Nomura Asset Management Co. Ltd. Trims Holdings in The J. M. Smucker Company $SJM

Nomura Asset Management Co. Ltd. decreased its holdings in The J. M. Smucker Company (NYSE:SJM) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 384,622 shares of the company’s stock after selling 8,861 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in J. M. Smucker were worth $37,620,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. UBS Group AG increased its stake in J. M. Smucker by 238.7% in the fourth quarter. UBS Group AG now owns 3,924,282 shares of the company’s stock worth $383,834,000 after purchasing an additional 2,765,559 shares during the period. Dimensional Fund Advisors LP increased its stake in J. M. Smucker by 10.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,541,357 shares of the company’s stock worth $275,982,000 after purchasing an additional 239,586 shares during the period. ProShare Advisors LLC grew its position in shares of J. M. Smucker by 13.8% during the 3rd quarter. ProShare Advisors LLC now owns 1,562,259 shares of the company’s stock worth $169,661,000 after buying an additional 188,868 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of J. M. Smucker by 6,854.4% during the third quarter. Two Sigma Investments LP now owns 1,527,962 shares of the company’s stock valued at $165,937,000 after buying an additional 1,505,991 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of J. M. Smucker by 797.4% during the third quarter. National Bank of Canada FI now owns 1,401,173 shares of the company’s stock valued at $152,167,000 after buying an additional 1,245,035 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

SJM has been the topic of several research reports. Sanford C. Bernstein cut their price target 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. JPMorgan Chase & Co. cut their price target on J. M. Smucker from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 19th. Evercore initiated coverage on J. M. Smucker in a research note on Friday, May 15th. They set an “outperform” rating and a $117.00 price target on the stock. Wells Fargo & Company cut their price target on J. M. Smucker from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $95.00 price target on shares of J. M. Smucker in a research note on Wednesday, May 20th. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $116.35.

J. M. Smucker Price Performance

Shares of SJM stock opened at $103.31 on Monday. The J. M. Smucker Company has a 1-year low of $88.25 and a 1-year high of $119.39. The stock’s 50-day moving average is $97.56 and its 200 day moving average is $101.98. The company has a market cap of $11.02 billion, a P/E ratio of -8.76, a PEG ratio of 6.97 and a beta of 0.27. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.84 and a quick ratio of 0.35.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Thursday, February 26th. The company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the company earned $2.61 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Research analysts predict that The J. M. Smucker Company will post 9.03 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.40 dividend on an annualized basis and a yield of 4.3%. J. M. Smucker’s dividend payout ratio (DPR) is presently -37.32%.

J. M. Smucker Profile

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.