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

Tokio Marine Asset Management Co. Ltd. lessened its holdings in The J. M. Smucker Company (NYSE:SJM) by 22.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,419 shares of the company’s stock after selling 1,600 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in J. M. Smucker were worth $656,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Studio Investment Management LLC acquired a new stake in J. M. Smucker in the second quarter valued at approximately $26,000. Venturi Wealth Management LLC grew its stake in J. M. Smucker by 1,329.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after acquiring an additional 226 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in J. M. Smucker in the 3rd quarter worth $39,000. Quarry LP raised its position in J. M. Smucker by 212.6% during the second quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after acquiring an additional 219 shares during the period. Finally, Eastern Bank acquired a new position in J. M. Smucker during the third quarter worth $40,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SJM shares. Citigroup cut their target price on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Bank of America reduced their price objective on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Wells Fargo & Company reduced their target price on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. Finally, BNP Paribas upgraded shares of J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, J. M. Smucker presently has an average rating of “Hold” and a consensus target price of $127.09.

J. M. Smucker Stock Down 2.5 %

Shares of NYSE SJM opened at $106.92 on Friday. The company has a market capitalization of $11.38 billion, a P/E ratio of 15.12, a P/E/G ratio of 3.17 and a beta of 0.25. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The company has a 50 day simple moving average of $117.25 and a 200-day simple moving average of $115.56. The J. M. Smucker Company has a 1 year low of $105.69 and a 1 year high of $134.62.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.27. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the firm earned $2.21 earnings per share. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, equities research analysts predict that The J. M. Smucker Company will post 9.8 earnings per share for the current year.

J. M. Smucker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a $1.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a yield of 4.04%. J. M. Smucker’s payout ratio is currently 61.10%.

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.