Meiji Yasuda Life Insurance Co Takes $433,000 Position in J M Smucker Co (NYSE:SJM)

Meiji Yasuda Life Insurance Co bought a new stake in shares of J M Smucker Co (NYSE:SJM) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 3,720 shares of the company’s stock, valued at approximately $433,000.

Other large investors have also recently added to or reduced their stakes in the company. Andra AP fonden purchased a new stake in shares of J M Smucker in the 1st quarter worth $4,648,000. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of J M Smucker by 32.2% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,256 shares of the company’s stock valued at $1,311,000 after purchasing an additional 2,740 shares during the period. Advisory Alpha LLC purchased a new stake in shares of J M Smucker in the first quarter worth about $170,000. Wealthfront Advisers LLC boosted its stake in shares of J M Smucker by 57.3% in the first quarter. Wealthfront Advisers LLC now owns 16,055 shares of the company’s stock worth $1,870,000 after buying an additional 5,849 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in shares of J M Smucker by 19.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 359,792 shares of the company’s stock worth $41,917,000 after buying an additional 57,817 shares during the last quarter. 78.06% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have commented on SJM shares. Wells Fargo & Co increased their target price on J M Smucker from $110.00 to $114.00 and gave the company a “market perform” rating in a report on Friday, June 7th. Morgan Stanley raised their target price on J M Smucker from $117.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, June 7th. Zacks Investment Research cut J M Smucker from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Bank of America restated a “neutral” rating and set a $107.00 price target on shares of J M Smucker in a research report on Friday, May 17th. Finally, Credit Suisse Group upgraded J M Smucker from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $96.00 to $120.00 in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $116.11.

Shares of SJM opened at $123.35 on Friday. The firm has a market capitalization of $14.04 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 3.60 and a beta of 0.53. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.69 and a quick ratio of 0.31. J M Smucker Co has a fifty-two week low of $91.32 and a fifty-two week high of $128.43.

J M Smucker (NYSE:SJM) last announced its quarterly earnings results on Thursday, June 6th. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.11. J M Smucker had a return on equity of 11.80% and a net margin of 6.56%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm earned $1.93 EPS. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, analysts forecast that J M Smucker Co will post 8.54 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $3.40 annualized dividend and a dividend yield of 2.76%. J M Smucker’s payout ratio is 41.01%.

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J M Smucker Company Profile

The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.

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Institutional Ownership by Quarter for J M Smucker (NYSE:SJM)

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