Resona Asset Management Co. Ltd. Buys New Holdings in The J. M. Smucker Company (NYSE:SJM)

Resona Asset Management Co. Ltd. acquired a new stake in The J. M. Smucker Company (NYSE:SJM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 55,696 shares of the company's stock, valued at approximately $6,142,000. Resona Asset Management Co. Ltd. owned approximately 0.05% of J. M. Smucker as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SJM. Capital Advisors Ltd. LLC lifted its stake in shares of J. M. Smucker by 188.8% in the fourth quarter. Capital Advisors Ltd. LLC now owns 231 shares of the company's stock worth $25,000 after buying an additional 151 shares in the last quarter. Kentucky Trust Co purchased a new position in J. M. Smucker in the 4th quarter worth approximately $28,000. Kieckhefer Group LLC purchased a new position in J. M. Smucker in the 4th quarter worth approximately $33,000. Hantz Financial Services Inc. purchased a new stake in shares of J. M. Smucker in the fourth quarter valued at approximately $39,000. Finally, Sandy Spring Bank increased its holdings in shares of J. M. Smucker by 1,365.5% in the fourth quarter. Sandy Spring Bank now owns 425 shares of the company's stock valued at $47,000 after purchasing an additional 396 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

J. M. Smucker Trading Up 1.3 %

Shares of NYSE:SJM traded up $1.54 during mid-day trading on Friday, reaching $115.91. 1,126,158 shares of the company were exchanged, compared to its average volume of 1,186,419. The J. M. Smucker Company has a 1 year low of $98.77 and a 1 year high of $125.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27. The firm's 50-day simple moving average is $110.69 and its 200 day simple moving average is $111.87. The firm has a market cap of $12.33 billion, a price-to-earnings ratio of 23.46, a P/E/G ratio of 3.91 and a beta of 0.35.

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J. M. Smucker (NYSE:SJM - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $2.37 by $0.24. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.23 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. Equities research analysts forecast that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $1.08 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $4.32 dividend on an annualized basis and a yield of 3.73%. J. M. Smucker's dividend payout ratio (DPR) is presently -179.25%.

Insider Transactions at J. M. Smucker

In related news, insider Jill R. Penrose sold 5,117 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $116.26, for a total transaction of $594,902.42. Following the sale, the insider now directly owns 8,794 shares of the company's stock, valued at $1,022,390.44. This represents a 36.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tucker H. Marshall sold 5,028 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $113.36, for a total transaction of $569,974.08. Following the sale, the chief financial officer now owns 13,263 shares in the company, valued at approximately $1,503,493.68. This trade represents a 27.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SJM shares. TD Cowen lowered J. M. Smucker from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $130.00 to $121.00 in a research note on Wednesday, January 8th. Barclays lowered their price target on shares of J. M. Smucker from $123.00 to $119.00 and set an "equal weight" rating on the stock in a research report on Monday, March 3rd. Morgan Stanley began coverage on shares of J. M. Smucker in a research report on Monday, March 24th. They set an "overweight" rating and a $123.00 price objective for the company. Stifel Nicolaus decreased their target price on shares of J. M. Smucker from $125.00 to $120.00 and set a "hold" rating on the stock in a report on Friday, January 24th. Finally, DA Davidson cut their price target on shares of J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, J. M. Smucker has a consensus rating of "Hold" and an average target price of $125.67.

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.