Sumitomo Mitsui Trust Group Inc. Raises Stock Position in The J. M. Smucker Company (NYSE:SJM)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of The J. M. Smucker Company (NYSE:SJM) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 324,381 shares of the company’s stock after acquiring an additional 11,339 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.30% of J. M. Smucker worth $35,721,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Raymond James Trust N.A. grew its stake in J. M. Smucker by 6.8% during the third quarter. Raymond James Trust N.A. now owns 4,846 shares of the company’s stock valued at $587,000 after acquiring an additional 310 shares in the last quarter. Nordea Investment Management AB lifted its position in J. M. Smucker by 16.5% during the fourth quarter. Nordea Investment Management AB now owns 1,361,902 shares of the company’s stock valued at $150,082,000 after purchasing an additional 192,748 shares during the last quarter. Miracle Mile Advisors LLC bought a new stake in J. M. Smucker during the fourth quarter valued at approximately $1,273,000. Signal Advisors Wealth LLC lifted its position in J. M. Smucker by 336.3% during the fourth quarter. Signal Advisors Wealth LLC now owns 12,950 shares of the company’s stock valued at $1,426,000 after purchasing an additional 9,982 shares during the last quarter. Finally, FMR LLC lifted its position in J. M. Smucker by 40.0% during the third quarter. FMR LLC now owns 3,353,996 shares of the company’s stock valued at $406,169,000 after purchasing an additional 958,142 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Up 1.3 %

Shares of NYSE SJM opened at $104.38 on Wednesday. The company has a market cap of $11.11 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 3.15 and a beta of 0.27. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The firm’s fifty day moving average is $108.02 and its 200 day moving average is $114.25. The J. M. Smucker Company has a 52 week low of $99.81 and a 52 week high of $130.79.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.25. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.59 EPS. On average, equities research analysts expect that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $4.32 annualized dividend and a yield of 4.14%. J. M. Smucker’s payout ratio is currently 87.45%.

Insider Buying and Selling at J. M. Smucker

In other J. M. Smucker news, CFO Tucker H. Marshall sold 994 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $113.00, for a total value of $112,322.00. Following the completion of the transaction, the chief financial officer now directly owns 18,734 shares in the company, valued at approximately $2,116,942. This represents a 5.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SJM. Wells Fargo & Company lifted their target price on shares of J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. TD Cowen lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and dropped their target price for the company from $130.00 to $121.00 in a research report on Wednesday, January 8th. Stifel Nicolaus dropped their target price on shares of J. M. Smucker from $125.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Finally, Barclays lowered their price objective on shares of J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $126.78.

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.