The J. M. Smucker Company (NYSE:SJM) Stake Lifted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of The J. M. Smucker Company (NYSE:SJM) by 22.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 22,090 shares of the company’s stock after buying an additional 4,018 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in J. M. Smucker were worth $2,570,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of J. M. Smucker during the 4th quarter valued at $27,000. Minot DeBlois Advisors LLC acquired a new position in J. M. Smucker during the fourth quarter worth about $28,000. Measured Risk Portfolios Inc. bought a new stake in J. M. Smucker in the fourth quarter worth about $29,000. Menard Financial Group LLC acquired a new stake in J. M. Smucker in the 4th quarter valued at about $46,000. Finally, Sandy Spring Bank lifted its holdings in J. M. Smucker by 1,365.5% in the 4th quarter. Sandy Spring Bank now owns 425 shares of the company’s stock valued at $47,000 after acquiring an additional 396 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

J. M. Smucker Trading Up 1.8%

NYSE:SJM opened at $104.79 on Thursday. The stock has a market cap of $11.16 billion, a PE ratio of -9.06, a price-to-earnings-growth ratio of 7.87 and a beta of 0.31. The J. M. Smucker Company has a fifty-two week low of $93.30 and a fifty-two week high of $125.42. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.35. The stock’s 50-day moving average is $107.55 and its two-hundred day moving average is $109.01.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.06. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.18 billion. J. M. Smucker had a negative net margin of 14.10% and a positive return on equity of 15.20%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.66 earnings per share. As a group, equities research analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Friday, May 16th. J. M. Smucker’s dividend payout ratio is currently -37.37%.

Insider Buying and Selling at J. M. Smucker

In other news, Director Tarang Amin acquired 1,050 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The stock was acquired at an average cost of $96.09 per share, for a total transaction of $100,894.50. Following the completion of the acquisition, the director owned 3,825 shares in the company, valued at approximately $367,544.25. The trade was a 37.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SJM. DA Davidson lowered their price objective on shares of J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Bank of America cut their price objective on J. M. Smucker from $118.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, June 11th. Stifel Nicolaus cut their target price on J. M. Smucker from $120.00 to $106.00 and set a “hold” rating on the stock in a research report on Wednesday, June 11th. Barclays reduced their target price on J. M. Smucker from $119.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, June 11th. Finally, UBS Group dropped their price target on J. M. Smucker from $134.00 to $129.00 and set a “buy” rating on the stock in a research note on Friday, June 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, J. M. Smucker currently has an average rating of “Hold” and an average target price of $115.80.

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.