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

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 34.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 15,237 shares of the company's stock after buying an additional 3,897 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in J. M. Smucker were worth $1,804,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Clear Creek Financial Management LLC bought a new position in shares of J. M. Smucker during the 1st quarter valued at about $239,000. Vontobel Holding Ltd. increased its holdings in shares of J. M. Smucker by 12.5% in the first quarter. Vontobel Holding Ltd. now owns 71,396 shares of the company's stock worth $8,454,000 after purchasing an additional 7,947 shares during the last quarter. Kennon Green & Company LLC purchased a new stake in shares of J. M. Smucker in the first quarter worth about $216,000. New York State Teachers Retirement System lifted its position in shares of J. M. Smucker by 1.7% in the first quarter. New York State Teachers Retirement System now owns 84,064 shares of the company's stock worth $9,954,000 after buying an additional 1,403 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in J. M. Smucker by 1.5% during the first quarter. Amalgamated Bank now owns 20,714 shares of the company's stock valued at $2,453,000 after buying an additional 299 shares during the last quarter. Institutional investors own 81.66% of the company's stock.

J. M. Smucker Trading Down 1.0%

NYSE:SJM traded down $1.01 during mid-day trading on Friday, hitting $103.82. 1,095,162 shares of the stock traded hands, compared to its average volume of 1,292,105. The company has a quick ratio of 0.35, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The J. M. Smucker Company has a 52 week low of $93.30 and a 52 week high of $125.42. The stock has a market capitalization of $11.06 billion, a price-to-earnings ratio of -8.98, a PEG ratio of 7.84 and a beta of 0.31. The firm's 50 day moving average is $107.09 and its two-hundred day moving average is $108.88.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.06. J. M. Smucker had a positive return on equity of 15.20% and a negative net margin of 14.10%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the business earned $2.66 earnings per share. The company's revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities research analysts predict that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 4.16%. The ex-dividend date was Friday, May 16th. J. M. Smucker's dividend payout ratio is presently -37.37%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SJM. Jefferies Financial Group raised J. M. Smucker from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $118.00 to $115.00 in a report on Wednesday, June 11th. Morgan Stanley reiterated an "overweight" rating and set a $124.00 price objective (up previously from $123.00) on shares of J. M. Smucker in a research report on Friday, June 6th. Wells Fargo & Company dropped their price objective on shares of J. M. Smucker from $135.00 to $115.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Stifel Nicolaus reduced their target price on shares of J. M. Smucker from $120.00 to $106.00 and set a "hold" rating on the stock in a report on Wednesday, June 11th. Finally, Wall Street Zen raised shares of J. M. Smucker from a "sell" rating to a "hold" rating in a report on Friday, March 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $115.80.

Insider Buying and Selling at J. M. Smucker

In other news, Director Tarang Amin acquired 1,050 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The shares were bought at an average price of $96.09 per share, with a total value of $100,894.50. Following the completion of the purchase, the director directly owned 3,825 shares in the company, valued at $367,544.25. This trade represents a 37.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.40% of the company's stock.

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.