Adage Capital Partners GP L.L.C. Lowers Stock Position in The J. M. Smucker Company $SJM

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in The J.M. Smucker Company by 2.3%, holding 97,127 shares valued at approximately $11.5 million at the end of the last quarter.
• Multiple hedge funds, including Wallace Capital Management and Tortoise Investment Management, have also increased their stakes in J.M. Smucker, indicating strong institutional interest.
• J.M. Smucker announced a quarterly dividend of $1.10 per share, representing an annualized yield of 3.9%, an increase from the previous dividend of $1.08.

Adage Capital Partners GP L.L.C. lowered its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 2.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 97,127 shares of the company's stock after selling 2,300 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.09% of J. M. Smucker worth $11,501,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tortoise Investment Management LLC grew its holdings in shares of J. M. Smucker by 87.0% in the first quarter. Tortoise Investment Management LLC now owns 215 shares of the company's stock valued at $25,000 after purchasing an additional 100 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new position in shares of J. M. Smucker in the fourth quarter valued at approximately $28,000. Measured Risk Portfolios Inc. acquired a new position in shares of J. M. Smucker in the fourth quarter valued at approximately $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of J. M. Smucker in the first quarter valued at approximately $30,000. Finally, Cooksen Wealth LLC acquired a new position in shares of J. M. Smucker in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 81.66% of the company's stock.

J. M. Smucker Stock Down 0.8%

SJM stock traded down $0.86 during midday trading on Wednesday, reaching $109.99. 1,009,480 shares of the company were exchanged, compared to its average volume of 1,649,328. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.34 and a current ratio of 0.81. The J. M. Smucker Company has a 1-year low of $93.30 and a 1-year high of $125.42. The stock's 50-day simple moving average is $108.91 and its 200 day simple moving average is $109.96. The company has a market cap of $11.73 billion, a price-to-earnings ratio of -8.02, a price-to-earnings-growth ratio of 7.70 and a beta of 0.27.

J. M. Smucker (NYSE:SJM - Get Free Report) last released its quarterly earnings data on Wednesday, August 27th. The company reported $1.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.05). J. M. Smucker had a positive return on equity of 15.41% and a negative net margin of 16.75%.The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the business posted $2.44 EPS. The firm's revenue for the quarter was down .6% compared to the same quarter last year. J. M. Smucker has set its FY 2026 guidance at 8.500-9.500 EPS. On average, equities analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from J. M. Smucker's previous quarterly dividend of $1.08. The ex-dividend date was Friday, August 15th. J. M. Smucker's payout ratio is -32.09%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays reiterated an "equal weight" rating and issued a $105.00 price target on shares of J. M. Smucker in a research note on Friday, August 29th. BNP Paribas upgraded shares of J. M. Smucker from a "strong sell" rating to a "strong-buy" rating in a research note on Wednesday, July 9th. Morgan Stanley lifted their price target on shares of J. M. Smucker from $115.00 to $118.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Stifel Nicolaus lifted their price target on shares of J. M. Smucker from $106.00 to $110.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. Finally, UBS Group decreased their price target on shares of J. M. Smucker from $130.00 to $121.00 and set a "buy" rating for the company in a research note on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $118.00.

Insider Activity

In other J. M. Smucker news, Director Tarang Amin bought 1,050 shares of the stock in a transaction dated Thursday, June 12th. The shares were acquired at an average cost of $96.09 per share, for a total transaction of $100,894.50. Following the completion of the transaction, the director owned 3,825 shares in the company, valued at approximately $367,544.25. The trade was a 37.84% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.24% of the company's stock.

J. M. Smucker Profile

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.