MQS Management LLC bought a new stake in The J. M. Smucker Company (NYSE:SJM – Free Report) during the first quarter, HoldingsChannel.com reports. The firm bought 5,253 shares of the company’s stock, valued at approximately $507,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in J. M. Smucker by 10.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,440 shares of the company’s stock valued at $2,286,000 after acquiring an additional 1,763 shares during the last quarter. United Services Automobile Association bought a new position in shares of J. M. Smucker in the first quarter worth about $253,000. Empowered Funds LLC boosted its stake in shares of J. M. Smucker by 28.6% in the 1st quarter. Empowered Funds LLC now owns 12,992 shares of the company’s stock valued at $1,538,000 after purchasing an additional 2,889 shares in the last quarter. Woodline Partners LP boosted its stake in shares of J. M. Smucker by 40.7% in the 1st quarter. Woodline Partners LP now owns 8,990 shares of the company’s stock valued at $1,065,000 after purchasing an additional 2,600 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of J. M. Smucker by 6.7% during the 2nd quarter. American Century Companies Inc. now owns 2,209 shares of the company’s stock valued at $217,000 after purchasing an additional 138 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.
Insider Activity at J. M. Smucker
In other news, insider Jill R. Penrose sold 5,000 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $116.69, for a total value of $583,450.00. Following the sale, the insider directly owned 15,795 shares of the company’s stock, valued at approximately $1,843,118.55. This represents a 24.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Tucker H. Marshall sold 3,630 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $111.05, for a total transaction of $403,111.50. Following the sale, the chief financial officer owned 38,699 shares of the company’s stock, valued at approximately $4,297,523.95. This trade represents a 8.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,533 shares of company stock worth $2,132,914 over the last ninety days. Insiders own 2.24% of the company’s stock.
J. M. Smucker Stock Down 2.8%
J. M. Smucker (NYSE:SJM – Get Free Report) last released its quarterly earnings results on Tuesday, June 9th. The company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.13. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. J. M. Smucker had a positive return on equity of 17.18% and a negative net margin of 1.53%.The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.31 EPS. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. Analysts predict that The J. M. Smucker Company will post 9.96 earnings per share for the current year.
J. M. Smucker Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a $1.10 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.40 annualized dividend and a yield of 3.9%. J. M. Smucker’s dividend payout ratio is presently -338.46%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. Sanford C. Bernstein reiterated an “outperform” rating and set a $137.00 price objective on shares of J. M. Smucker in a research report on Wednesday, June 10th. Evercore started coverage on shares of J. M. Smucker in a research note on Friday, May 15th. They set an “outperform” rating and a $117.00 target price on the stock. UBS Group raised their price objective on J. M. Smucker from $121.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Wall Street Zen upgraded J. M. Smucker from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Finally, TD Cowen boosted their price objective on J. M. Smucker from $103.00 to $115.00 and gave the stock a “hold” rating in a research report on Wednesday, June 10th. Ten investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, J. M. Smucker has a consensus rating of “Hold” and an average price target of $121.13.
Get Our Latest Analysis on J. M. Smucker
About J. M. Smucker
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.
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