Resona Asset Management Co. Ltd. Sells 5,688 Shares of The J. M. Smucker Company $SJM

Resona Asset Management Co. Ltd. trimmed its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 9.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 56,728 shares of the company’s stock after selling 5,688 shares during the period. Resona Asset Management Co. Ltd.’s holdings in J. M. Smucker were worth $5,583,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Root Financial Partners LLC purchased a new stake in shares of J. M. Smucker during the third quarter valued at approximately $29,000. CYBER HORNET ETFs LLC purchased a new stake in shares of J. M. Smucker during the second quarter valued at approximately $27,000. MUFG Securities EMEA plc purchased a new stake in J. M. Smucker in the second quarter worth $31,000. Rothschild Investment LLC raised its stake in shares of J. M. Smucker by 100.4% in the third quarter. Rothschild Investment LLC now owns 567 shares of the company’s stock valued at $62,000 after buying an additional 284 shares during the period. Finally, IFP Advisors Inc raised its stake in shares of J. M. Smucker by 22.9% in the third quarter. IFP Advisors Inc now owns 586 shares of the company’s stock valued at $64,000 after buying an additional 109 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Price Performance

J. M. Smucker stock opened at $103.46 on Friday. The J. M. Smucker Company has a 52 week low of $88.25 and a 52 week high of $119.39. The business has a 50-day simple moving average of $97.65 and a 200 day simple moving average of $102.07. 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 stock has a market cap of $11.03 billion, a price-to-earnings ratio of -8.78, a PEG ratio of 6.88 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Thursday, February 26th. The company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.27 by $0.11. J. M. Smucker had a positive return on equity of 15.94% and a negative net margin of 14.07%.The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the previous year, the business earned $2.61 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. On average, research analysts forecast that The J. M. Smucker Company will post 9.03 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, May 15th. J. M. Smucker’s payout ratio is presently -37.32%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SJM shares. Evercore started coverage on J. M. Smucker in a research note on Friday, May 15th. They issued an “outperform” rating and a $117.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on J. M. Smucker from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday. Sanford C. Bernstein lowered their target price on J. M. Smucker from $145.00 to $134.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Barclays lowered their target price on J. M. Smucker from $125.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 14th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $95.00 target price on shares of J. M. Smucker in a research note on Wednesday. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $116.35.

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.