Mirae Asset Global Investments Co. Ltd. Sells 21,528 Shares of The J. M. Smucker Company (NYSE:SJM)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in The J. M. Smucker Company (NYSE:SJM) by 49.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,246 shares of the company’s stock after selling 21,528 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in J. M. Smucker were worth $2,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of SJM. Moneta Group Investment Advisors LLC increased its stake in shares of J. M. Smucker by 85,116.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,102,297 shares of the company’s stock worth $333,130,000 after acquiring an additional 2,099,830 shares in the last quarter. Norges Bank purchased a new stake in J. M. Smucker during the 4th quarter valued at about $219,033,000. Ameriprise Financial Inc. grew its position in J. M. Smucker by 487.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,459,200 shares of the company’s stock valued at $178,961,000 after purchasing an additional 1,210,837 shares during the last quarter. Nordea Investment Management AB grew its position in J. M. Smucker by 363.8% during the 4th quarter. Nordea Investment Management AB now owns 1,274,015 shares of the company’s stock valued at $160,258,000 after purchasing an additional 999,315 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in J. M. Smucker by 12,722.3% during the 4th quarter. International Assets Investment Management LLC now owns 334,022 shares of the company’s stock valued at $42,214,000 after purchasing an additional 331,417 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other J. M. Smucker news, insider Jeannette L. Knudsen sold 3,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $124.77, for a total transaction of $399,264.00. Following the sale, the insider now owns 8,946 shares in the company, valued at approximately $1,116,192.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SJM. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. increased their price objective on shares of J. M. Smucker from $126.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Citigroup cut their price objective on shares of J. M. Smucker from $153.00 to $152.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. DA Davidson started coverage on shares of J. M. Smucker in a report on Friday, March 1st. They set a “neutral” rating and a $132.00 price target on the stock. Finally, Barclays raised their price target on shares of J. M. Smucker from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $137.47.

J. M. Smucker Trading Down 0.2 %

Shares of NYSE:SJM opened at $109.77 on Thursday. The firm’s 50 day moving average price is $121.74 and its 200-day moving average price is $120.76. The J. M. Smucker Company has a twelve month low of $107.33 and a twelve month high of $159.92. The company has a current ratio of 0.78, a quick ratio of 0.38 and a debt-to-equity ratio of 1.07.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.21. J. M. Smucker had a negative net margin of 1.24% and a positive return on equity of 14.29%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the prior year, the business earned $2.21 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. Research analysts predict that The J. M. Smucker Company will post 9.6 EPS for the current year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend was Thursday, February 15th. J. M. Smucker’s payout ratio is -481.81%.

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.