AIA Group Ltd raised its position in The J. M. Smucker Company (NYSE:SJM – Get Rating) by 41.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,857 shares of the company’s stock after purchasing an additional 544 shares during the quarter. AIA Group Ltd’s holdings in J. M. Smucker were worth $251,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Sequoia Financial Advisors LLC raised its stake in shares of J. M. Smucker by 8,965.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 1,024,047 shares of the company’s stock valued at $139,086,000 after acquiring an additional 1,012,751 shares during the period. State Street Corp increased its stake in J. M. Smucker by 7.5% during the 4th quarter. State Street Corp now owns 8,032,129 shares of the company’s stock worth $1,090,924,000 after buying an additional 561,132 shares during the period. CWM LLC increased its stake in J. M. Smucker by 15,770.4% during the 1st quarter. CWM LLC now owns 211,552 shares of the company’s stock worth $28,646,000 after buying an additional 210,219 shares during the period. Goldman Sachs Group Inc. increased its stake in J. M. Smucker by 67.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 363,048 shares of the company’s stock worth $49,309,000 after buying an additional 146,180 shares during the period. Finally, Geode Capital Management LLC increased its stake in J. M. Smucker by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 2,120,286 shares of the company’s stock worth $287,268,000 after buying an additional 123,104 shares during the period. 83.02% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on SJM. Citigroup upped their target price on shares of J. M. Smucker to $137.00 in a research note on Thursday, June 9th. Credit Suisse Group set a $140.00 target price on shares of J. M. Smucker in a research note on Tuesday, July 19th. UBS Group upped their target price on shares of J. M. Smucker to $124.00 in a research note on Thursday, June 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of J. M. Smucker from $133.00 to $131.00 in a research report on Wednesday, June 8th. Finally, Consumer Edge downgraded shares of J. M. Smucker from an “equal weight” rating to an “underweight” rating in a research report on Thursday, June 16th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $133.18.
J. M. Smucker Trading Down 0.0 %
J. M. Smucker (NYSE:SJM – Get Rating) last issued its quarterly earnings results on Tuesday, June 7th. The company reported $2.23 earnings per share 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%. J. M. Smucker’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 EPS. On average, equities analysts forecast that The J. M. Smucker Company will post 8.31 EPS for the current fiscal year.
J. M. Smucker Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 12th will be paid a dividend of $1.02 per share. The ex-dividend date is Thursday, August 11th. This represents a $4.08 dividend on an annualized basis and a yield of 3.07%. This is a boost from J. M. Smucker’s previous quarterly dividend of $0.99. J. M. Smucker’s dividend payout ratio is currently 67.92%.
About J. M. Smucker
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.
- Get a free copy of the StockNews.com research report on J. M. Smucker (SJM)
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