Sumitomo Mitsui Trust Group Inc. Acquires 3,934 Shares of The J. M. Smucker Company (NYSE:SJM)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 313,042 shares of the company’s stock after purchasing an additional 3,934 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in J. M. Smucker were worth $37,909,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SJM. Harbour Investments Inc. boosted its stake in J. M. Smucker by 175.5% in the third quarter. Harbour Investments Inc. now owns 8,883 shares of the company’s stock valued at $1,076,000 after acquiring an additional 5,659 shares during the last quarter. Entropy Technologies LP purchased a new position in J. M. Smucker in the third quarter valued at approximately $796,000. Venturi Wealth Management LLC grew its holdings in J. M. Smucker by 1,329.4% during the third quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after purchasing an additional 226 shares during the period. Sigma Planning Corp increased its position in J. M. Smucker by 5.1% in the third quarter. Sigma Planning Corp now owns 4,115 shares of the company’s stock worth $498,000 after buying an additional 201 shares during the last quarter. Finally, Klingman & Associates LLC bought a new stake in shares of J. M. Smucker in the third quarter valued at $230,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Price Performance

Shares of NYSE SJM opened at $106.92 on Friday. The stock’s 50-day simple moving average is $117.25 and its two-hundred day simple moving average is $115.56. The J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $134.62. The firm has a market capitalization of $11.38 billion, a P/E ratio of 15.12, a P/E/G ratio of 3.17 and a beta of 0.25. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the business earned $2.21 earnings per share. J. M. Smucker’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, equities analysts anticipate that The J. M. Smucker Company will post 9.8 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a $1.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 4.04%. J. M. Smucker’s dividend payout ratio (DPR) is presently 61.10%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SJM shares. Wells Fargo & Company decreased their price objective on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Stifel Nicolaus lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and lowered their price target for the company from $135.00 to $125.00 in a research report on Friday, October 25th. BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Finally, DA Davidson restated a “neutral” rating and set a $121.00 target price on shares of J. M. Smucker in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $127.09.

J. M. Smucker Company 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, toppings, and syrups; jelly products; nut mix products; shortening and oils; 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.