Amundi Sells 424,919 Shares of The J. M. Smucker Company $SJM

Key Points

• Amundi reduced its J. M. Smucker stake by 45.7%, selling 424,919 shares in the first quarter and retaining 505,438 shares valued at approximately $48.7 million. Institutional investors collectively own 81.66% of the company.
• J. M. Smucker reported quarterly earnings of $2.77 per share, exceeding estimates of $2.64, while revenue rose 5.8% year over year to $2.27 billion. Analysts maintain a consensus “Hold” rating with an average price target of $121.67.
• The company increased its quarterly dividend from $1.10 to $1.12 per share, implying an annualized dividend of $4.48 and a 3.7% yield.

Amundi lessened its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 45.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 505,438 shares of the company's stock after selling 424,919 shares during the period. Amundi owned 0.47% of J. M. Smucker worth $48,744,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SJM. UBS Group AG raised its stake in shares of J. M. Smucker by 238.7% in the 4th quarter. UBS Group AG now owns 3,924,282 shares of the company's stock valued at $383,834,000 after acquiring an additional 2,765,559 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of J. M. Smucker by 6,854.4% in the third quarter. Two Sigma Investments LP now owns 1,527,962 shares of the company's stock worth $165,937,000 after buying an additional 1,505,991 shares during the last quarter. Norges Bank acquired a new position in J. M. Smucker in the 4th quarter valued at $92,960,000. Dimensional Fund Advisors LP grew its stake in J. M. Smucker by 33.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,392,300 shares of the company's stock valued at $331,807,000 after buying an additional 850,943 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in J. M. Smucker by 339.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,029,222 shares of the company's stock worth $111,156,000 after acquiring an additional 794,851 shares during the period. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Trading Up 0.3%

SJM stock opened at $119.57 on Monday. The business has a fifty day moving average price of $111.89 and a 200 day moving average price of $105.65. The J. M. Smucker Company has a fifty-two week low of $88.25 and a fifty-two week high of $127.64. The stock has a market capitalization of $12.75 billion, a price-to-earnings ratio of -91.98, a P/E/G ratio of 1.67 and a beta of 0.25. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.78 and a quick ratio of 0.33.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its earnings results on Tuesday, June 9th. The company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.64 by $0.13. The company had revenue of $2.27 billion during 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 firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $2.31 earnings per share. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. Analysts expect that The J. M. Smucker Company will post 9.95 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $4.48 annualized dividend and a yield of 3.7%. This is a positive change from J. M. Smucker's previous quarterly dividend of $1.10. J. M. Smucker's dividend payout ratio (DPR) is currently -338.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Evercore reiterated an "outperform" rating and set a $125.00 price target on shares of J. M. Smucker in a report on Thursday, July 23rd. Barclays boosted their target price on shares of J. M. Smucker from $103.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 11th. BTIG Research set a $130.00 price target on shares of J. M. Smucker in a report on Wednesday, June 10th. UBS Group raised their price target on shares of J. M. Smucker from $121.00 to $130.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Finally, Morgan Stanley increased their target price on shares of J. M. Smucker from $106.00 to $110.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 10th. Nine investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, J. M. Smucker presently has a consensus rating of "Hold" and an average target price of $121.67.

Insider Buying and Selling at J. M. Smucker

In related news, CFO Tucker H. Marshall sold 3,630 shares of the firm's stock in a transaction dated 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 owned 38,699 shares in the company, valued at $4,297,523.95. This trade represents a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jill R. Penrose sold 5,000 shares of J. M. Smucker stock in a transaction dated 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 sale, the insider owned 15,795 shares of the company's stock, valued at approximately $1,843,118.55. The trade was a 24.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 18,533 shares of company stock worth $2,132,914. Insiders own 2.80% of the company's stock.

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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