holds 0.04% of its portfolio in J M Smucker Co (NYSE:SJM) for 64,556 shares. Orleans Management La holds 0.93% or 10,163 shares.

Since February 24, 2017, it had 1 insider buy, and 1 insider sale for $301,725 activity.

Conagra and Smucker announced the Wesson deal Tuesday.

02/23/2017 - J.M. Smucker Company (The) had its "hold" rating reiterated by analysts at Jefferies. 413914 shares were traded on J.M. Smucker Company (The)'s last session. Zacks Investment Research upgraded shares of J M Smucker from a "sell" rating to a "hold" rating in a report on Monday, February 27th. Therefore 14% are positive. Trevena Inc had 15 analyst reports since August 3, 2015 according to SRatingsIntel. $133's average target is 3.77% above currents $128.17 stock price. J. M. Smucker Company had 35 analyst reports since August 19, 2015 according to SRatingsIntel. The stock has "Buy" rating by Deutsche Bank on Friday, June 3. The stock has "Underperform" rating by Bernstein on Tuesday, March 21. The rating was downgraded by Credit Suisse on Tuesday, September 27 to "Neutral". The firm has "Buy" rating given on Tuesday, December 22 by Bank of America. The rating was initiated by Susquehanna on Monday, October 26 with "Neutral".

02/15/2017 - Deutsche Bank began new coverage on J.M. Smucker Company (The) giving the company a "hold" rating. The firm has "Outperform" rating given on Wednesday, August 19 by Credit Suisse. About 60,905 shares traded.

Apg Asset Management Nv decreased Smucker J M Co (SJM) stake by 34.26% reported in 2016Q4 SEC filing. It has underperformed by 17.54% the S&P500.

Smucker said it expects to fund the transaction largely with debt and sees the deal adding around $0.10 per share to its adjusted earnings during the first full year after closing, excluding one-time costs.The $285 million purchase price represented a multiple of about 9.5 times EBITDA, the companies said. SJM's profit will be $201.66 million for 18.52 P/E if the $1.73 EPS becomes a reality.

Conagra Brands, based in Omaha until previous year, said Tuesday that it plans to sell its Wesson Oil unit to J.M. Smucker for $285 million. The J.M. Smucker Co. now has $14.87 billion valuation. The Company's US retail market segments consist of the sale of branded food products to consumers through retail outlets in North America.

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