Tokio Marine Asset Management Co. Ltd. Reduces Position in The J. M. Smucker Company (NYSE:SJM)

Tokio Marine Asset Management Co. Ltd. cut its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,999 shares of the company’s stock after selling 668 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in J. M. Smucker were worth $885,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SJM. Ameriprise Financial Inc. raised its stake in shares of J. M. Smucker by 487.5% in the third quarter. Ameriprise Financial Inc. now owns 1,459,200 shares of the company’s stock worth $178,961,000 after buying an additional 1,210,837 shares during the period. Nordea Investment Management AB raised 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 in the last quarter. International Assets Investment Management LLC raised 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 in the last quarter. FMR LLC raised its position in J. M. Smucker by 32.2% during the 3rd quarter. FMR LLC now owns 646,827 shares of the company’s stock valued at $79,501,000 after purchasing an additional 157,443 shares in the last quarter. Finally, Invesco Ltd. raised its position in J. M. Smucker by 9.3% during the 3rd quarter. Invesco Ltd. now owns 1,777,750 shares of the company’s stock valued at $218,503,000 after purchasing an additional 151,389 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Stock Down 1.4 %

SJM opened at $113.60 on Friday. The J. M. Smucker Company has a 12-month low of $107.33 and a 12-month high of $159.92. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.78 and a quick ratio of 0.38. The firm has a 50 day moving average of $120.10 and a two-hundred day moving average of $120.62.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Tuesday, February 27th. The company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.21. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.22 billion. J. M. Smucker had a negative net margin of 1.24% and a positive return on equity of 14.29%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 EPS. On average, equities research analysts expect that The J. M. Smucker Company will post 9.6 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be paid a dividend of $1.06 per share. The ex-dividend date is Thursday, May 16th. This represents a $4.24 annualized dividend and a yield of 3.73%. J. M. Smucker’s dividend payout ratio (DPR) is presently -481.81%.

Analyst Ratings Changes

A number of brokerages have weighed in on SJM. Stifel Nicolaus raised J. M. Smucker from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a research report on Wednesday, February 28th. DA Davidson started coverage on J. M. Smucker in a research report on Friday, March 1st. They issued a “neutral” rating and a $132.00 price target for the company. Barclays boosted their target price on J. M. Smucker from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. TD Cowen dropped their target price on J. M. Smucker from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. boosted their target price on J. M. Smucker from $126.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $137.47.

Insiders Place Their Bets

In other J. M. Smucker news, insider Jeannette L. Knudsen sold 3,200 shares of J. M. Smucker stock in a transaction 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 of the company’s stock, valued at approximately $1,116,192.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.50% of the stock is currently owned by corporate 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.