Commerzbank Aktiengesellschaft FI lowered its holdings in shares of The J. M. Smucker Company (NYSE:SJM – Free Report) by 61.1% in the first quarter, HoldingsChannel.com reports. The fund owned 31,646 shares of the company’s stock after selling 49,752 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in J. M. Smucker were worth $3,052,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. UBS Group AG grew its position in shares of J. M. Smucker by 238.7% in the fourth quarter. UBS Group AG now owns 3,924,282 shares of the company’s stock valued at $383,834,000 after purchasing an additional 2,765,559 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of J. M. Smucker by 15.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,920,718 shares of the company’s stock worth $378,102,000 after purchasing an additional 528,418 shares in the last quarter. Invesco Ltd. raised its position in shares of J. M. Smucker by 5.8% during the 4th quarter. Invesco Ltd. now owns 2,783,272 shares of the company’s stock worth $272,232,000 after purchasing an additional 151,872 shares during the last quarter. Morgan Stanley raised its position in shares of J. M. Smucker by 16.8% during the 4th quarter. Morgan Stanley now owns 2,486,596 shares of the company’s stock worth $243,214,000 after purchasing an additional 357,253 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in J. M. Smucker by 6,854.4% in the 3rd quarter. Two Sigma Investments LP now owns 1,527,962 shares of the company’s stock valued at $165,937,000 after buying an additional 1,505,991 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.
Analysts Set New Price Targets
SJM has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $95.00 target price on shares of J. M. Smucker in a report on Wednesday, May 20th. BTIG Research set a $130.00 price target on J. M. Smucker in a report on Wednesday, June 10th. JPMorgan Chase & Co. upped their price objective on J. M. Smucker from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. Barclays increased their price objective on J. M. Smucker from $103.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, June 11th. Finally, Stifel Nicolaus dropped their price objective on J. M. Smucker from $120.00 to $100.00 and set a “hold” rating for the company in a research report on Tuesday, April 21st. Nine analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $121.13.
J. M. Smucker Trading Up 2.8%
NYSE SJM opened at $115.63 on Wednesday. The company has a market cap of $12.33 billion, a P/E ratio of -88.95, a P/E/G ratio of 1.57 and a beta of 0.26. The J. M. Smucker Company has a 12 month low of $88.25 and a 12 month high of $119.39. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.78 and a quick ratio of 0.33. The company has a 50-day moving average of $108.86 and a 200-day moving average of $104.34.
J. M. Smucker (NYSE:SJM – Get Free Report) last released its earnings results on Tuesday, June 9th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.13. J. M. Smucker had a negative net margin of 1.53% and a positive return on equity of 17.18%. The business had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the company earned $2.31 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. As a group, equities analysts predict that The J. M. Smucker Company will post 9.95 earnings per share for the current year.
J. M. Smucker Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a $1.12 dividend. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, August 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.9%. J. M. Smucker’s dividend payout ratio (DPR) is -344.62%.
Insider Activity
In related news, 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 value of $403,111.50. Following the transaction, the chief financial officer directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jill R. Penrose sold 5,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $116.69, for a total value of $583,450.00. Following the completion of the transaction, the insider directly owned 15,795 shares in the company, valued at $1,843,118.55. This trade represents a 24.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 18,533 shares of company stock valued at $2,132,914 in the last ninety days. Company insiders own 2.80% of the company’s stock.
J. M. Smucker 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.
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