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

Mirae Asset Global Investments Co. Ltd. raised its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 22.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 22,090 shares of the company's stock after purchasing an additional 4,018 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in J. M. Smucker were worth $2,570,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in J. M. Smucker by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 13,344,933 shares of the company's stock valued at $1,469,544,000 after buying an additional 130,533 shares during the period. FMR LLC raised its position in shares of J. M. Smucker by 11.3% in the 4th quarter. FMR LLC now owns 3,734,305 shares of the company's stock worth $411,222,000 after acquiring an additional 380,309 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of J. M. Smucker by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 2,609,952 shares of the company's stock valued at $286,664,000 after purchasing an additional 58,231 shares during the period. Invesco Ltd. boosted its position in shares of J. M. Smucker by 21.0% during the 4th quarter. Invesco Ltd. now owns 2,415,023 shares of the company's stock valued at $265,942,000 after purchasing an additional 418,878 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in J. M. Smucker by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,009,017 shares of the company's stock worth $221,232,000 after purchasing an additional 33,758 shares during the period. 81.66% of the stock is owned by institutional investors.

J. M. Smucker Stock Down 1.0%

Shares of J. M. Smucker stock traded down $1.01 during trading hours on Friday, reaching $103.82. The company's stock had a trading volume of 1,095,162 shares, compared to its average volume of 1,292,105. The company has a market capitalization of $11.06 billion, a P/E ratio of -8.98, a P/E/G ratio of 7.84 and a beta of 0.31. The stock's fifty day simple moving average is $107.09 and its two-hundred day simple moving average is $108.88. The J. M. Smucker Company has a one year low of $93.30 and a one year high of $125.42. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.35 and a current ratio of 0.81.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.06. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations 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 for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.66 EPS. On average, research analysts forecast 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 issued a dividend of $1.08 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.32 annualized dividend and a yield of 4.16%. J. M. Smucker's dividend payout ratio (DPR) is currently -37.37%.

Insider Buying and Selling

In other news, Director Tarang Amin acquired 1,050 shares of the business's stock in a transaction on Thursday, June 12th. The shares were purchased at an average cost of $96.09 per share, with a total value of $100,894.50. Following the acquisition, the director directly owned 3,825 shares of the company's stock, valued at $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. Insiders own 3.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SJM shares. DA Davidson dropped their price target on 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. Wall Street Zen raised shares of J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Friday, March 28th. Stifel Nicolaus dropped 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 research report on Wednesday, June 11th. Jefferies Financial Group raised shares of J. M. Smucker from a "hold" rating to a "buy" rating and cut their target price for the stock from $118.00 to $115.00 in a research note on Wednesday, June 11th. Finally, Bank of America decreased their price target on shares of J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus 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.