Korea Investment CORP Lowers Holdings in The J. M. Smucker Company $SJM

Korea Investment CORP trimmed its holdings in The J. M. Smucker Company (NYSE:SJM) by 53.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,722 shares of the company’s stock after selling 32,300 shares during the quarter. Korea Investment CORP’s holdings in J. M. Smucker were worth $3,011,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of J. M. Smucker during the second quarter valued at approximately $112,829,000. Engineers Gate Manager LP bought a new position in shares of J. M. Smucker during the second quarter worth $109,896,000. Assenagon Asset Management S.A. grew its stake in J. M. Smucker by 811.0% during the third quarter. Assenagon Asset Management S.A. now owns 919,139 shares of the company’s stock valued at $99,818,000 after acquiring an additional 818,245 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in J. M. Smucker by 45.4% during the second quarter. Balyasny Asset Management L.P. now owns 2,251,934 shares of the company’s stock valued at $221,140,000 after acquiring an additional 703,382 shares in the last quarter. Finally, Ilex Capital Partners UK LLP increased its holdings in J. M. Smucker by 31.0% in the 2nd quarter. Ilex Capital Partners UK LLP now owns 2,033,615 shares of the company’s stock valued at $199,701,000 after acquiring an additional 481,660 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SJM has been the subject of several research reports. TD Cowen increased their price objective on shares of J. M. Smucker from $105.00 to $112.00 and gave the company a “hold” rating in a report on Friday, February 20th. Wall Street Zen cut J. M. Smucker from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of J. M. Smucker in a research report on Wednesday, January 21st. Bank of America raised J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 price target for the company in a research note on Monday, February 23rd. Finally, JPMorgan Chase & Co. raised their price target on J. M. Smucker from $121.00 to $122.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Nine research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, J. M. Smucker currently has a consensus rating of “Hold” and an average target price of $121.14.

J. M. Smucker Stock Performance

Shares of NYSE:SJM opened at $106.11 on Friday. The firm has a fifty day simple moving average of $106.25 and a two-hundred day simple moving average of $105.33. The J. M. Smucker Company has a 52 week low of $93.30 and a 52 week high of $120.76. The company has a quick ratio of 0.35, a current ratio of 0.84 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $11.32 billion, a P/E ratio of -9.00, a PEG ratio of 4.48 and a beta of 0.22.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Thursday, February 26th. The company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.11. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the prior year, the company earned $2.61 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. On average, analysts expect that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were given a dividend of $1.10 per share. The ex-dividend date was Friday, February 13th. This represents a $4.40 dividend on an annualized basis and a yield of 4.1%. J. M. Smucker’s dividend payout ratio is -37.32%.

J. M. Smucker Company Profile

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company’s main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker’s core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker’s® fruit spreads, Jif® peanut butter, Folgers® and Dunkin’® coffees, and Café Bustelo® coffee.