The J. M. Smucker Company (NYSE:SJM) Shares Sold by Mizuho Markets Americas LLC

Key Points

• Mizuho Markets Americas LLC reduced its holdings in J. M. Smucker Company by 49%, owning 11,714 shares after selling 11,235 shares in the first quarter.
• Several institutional investors, including Citigroup and Deutsche Bank, have increased their positions in J. M. Smucker, with Deutsche Bank boosting its holdings by 8.6% during the same period.
• J. M. Smucker recently raised its quarterly dividend from $1.08 to $1.10 per share, resulting in a dividend yield of 4.0%.

Mizuho Markets Americas LLC trimmed its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 49.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,714 shares of the company's stock after selling 11,235 shares during the period. Mizuho Markets Americas LLC's holdings in J. M. Smucker were worth $1,387,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SJM. Citigroup Inc. boosted its position in J. M. Smucker by 44.4% during the 1st quarter. Citigroup Inc. now owns 156,022 shares of the company's stock worth $18,475,000 after purchasing an additional 48,005 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in J. M. Smucker by 9.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,214 shares of the company's stock worth $27,496,000 after purchasing an additional 20,483 shares during the period. Y.D. More Investments Ltd boosted its position in J. M. Smucker by 14.5% during the 1st quarter. Y.D. More Investments Ltd now owns 1,017 shares of the company's stock worth $120,000 after purchasing an additional 129 shares during the period. Deutsche Bank AG boosted its position in J. M. Smucker by 8.6% during the 1st quarter. Deutsche Bank AG now owns 1,213,312 shares of the company's stock worth $143,668,000 after purchasing an additional 96,508 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in J. M. Smucker by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,017,805 shares of the company's stock worth $120,518,000 after purchasing an additional 14,763 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SJM has been the subject of a number of research reports. Royal Bank Of Canada initiated coverage on shares of J. M. Smucker in a research report on Monday, July 7th. They set an "outperform" rating and a $130.00 price target for the company. 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 report on Wednesday, June 11th. BNP Paribas raised shares of J. M. Smucker from a "strong sell" rating to a "strong-buy" rating in a research report on Wednesday, July 9th. Morgan Stanley reissued an "overweight" rating and issued a $124.00 price objective (up from $123.00) on shares of J. M. Smucker in a research report on Friday, June 6th. Finally, UBS Group decreased their price objective on shares of J. M. Smucker from $134.00 to $129.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, J. M. Smucker has an average rating of "Moderate Buy" and an average price target of $117.67.

Insider Activity at J. M. Smucker

In other J. M. Smucker 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 purchased at an average price of $96.09 per share, for a total transaction 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. The trade was a 37.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.24% of the company's stock.

J. M. Smucker Stock Performance

Shares of SJM stock opened at $110.72 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.35 and a current ratio of 0.81. The J. M. Smucker Company has a one year low of $93.30 and a one year high of $125.42. The company's 50-day simple moving average is $104.33 and its 200-day simple moving average is $108.98. The stock has a market capitalization of $11.79 billion, a price-to-earnings ratio of -9.58, a PEG ratio of 8.41 and a beta of 0.31.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its quarterly earnings results on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.25 by $0.06. J. M. Smucker had a negative net margin of 14.10% and a positive return on equity of 15.20%. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.18 billion. During the same quarter last year, the company posted $2.66 earnings per share. The company's quarterly revenue was down 2.8% compared to the same quarter last year. Equities analysts anticipate that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from J. M. Smucker's previous quarterly dividend of $1.08. This represents a $4.40 annualized dividend and a dividend yield of 4.0%. J. M. Smucker's dividend payout ratio is -37.37%.

About J. M. Smucker

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.

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