The J. M. Smucker Company $SJM Stock Position Lowered by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its stake in The J. M. Smucker Company by 6.3% to 255,100 shares (about 0.24% of the company), valued at roughly $24.95 million at the end of the quarter.
• Several large institutions dramatically increased positions—Two Sigma now owns about 1.53 million shares (~$165.9M) and National Bank of Canada FI about 1.40 million (~$152.2M)—and institutional investors collectively hold roughly 81.66% of the stock.
• Smucker beat Q earnings estimates (EPS $2.38 vs. $2.27) with revenue up 7% to $2.34B, announced a $1.10 quarterly dividend (4.7% yield), and currently trades with a market cap near $10.0B while showing a negative P/E of -7.96.

Sumitomo Mitsui Trust Group Inc. lessened its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 6.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 255,100 shares of the company's stock after selling 17,272 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of J. M. Smucker worth $24,951,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Two Sigma Investments LP raised its position in shares of J. M. Smucker by 6,854.4% during the third quarter. Two Sigma Investments LP now owns 1,527,962 shares of the company's stock worth $165,937,000 after purchasing an additional 1,505,991 shares during the period. National Bank of Canada FI raised its position in shares of J. M. Smucker by 797.4% during the third quarter. National Bank of Canada FI now owns 1,401,173 shares of the company's stock worth $152,167,000 after purchasing an additional 1,245,035 shares during the period. Capitolis Liquid Global Markets LLC acquired a new stake in shares of J. M. Smucker during the third quarter worth $112,944,000. Assenagon Asset Management S.A. raised its position in shares of J. M. Smucker by 811.0% during the third quarter. Assenagon Asset Management S.A. now owns 919,139 shares of the company's stock worth $99,818,000 after purchasing an additional 818,245 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of J. M. Smucker by 339.1% during the third quarter. AQR Capital Management LLC now owns 1,029,222 shares of the company's stock worth $111,156,000 after purchasing an additional 794,851 shares during the period. Institutional investors own 81.66% of the company's stock.

J. M. Smucker Stock Up 0.4%

SJM stock opened at $93.89 on Friday. The J. M. Smucker Company has a 12-month low of $88.25 and a 12-month high of $119.39. The company has a quick ratio of 0.35, a current ratio of 0.84 and a debt-to-equity ratio of 1.31. The company has a market cap of $10.01 billion, a price-to-earnings ratio of -7.96, a PEG ratio of 4.06 and a beta of 0.27. The company has a 50 day moving average of $103.33 and a two-hundred day moving average of $103.15.

J. M. Smucker (NYSE:SJM - Get Free Report) last released 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. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the firm earned $2.61 EPS. The company's revenue was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a $1.10 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.40 dividend on an annualized basis and a yield of 4.7%. J. M. Smucker's payout ratio is -37.32%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on J. M. Smucker from $117.00 to $97.00 and set a "hold" rating on the stock in a research report on Monday, March 30th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of J. M. Smucker in a research report on Wednesday, January 21st. Morgan Stanley reaffirmed an "equal weight" rating and set a $105.00 target price (down from $115.00) on shares of J. M. Smucker in a research report on Friday, January 16th. Wall Street Zen lowered J. M. Smucker from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Finally, Sanford C. Bernstein raised J. M. Smucker from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $121.00 to $145.00 in a research report on Wednesday, March 11th. Ten investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, J. M. Smucker presently has an average rating of "Hold" and a consensus price target of $117.94.

J. M. Smucker Company Profile

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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