Bank of America Corp DE Buys 43,043 Shares of The J. M. Smucker Company $SJM

Key Points

• Bank of America increased its J. M. Smucker stake by 5.9% in the first quarter, adding 43,043 shares to own 767,336 shares valued at approximately $74 million. Institutional investors collectively hold 81.66% of SJM’s outstanding stock.
• J. M. Smucker exceeded quarterly expectations with adjusted EPS of $2.77 versus the $2.64 consensus and revenue of $2.27 billion, up 5.8% year over year. The company issued fiscal 2027 EPS guidance of $9.75 to $10.25.
• The company raised its quarterly dividend to $1.12 per share, equivalent to an annualized $4.48 dividend and a 3.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $121.67.

Bank of America Corp DE lifted its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 5.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 767,336 shares of the company's stock after acquiring an additional 43,043 shares during the period. Bank of America Corp DE owned 0.72% of J. M. Smucker worth $74,002,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in J. M. Smucker by 4.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 271,304 shares of the company's stock valued at $26,216,000 after purchasing an additional 12,220 shares during the period. Hudson Edge Investment Partners Inc. increased its stake in J. M. Smucker by 20.9% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 72,437 shares of the company's stock valued at $7,085,000 after purchasing an additional 12,540 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in J. M. Smucker by 130.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 184,104 shares of the company's stock worth $18,007,000 after buying an additional 104,299 shares during the last quarter. Swedbank AB raised its holdings in J. M. Smucker by 17.8% during the fourth quarter. Swedbank AB now owns 180,595 shares of the company's stock worth $17,664,000 after buying an additional 27,272 shares during the last quarter. Finally, TABR Capital Management LLC bought a new position in shares of J. M. Smucker in the fourth quarter valued at $2,616,000. 81.66% of the stock is owned by institutional investors.

J. M. Smucker Stock Performance

Shares of SJM stock opened at $120.13 on Monday. 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 firm has a 50-day moving average of $113.46 and a 200-day moving average of $106.22. The J. M. Smucker Company has a one year low of $88.25 and a one year high of $127.64. The company has a market cap of $12.81 billion, a P/E ratio of -92.41, a P/E/G ratio of 1.68 and a beta of 0.25.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.64 by $0.13. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. J. M. Smucker had a negative net margin of 1.53% and a positive return on equity of 17.18%. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.31 EPS. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. Equities research analysts forecast that The J. M. Smucker Company will post 9.95 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a $1.12 dividend. This is an increase from J. M. Smucker's previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, August 14th. J. M. Smucker's payout ratio is presently -338.46%.

Insider Buying and Selling at J. M. Smucker

In other news, insider Jill R. Penrose sold 5,000 shares of the firm's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $116.69, for a total transaction of $583,450.00. Following the completion of the sale, the insider directly owned 15,795 shares of the company's stock, valued at $1,843,118.55. This trade represents a 24.04% decrease in their position. The sale 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 J. M. Smucker 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 sale, the chief financial officer owned 38,699 shares in the company, valued at $4,297,523.95. The trade was a 8.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,533 shares of company stock worth $2,132,914 in the last quarter. 2.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of J. M. Smucker from $103.00 to $115.00 and gave the company a "hold" rating in a report on Wednesday, June 10th. Evercore reaffirmed an "outperform" rating and issued a $125.00 price target on shares of J. M. Smucker in a research report on Thursday, July 23rd. UBS Group lifted their price target on J. M. Smucker from $121.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. JPMorgan Chase & Co. boosted their price objective on J. M. Smucker from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, June 10th. Finally, Morgan Stanley increased their price objective on J. M. Smucker from $106.00 to $110.00 and gave the stock 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 given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $121.67.

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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