Sumitomo Mitsui DS Asset Management Company Ltd Decreases Stake in The J. M. Smucker Company (NYSE:SJM)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its stake in The J. M. Smucker Company (NYSE:SJM) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,883 shares of the company’s stock after selling 152 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in J. M. Smucker were worth $1,502,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Signaturefd LLC lifted its stake in J. M. Smucker by 18.8% during the fourth quarter. Signaturefd LLC now owns 3,606 shares of the company’s stock worth $456,000 after purchasing an additional 571 shares during the last quarter. Lindbrook Capital LLC lifted its stake in J. M. Smucker by 77.1% during the fourth quarter. Lindbrook Capital LLC now owns 409 shares of the company’s stock worth $52,000 after purchasing an additional 178 shares during the last quarter. abrdn plc lifted its stake in J. M. Smucker by 67.2% during the fourth quarter. abrdn plc now owns 44,808 shares of the company’s stock worth $5,663,000 after purchasing an additional 18,016 shares during the last quarter. Hunter Associates Investment Management LLC lifted its stake in J. M. Smucker by 50.0% during the fourth quarter. Hunter Associates Investment Management LLC now owns 12,290 shares of the company’s stock worth $1,548,000 after purchasing an additional 4,094 shares during the last quarter. Finally, J.W. Cole Advisors Inc. lifted its stake in J. M. Smucker by 242.0% during the fourth quarter. J.W. Cole Advisors Inc. now owns 6,081 shares of the company’s stock worth $769,000 after purchasing an additional 4,303 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Trading Up 0.7 %

Shares of SJM stock opened at $118.55 on Thursday. The business’s fifty day moving average price is $120.63 and its 200 day moving average price is $120.68. The J. M. Smucker Company has a 1-year low of $107.33 and a 1-year high of $159.92. The firm has a market capitalization of $12.59 billion, a PE ratio of -134.71, a P/E/G ratio of 1.88 and a beta of 0.21. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.78 and a quick ratio of 0.38.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.21. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.22 billion. J. M. Smucker had a positive return on equity of 14.29% and a negative net margin of 1.24%. J. M. Smucker’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.21 earnings per share. As a group, sell-side analysts forecast that The J. M. Smucker Company will post 9.6 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be given a dividend of $1.06 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $4.24 dividend on an annualized basis and a yield of 3.58%. J. M. Smucker’s payout ratio is -481.81%.

Insiders Place Their Bets

In other J. M. Smucker news, insider Jeannette L. Knudsen sold 3,200 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $124.77, for a total transaction of $399,264.00. Following the sale, the insider now directly owns 8,946 shares in the company, valued at $1,116,192.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. DA Davidson started coverage on J. M. Smucker in a research note on Friday, March 1st. They set a “neutral” rating and a $132.00 target price for the company. Barclays boosted their price objective on J. M. Smucker from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. TD Cowen reduced their price objective on J. M. Smucker from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. boosted their price objective on J. M. Smucker from $126.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $137.47.

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.