Mirae Asset Global Investments Co. Ltd. Boosts Holdings in The J. M. Smucker Company (NYSE:SJM)

Mirae Asset Global Investments Co. Ltd. grew its position in The J. M. Smucker Company (NYSE:SJM) by 29.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,805 shares of the company’s stock after purchasing an additional 2,934 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in J. M. Smucker were worth $1,551,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Assenagon Asset Management S.A. increased its position in J. M. Smucker by 6,703.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 159,873 shares of the company’s stock valued at $17,433,000 after buying an additional 157,523 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of J. M. Smucker by 62.0% during the first quarter. Cetera Investment Advisers now owns 24,174 shares of the company’s stock valued at $3,043,000 after acquiring an additional 9,250 shares in the last quarter. Swedbank AB raised its position in shares of J. M. Smucker by 14.1% in the 2nd quarter. Swedbank AB now owns 127,618 shares of the company’s stock valued at $13,915,000 after purchasing an additional 15,792 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in J. M. Smucker by 25.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 56,816 shares of the company’s stock worth $7,151,000 after purchasing an additional 11,622 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its position in J. M. Smucker by 553.9% during the 1st quarter. UniSuper Management Pty Ltd now owns 8,874 shares of the company’s stock worth $1,117,000 after purchasing an additional 7,517 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Stifel Nicolaus cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price target for the stock from $135.00 to $125.00 in a report on Friday, October 25th. StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. TD Cowen cut their price objective on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Citigroup reduced their price objective on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Barclays dropped their target price on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $126.42.

J. M. Smucker Price Performance

NYSE:SJM opened at $113.51 on Friday. The company has a 50 day moving average price of $118.58 and a 200-day moving average price of $115.64. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62. The firm has a market cap of $12.08 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 3.32 and a beta of 0.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm posted $2.21 earnings per share. The company’s revenue was up 17.7% compared to the same quarter last year. Equities research analysts forecast that The J. M. Smucker Company will post 9.81 EPS for the current year.

J. M. Smucker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s payout ratio is 61.10%.

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.