The J. M. Smucker Company (NYSE:SJM) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lowered its stake in The J. M. Smucker Company (NYSE:SJM) by 61.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 18,605 shares of the company’s stock after selling 29,891 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in J. M. Smucker were worth $2,351,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SJM. Nisa Investment Advisors LLC raised its position in J. M. Smucker by 17.1% in the third quarter. Nisa Investment Advisors LLC now owns 7,674 shares of the company’s stock worth $943,000 after acquiring an additional 1,120 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in J. M. Smucker by 18.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 223,101 shares of the company’s stock worth $27,421,000 after buying an additional 34,600 shares during the period. Corient Private Wealth LLC raised its holdings in J. M. Smucker by 67.9% during the 3rd quarter. Corient Private Wealth LLC now owns 57,776 shares of the company’s stock worth $7,101,000 after buying an additional 23,372 shares during the period. Pinnacle Financial Partners Inc acquired a new stake in J. M. Smucker during the 3rd quarter worth about $238,000. Finally, Achmea Investment Management B.V. increased its holdings in shares of J. M. Smucker by 1.8% in the 3rd quarter. Achmea Investment Management B.V. now owns 68,782 shares of the company’s stock valued at $8,454,000 after purchasing an additional 1,205 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on J. M. Smucker from $126.00 to $128.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Stifel Nicolaus upgraded J. M. Smucker from a “hold” rating to a “buy” rating and set a $135.00 target price on the stock in a report on Wednesday, February 28th. Citigroup dropped their target price on J. M. Smucker from $153.00 to $152.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. TD Cowen lowered their price target on J. M. Smucker from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Finally, Barclays boosted their price target on J. M. Smucker from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, J. M. Smucker has an average rating of “Hold” and an average target price of $137.47.

J. M. Smucker Price Performance

J. M. Smucker stock traded down $0.10 during mid-day trading on Friday, hitting $110.30. 24,483 shares of the company were exchanged, compared to its average volume of 1,236,920. The company has a quick ratio of 0.38, a current ratio of 0.78 and a debt-to-equity ratio of 1.07. The business has a fifty day moving average of $116.76 and a 200 day moving average of $120.65. The J. M. Smucker Company has a 1-year low of $107.33 and a 1-year high of $156.03. The company has a market capitalization of $11.71 billion, a PE ratio of -125.45, a price-to-earnings-growth ratio of 1.68 and a beta of 0.23.

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

J. M. Smucker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 3.84%. The ex-dividend date is Thursday, May 16th. J. M. Smucker’s dividend payout ratio is -481.81%.

Insider Activity at J. M. Smucker

In related news, insider Jeannette L. Knudsen sold 3,200 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $124.77, for a total value of $399,264.00. Following the transaction, the insider now owns 8,946 shares in the company, valued at $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.

J. M. Smucker 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.