Mirae Asset Global Investments Co. Ltd. Reduces Stake in The J. M. Smucker Company (NYSE:SJM)

Mirae Asset Global Investments Co. Ltd. lessened its stake in The J. M. Smucker Company (NYSE:SJM) by 49.2% during the 4th quarter, HoldingsChannel reports. The firm owned 22,246 shares of the company’s stock after selling 21,528 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in J. M. Smucker were worth $2,811,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Eagle Bay Advisors LLC purchased a new stake in J. M. Smucker in the 2nd quarter worth approximately $27,000. Clear Street Markets LLC raised its stake in shares of J. M. Smucker by 97.2% during the 1st quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock worth $33,000 after buying an additional 104 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of J. M. Smucker during the 1st quarter worth approximately $33,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of J. M. Smucker during the 3rd quarter worth approximately $41,000. Finally, Resurgent Financial Advisors LLC acquired a new position in shares of J. M. Smucker during the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SJM shares. DA Davidson started coverage on J. M. Smucker in a research note on Friday, March 1st. They set a “neutral” rating and a $132.00 target price for the company. Barclays upped their target price on J. M. Smucker from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Stifel Nicolaus raised J. M. Smucker from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a research note on Wednesday, February 28th. TD Cowen reduced their price objective on J. M. Smucker from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Finally, Citigroup reduced their price objective on J. M. Smucker from $153.00 to $152.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, J. M. Smucker presently has an average rating of “Hold” and a consensus target price of $137.47.

J. M. Smucker Price Performance

Shares of SJM opened at $109.77 on Thursday. The J. M. Smucker Company has a 52-week low of $107.33 and a 52-week high of $159.92. The stock has a fifty day simple moving average of $121.74 and a two-hundred day simple moving average of $120.76. The company has a quick ratio of 0.38, a current ratio of 0.78 and a debt-to-equity ratio of 1.07.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Tuesday, February 27th. The company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.21. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.22 billion. J. M. Smucker had a positive return on equity of 14.29% and a negative net margin of 1.24%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the company earned $2.21 EPS. Analysts predict that The J. M. Smucker Company will post 9.6 EPS for the current year.

J. M. Smucker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date was Thursday, February 15th. J. M. Smucker’s dividend payout ratio is presently -481.81%.

Insider Transactions at J. M. Smucker

In other news, insider Jeannette L. Knudsen sold 3,200 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $124.77, for a total transaction of $399,264.00. Following the completion of the transaction, the insider now directly owns 8,946 shares in the company, valued at approximately $1,116,192.42. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.50% of the company’s stock.

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, 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.