Sumitomo Mitsui Trust Group Inc. Buys 3,934 Shares of The J. M. Smucker Company (NYSE:SJM)

Sumitomo Mitsui Trust Group Inc. raised its stake in The J. M. Smucker Company (NYSE:SJM) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 313,042 shares of the company’s stock after buying an additional 3,934 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.29% of J. M. Smucker worth $37,909,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SJM. 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 purchasing an additional 157,523 shares during the period. Cetera Investment Advisers lifted its holdings in J. M. Smucker by 62.0% in the first quarter. Cetera Investment Advisers now owns 24,174 shares of the company’s stock valued at $3,043,000 after buying an additional 9,250 shares during the period. Swedbank AB boosted its position in J. M. Smucker by 14.1% during the second quarter. Swedbank AB now owns 127,618 shares of the company’s stock valued at $13,915,000 after acquiring an additional 15,792 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of 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 acquiring an additional 11,622 shares in the last quarter. Finally, UniSuper Management Pty Ltd raised its position in shares of J. M. Smucker by 553.9% in the 1st quarter. UniSuper Management Pty Ltd now owns 8,874 shares of the company’s stock worth $1,117,000 after acquiring an additional 7,517 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

Shares of SJM opened at $106.92 on Friday. The J. M. Smucker Company has a 52 week low of $105.69 and a 52 week high of $134.62. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55. The stock has a 50 day moving average price of $117.25 and a two-hundred day moving average price of $115.56. The firm has a market capitalization of $11.38 billion, a P/E ratio of 15.12, a P/E/G ratio of 3.17 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.27. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. J. M. Smucker’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.21 EPS. Equities analysts forecast that The J. M. Smucker Company will post 9.8 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s payout ratio is 61.10%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wells Fargo & Company decreased their target price on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Bank of America lowered their price objective on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. TD Cowen cut their target price on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Stifel Nicolaus downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price target for the company from $135.00 to $125.00 in a research note on Friday, October 25th. Finally, BNP Paribas upgraded shares of J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $127.09.

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.