Korea Investment CORP Trims Position in The J. M. Smucker Company $SJM

Korea Investment CORP trimmed its position in The J. M. Smucker Company (NYSE:SJM) by 53.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,722 shares of the company’s stock after selling 32,300 shares during the period. Korea Investment CORP’s holdings in J. M. Smucker were worth $3,011,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SJM. Invesco Ltd. lifted its stake in shares of J. M. Smucker by 7.5% in the 2nd quarter. Invesco Ltd. now owns 2,819,028 shares of the company’s stock worth $276,829,000 after purchasing an additional 195,774 shares during the period. Geode Capital Management LLC boosted its holdings in shares of J. M. Smucker by 1.8% in the second quarter. Geode Capital Management LLC now owns 2,776,561 shares of the company’s stock worth $271,539,000 after buying an additional 49,017 shares during the last quarter. Dimensional Fund Advisors LP grew 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 buying an additional 239,586 shares during the period. Balyasny Asset Management L.P. increased its holdings in J. M. Smucker by 45.4% during the second quarter. Balyasny Asset Management L.P. now owns 2,251,934 shares of the company’s stock valued at $221,140,000 after buying an additional 703,382 shares during the last quarter. Finally, Ilex Capital Partners UK LLP increased its holdings in J. M. Smucker by 31.0% during the second quarter. Ilex Capital Partners UK LLP now owns 2,033,615 shares of the company’s stock valued at $199,701,000 after buying an additional 481,660 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SJM has been the topic of several analyst reports. UBS Group dropped their price target on shares of J. M. Smucker from $120.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Morgan Stanley restated an “equal weight” rating and issued a $105.00 price objective (down from $115.00) on shares of J. M. Smucker in a research note on Friday, January 16th. Barclays raised their target price on J. M. Smucker from $105.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Sanford C. Bernstein upgraded J. M. Smucker from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $121.00 to $145.00 in a research report on Wednesday. Finally, Citigroup reissued a “hold” rating on shares of J. M. Smucker in a report on Wednesday, November 26th. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, J. M. Smucker has an average rating of “Hold” and an average price target of $121.14.

J. M. Smucker Stock Performance

SJM opened at $106.11 on Friday. The company has a 50 day simple moving average of $106.25 and a two-hundred day simple moving average of $105.33. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.84 and a quick ratio of 0.35. The firm has a market cap of $11.32 billion, a P/E ratio of -9.00, a PEG ratio of 4.48 and a beta of 0.22. The J. M. Smucker Company has a 1-year low of $93.30 and a 1-year high of $120.76.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Thursday, February 26th. The company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.27 by $0.11. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period last year, the firm earned $2.61 EPS. The company’s revenue was up 7.0% on a year-over-year basis. Equities analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $4.40 dividend on an annualized basis and a yield of 4.1%. 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.