Nomura Asset Management Co. Ltd. Raises Holdings in The J. M. Smucker Company (NYSE:SJM)

Nomura Asset Management Co. Ltd. increased its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 5.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 336,159 shares of the company's stock after purchasing an additional 18,417 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.32% of J. M. Smucker worth $40,709,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SJM. Studio Investment Management LLC purchased a new stake in shares of J. M. Smucker during the 2nd quarter valued at about $26,000. Venturi Wealth Management LLC increased its stake in J. M. Smucker by 1,329.4% during the third quarter. Venturi Wealth Management LLC now owns 243 shares of the company's stock worth $29,000 after acquiring an additional 226 shares during the last quarter. Quarry LP raised its position in J. M. Smucker by 212.6% during the second quarter. Quarry LP now owns 322 shares of the company's stock valued at $35,000 after purchasing an additional 219 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of J. M. Smucker in the 3rd quarter worth approximately $39,000. Finally, Eastern Bank bought a new position in shares of J. M. Smucker during the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

J. M. Smucker Stock Down 2.4 %

NYSE:SJM traded down $2.83 during mid-day trading on Tuesday, reaching $115.00. The company's stock had a trading volume of 1,193,565 shares, compared to its average volume of 1,180,323. 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 has a market capitalization of $12.24 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 3.27 and a beta of 0.26. The stock has a fifty day moving average of $115.95 and a 200-day moving average of $115.85. The J. M. Smucker Company has a 1 year low of $105.69 and a 1 year high of $134.62.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.51 by $0.25. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the firm posted $2.59 earnings per share. J. M. Smucker's revenue for the quarter was up 17.2% compared to the same quarter last year. Equities research analysts forecast that The J. M. Smucker Company will post 9.9 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend was Friday, November 15th. J. M. Smucker's payout ratio is 87.45%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. TD Cowen dropped their price objective on shares of J. M. Smucker from $135.00 to $132.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. Barclays cut their price target on shares of J. M. Smucker from $126.00 to $123.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 4th. Wells Fargo & Company raised their price objective on shares of J. M. Smucker from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 27th. Citigroup decreased their price target on J. M. Smucker from $138.00 to $136.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. Finally, Stifel Nicolaus downgraded J. M. Smucker from a "buy" rating to a "hold" rating and cut their price objective for the company from $135.00 to $125.00 in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, J. M. Smucker has an average rating of "Hold" and an average price target of $128.56.

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, 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.