Mirae Asset Global Investments Co. Ltd. Raises Stake in The J. M. Smucker Company (NYSE:SJM)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of The J. M. Smucker Company (NYSE:SJMGet Rating) by 3.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 36,477 shares of the company’s stock after purchasing an additional 1,345 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in J. M. Smucker were worth $4,939,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. State Street Corp raised its holdings in shares of J. M. Smucker by 7.5% in the 4th quarter. State Street Corp now owns 8,032,129 shares of the company’s stock valued at $1,090,924,000 after acquiring an additional 561,132 shares in the last quarter. CWM LLC raised its holdings in shares of J. M. Smucker by 15,770.4% in the 1st quarter. CWM LLC now owns 211,552 shares of the company’s stock valued at $28,646,000 after acquiring an additional 210,219 shares in the last quarter. National Pension Service raised its holdings in shares of J. M. Smucker by 1,012.2% in the 1st quarter. National Pension Service now owns 192,636 shares of the company’s stock valued at $26,085,000 after acquiring an additional 175,315 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of J. M. Smucker by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 12,721,847 shares of the company’s stock valued at $1,722,666,000 after acquiring an additional 162,944 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of J. M. Smucker by 67.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 363,048 shares of the company’s stock valued at $49,309,000 after acquiring an additional 146,180 shares in the last quarter. Hedge funds and other institutional investors own 79.56% of the company’s stock.

Wall Street Analysts Forecast Growth

SJM has been the topic of several recent analyst reports. Credit Suisse Group raised their price target on J. M. Smucker from $140.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, August 24th. Stifel Nicolaus raised their price objective on J. M. Smucker from $140.00 to $148.00 in a report on Wednesday, August 24th. Citigroup raised their price objective on J. M. Smucker to $137.00 in a report on Thursday, June 9th. Consumer Edge cut J. M. Smucker from an “equal weight” rating to an “underweight” rating in a report on Thursday, June 16th. Finally, Bank of America raised J. M. Smucker from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $155.00 in a report on Wednesday, August 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $138.82.

J. M. Smucker Price Performance

SJM opened at $142.03 on Friday. The stock’s 50 day simple moving average is $136.71 and its 200 day simple moving average is $134.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 0.45. The J. M. Smucker Company has a 1 year low of $119.09 and a 1 year high of $146.74. The firm has a market cap of $15.13 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 5.89 and a beta of 0.22.

J. M. Smucker (NYSE:SJMGet Rating) last posted its quarterly earnings results on Tuesday, August 23rd. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.27. J. M. Smucker had a return on equity of 11.38% and a net margin of 7.33%. During the same quarter last year, the business posted $1.90 EPS. As a group, analysts predict that The J. M. Smucker Company will post 8.54 earnings per share for the current year.

J. M. Smucker Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were given a $1.02 dividend. This is a positive change from J. M. Smucker’s previous quarterly dividend of $0.99. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Thursday, August 11th. J. M. Smucker’s dividend payout ratio (DPR) is currently 75.00%.

Insider Transactions at J. M. Smucker

In other news, insider Jill R. Penrose sold 4,543 shares of J. M. Smucker stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $140.83, for a total value of $639,790.69. Following the sale, the insider now directly owns 9,106 shares in the company, valued at approximately $1,282,397.98. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Richard K. Smucker sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $142.28, for a total value of $2,845,600.00. Following the completion of the transaction, the director now owns 631,010 shares in the company, valued at approximately $89,780,102.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jill R. Penrose sold 4,543 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $140.83, for a total value of $639,790.69. Following the completion of the transaction, the insider now owns 9,106 shares of the company’s stock, valued at approximately $1,282,397.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,019 shares of company stock worth $8,995,996. 3.90% of the stock is currently owned by insiders.

About J. M. Smucker

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding SJM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The J. M. Smucker Company (NYSE:SJMGet Rating).

Institutional Ownership by Quarter for J. M. Smucker (NYSE:SJM)

Receive News & Ratings for J. M. Smucker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J. M. Smucker and related companies with MarketBeat.com's FREE daily email newsletter.