The J. M. Smucker Company $SJM Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its J. M. Smucker stake by 4.7% in the fourth quarter, owning 271,304 shares worth about $26.2 million at quarter-end.
• Smucker reported better-than-expected fiscal Q4 results, with EPS of $2.38 versus estimates of $2.27 and revenue of $2.34 billion, up 7% from a year ago.
• The company announced a quarterly dividend of $1.10 per share, implying an annualized yield of 4.4%, while analysts currently rate the stock a consensus Hold with a $116.56 average price target.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 271,304 shares of the company's stock after acquiring an additional 12,220 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.25% of J. M. Smucker worth $26,216,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wesbanco Bank Inc. raised its holdings in J. M. Smucker by 2.9% during the third quarter. Wesbanco Bank Inc. now owns 3,615 shares of the company's stock worth $393,000 after purchasing an additional 102 shares in the last quarter. Wedbush Securities Inc. raised its holdings in J. M. Smucker by 1.2% during the third quarter. Wedbush Securities Inc. now owns 8,861 shares of the company's stock worth $962,000 after purchasing an additional 106 shares in the last quarter. IFP Advisors Inc raised its holdings in J. M. Smucker by 22.9% during the third quarter. IFP Advisors Inc now owns 586 shares of the company's stock worth $64,000 after purchasing an additional 109 shares in the last quarter. Diversify Advisory Services LLC raised its holdings in J. M. Smucker by 4.2% during the fourth quarter. Diversify Advisory Services LLC now owns 2,815 shares of the company's stock worth $287,000 after purchasing an additional 113 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in J. M. Smucker by 5.1% during the third quarter. Hantz Financial Services Inc. now owns 2,437 shares of the company's stock worth $265,000 after purchasing an additional 118 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 $99.18 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.35 and a debt-to-equity ratio of 1.31. The firm has a market cap of $10.58 billion, a PE ratio of -8.41, a price-to-earnings-growth ratio of 3.98 and a beta of 0.25. The company's 50 day simple moving average is $99.98 and its 200-day simple moving average is $102.25. The J. M. Smucker Company has a 12-month low of $88.25 and a 12-month high of $119.39.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported $2.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.27 by $0.11. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.32 billion. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $2.61 earnings per share. As a group, equities analysts predict that The J. M. Smucker Company will post 9.04 EPS for the current year.

J. M. Smucker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be given a dividend of $1.10 per share. The ex-dividend date is Friday, May 15th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.4%. J. M. Smucker's dividend payout ratio (DPR) is -37.32%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SJM shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of J. M. Smucker from $117.00 to $97.00 and set a "hold" rating on the stock in a report on Monday, March 30th. Canaccord Genuity Group raised shares of J. M. Smucker to a "buy" rating in a report on Friday, January 16th. Stifel Nicolaus cut their price objective on shares of J. M. Smucker from $120.00 to $100.00 and set a "hold" rating on the stock in a report on Tuesday, April 21st. BTIG Research started coverage on shares of J. M. Smucker in a report on Monday, April 13th. They set a "buy" rating and a $120.00 price objective on the stock. Finally, TD Cowen cut their price objective on shares of J. M. Smucker from $124.00 to $113.00 and set a "hold" rating on the stock in a report on Thursday, March 19th. Ten research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, J. M. Smucker currently has an average rating of "Hold" and an average price target of $116.56.

About J. M. Smucker

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company's main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker's core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker's® fruit spreads, Jif® peanut butter, Folgers® and Dunkin'® coffees, and Café Bustelo® coffee.

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