Mirae Asset Global Investments Co. Ltd. raised its stake in The J. M. Smucker Company (NYSE:SJM – Get Rating) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,477 shares of the company’s stock after purchasing an additional 1,345 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in J. M. Smucker were worth $4,939,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of SJM. MUFG Americas Holdings Corp increased its holdings in shares of J. M. Smucker by 93.0% in the first quarter. MUFG Americas Holdings Corp now owns 193 shares of the company’s stock valued at $26,000 after purchasing an additional 93 shares during the last quarter. Shore Point Advisors LLC acquired a new position in shares of J. M. Smucker in the fourth quarter valued at $27,000. Hazlett Burt & Watson Inc. acquired a new position in shares of J. M. Smucker in the first quarter valued at $27,000. Herold Advisors Inc. acquired a new position in shares of J. M. Smucker in the first quarter valued at $27,000. Finally, MCF Advisors LLC bought a new stake in shares of J. M. Smucker in the first quarter valued at about $28,000. 83.02% of the stock is currently owned by institutional investors and hedge funds.
J. M. Smucker Stock Down 1.4 %
SJM stock opened at $137.75 on Tuesday. The stock has a market capitalization of $14.94 billion, a P/E ratio of 23.63, a price-to-earnings-growth ratio of 15.08 and a beta of 0.25. The company has a current ratio of 1.03, a quick ratio of 0.47 and a debt-to-equity ratio of 0.53. The J. M. Smucker Company has a 12 month low of $118.55 and a 12 month high of $146.74. The firm has a 50-day moving average price of $131.24 and a 200-day moving average price of $133.22.
J. M. Smucker (NYSE:SJM – Get Rating) last posted its earnings results on Tuesday, June 7th. The company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.35. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.98 billion. J. M. Smucker had a net margin of 7.90% and a return on equity of 11.71%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 earnings per share. As a group, equities research analysts anticipate that The J. M. Smucker Company will post 8.06 EPS for the current fiscal year.
J. M. Smucker Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 12th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $4.08 annualized dividend and a dividend yield of 2.96%. This is an increase from J. M. Smucker’s previous quarterly dividend of $0.99. J. M. Smucker’s dividend payout ratio is currently 69.98%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on SJM shares. Citigroup boosted their target price on shares of J. M. Smucker to $137.00 in a research report on Thursday, June 9th. Consumer Edge cut shares of J. M. Smucker from an “equal weight” rating to an “underweight” rating in a research report on Thursday, June 16th. UBS Group boosted their target price on shares of J. M. Smucker to $124.00 in a research report on Thursday, June 9th. Bank of America raised shares of J. M. Smucker from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $155.00 in a research report on Wednesday, August 17th. Finally, Credit Suisse Group set a $140.00 target price on shares of J. M. Smucker in a research report on Tuesday, July 19th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $135.00.
J. M. Smucker Profile
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, shortening and oils, and 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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