Meiji Yasuda Asset Management Co Ltd. Sells 7,599 Shares of The J. M. Smucker Company $SJM

Meiji Yasuda Asset Management Co Ltd. decreased its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 7.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,024 shares of the company’s stock after selling 7,599 shares during the quarter. Meiji Yasuda Asset Management Co Ltd. owned approximately 0.08% of J. M. Smucker worth $9,559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. CreativeOne Wealth LLC boosted its stake in shares of J. M. Smucker by 10.2% during the 3rd quarter. CreativeOne Wealth LLC now owns 8,894 shares of the company’s stock worth $966,000 after buying an additional 820 shares during the last quarter. Natixis Advisors LLC bought a new stake in J. M. Smucker during the third quarter worth about $1,252,000. Neo Ivy Capital Management acquired a new position in J. M. Smucker during the third quarter valued at approximately $997,000. Dimensional Fund Advisors LP boosted its position in J. M. Smucker by 10.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,541,357 shares of the company’s stock valued at $275,982,000 after purchasing an additional 239,586 shares during the last quarter. Finally, Cresset Asset Management LLC bought a new position in J. M. Smucker in the third quarter valued at approximately $200,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. TD Cowen upped their price objective on J. M. Smucker from $105.00 to $112.00 and gave the stock a “hold” rating in a research note on Friday, February 20th. Sanford C. Bernstein raised their target price on shares of J. M. Smucker from $113.00 to $121.00 and gave the company a “market perform” rating in a research note on Friday, February 27th. Wall Street Zen lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating in a research report on Sunday. Weiss Ratings reiterated a “sell (d)” rating on shares of J. M. Smucker in a research note on Wednesday, January 21st. Finally, Bank of America raised shares of J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Monday, February 23rd. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, J. M. Smucker has an average rating of “Hold” and a consensus price target of $119.43.

J. M. Smucker Stock Performance

Shares of NYSE SJM opened at $111.30 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.35 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $11.87 billion, a P/E ratio of -9.44, a P/E/G ratio of 4.63 and a beta of 0.22. The J. M. Smucker Company has a 12 month low of $93.30 and a 12 month high of $121.48. The stock has a 50 day moving average of $105.49 and a 200-day moving average of $105.42.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results 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 business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the business earned $2.61 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities research analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Friday, February 13th. J. M. Smucker’s dividend payout ratio (DPR) is currently -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.