Sumitomo Mitsui Trust Group Inc. trimmed its position in The J. M. Smucker Company (NYSE:SJM – Free Report) by 19.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,713 shares of the company’s stock after selling 10,660 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in J. M. Smucker were worth $5,198,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in J. M. Smucker by 15.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,920,718 shares of the company’s stock valued at $378,102,000 after buying an additional 528,418 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in J. M. Smucker in the second quarter valued at approximately $103,113,000. Bank of America Corp DE increased its stake in J. M. Smucker by 5.9% in the first quarter. Bank of America Corp DE now owns 767,336 shares of the company’s stock valued at $74,002,000 after purchasing an additional 43,043 shares during the last quarter. Bessemer Group Inc. raised its holdings in J. M. Smucker by 22,662.1% during the first quarter. Bessemer Group Inc. now owns 726,112 shares of the company’s stock worth $70,025,000 after purchasing an additional 722,922 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in J. M. Smucker by 16.6% during the first quarter. First Trust Advisors LP now owns 657,159 shares of the company’s stock worth $63,376,000 after purchasing an additional 93,657 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.
J. M. Smucker Stock Performance
Shares of J. M. Smucker stock traded down $2.74 on Friday, reaching $130.51. 1,576,635 shares of the stock were exchanged, compared to its average volume of 1,094,281. The firm has a market capitalization of $13.94 billion, a PE ratio of 60.99, a PEG ratio of 1.77 and a beta of 0.26. The business has a fifty day moving average price of $124.56 and a two-hundred day moving average price of $111.94. The J. M. Smucker Company has a 1-year low of $88.25 and a 1-year high of $136.22. The company has a current ratio of 0.87, a quick ratio of 0.35 and a debt-to-equity ratio of 1.11.
J. M. Smucker (NYSE:SJM – Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $3.24 EPS for the quarter, beating the consensus estimate of $2.22 by $1.02. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.13 billion. J. M. Smucker had a return on equity of 19.85% and a net margin of 2.51%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $1.90 EPS. J. M. Smucker has set its FY 2027 guidance at 10.500-11.000 EPS. As a group, research analysts anticipate that The J. M. Smucker Company will post 10.71 earnings per share for the current fiscal year.
J. M. Smucker Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, November 13th. J. M. Smucker’s dividend payout ratio (DPR) is presently 209.35%.
Wall Street Analyst Weigh In
SJM has been the subject of several research analyst reports. TD Cowen upped their target price on shares of J. M. Smucker from $123.00 to $136.00 and gave the company a “hold” rating in a report on Thursday, August 27th. HC Wainwright set a $123.00 target price on shares of J. M. Smucker in a research report on Wednesday, August 19th. BTIG Research reiterated a “buy” rating on shares of J. M. Smucker in a research note on Wednesday, August 26th. Stifel Nicolaus set a $132.00 price target on shares of J. M. Smucker in a research report on Thursday, August 27th. Finally, UBS Group upped their price objective on shares of J. M. Smucker from $130.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, J. M. Smucker presently has a consensus rating of “Moderate Buy” and an average target price of $136.00.
Insider Buying and Selling at J. M. Smucker
In related news, insider Robert D. Ferguson sold 2,522 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $132.41, for a total value of $333,938.02. Following the sale, the insider directly owned 36,295 shares in the company, valued at $4,805,820.95. The trade was a 6.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Tucker H. Marshall sold 18,482 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $132.05, for a total transaction of $2,440,548.10. Following the completion of the sale, the chief financial officer owned 38,699 shares in the company, valued at $5,110,202.95. This represents a 32.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.80% of the company’s stock.
About J. M. Smucker
The J. M. Smucker Company, founded in 1897 by Jerome Monroe Smucker in Orrville, Ohio, is a food and beverage company serving consumers primarily in the United States and Canada. The company sells branded products through grocery retailers, club stores, e-commerce channels, foodservice distributors and other outlets.
Its portfolio includes coffee brands such as Folgers, Dunkin’ and Café Bustelo; fruit spreads and toppings sold under the Smucker’s name; and peanut butter and related products under the Jif brand.
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