Bank of New York Mellon Corp Makes New Investment in The J. M. Smucker Company $SJM

Bank of New York Mellon Corp bought a new position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 916,563 shares of the company's stock, valued at approximately $103,113,000. Bank of New York Mellon Corp owned approximately 0.86% of J. M. Smucker as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC raised its holdings in J. M. Smucker by 10.2% in the 4th quarter. Golden State Wealth Management LLC now owns 991 shares of the company's stock worth $97,000 after purchasing an additional 92 shares during the period. Colonial Trust Advisors increased its position in shares of J. M. Smucker by 7.8% in the fourth quarter. Colonial Trust Advisors now owns 1,303 shares of the company's stock valued at $127,000 after buying an additional 94 shares in the last quarter. Harbour Investments Inc. increased its position in shares of J. M. Smucker by 2.1% in the fourth quarter. Harbour Investments Inc. now owns 4,652 shares of the company's stock valued at $455,000 after buying an additional 97 shares in the last quarter. Delta Asset Management LLC TN raised its stake in shares of J. M. Smucker by 7.8% during the 4th quarter. Delta Asset Management LLC TN now owns 1,378 shares of the company's stock worth $135,000 after buying an additional 100 shares during the period. Finally, New Mexico Educational Retirement Board raised its stake in shares of J. M. Smucker by 2.1% during the 4th quarter. New Mexico Educational Retirement Board now owns 4,922 shares of the company's stock worth $481,000 after buying an additional 100 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

J. M. Smucker Stock Performance

NYSE:SJM opened at $125.87 on Tuesday. The company's 50-day moving average price is $116.32 and its 200-day moving average price is $107.54. The company has a current ratio of 0.78, a quick ratio of 0.33 and a debt-to-equity ratio of 1.15. The company has a market cap of $13.43 billion, a P/E ratio of -96.82, a P/E/G ratio of 1.68 and a beta of 0.25. The J. M. Smucker Company has a twelve month low of $88.25 and a twelve month high of $127.64.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $2.77 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter in the prior year, the company earned $2.31 EPS. J. M. Smucker's revenue was up 5.8% compared to the same quarter last year. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. On average, sell-side analysts forecast that The J. M. Smucker Company will post 9.98 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.6%. This is an increase from J. M. Smucker's previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, August 14th. J. M. Smucker's dividend payout ratio is presently -344.62%.

Insiders Place Their Bets

In other news, insider Jill R. Penrose sold 5,000 shares of J. M. Smucker 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 transaction, the insider owned 15,795 shares in the company, valued at $1,843,118.55. The trade was a 24.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Tucker H. Marshall sold 3,630 shares of the business's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $111.05, for a total transaction of $403,111.50. Following the transaction, the chief financial officer directly owned 38,699 shares in the company, valued at approximately $4,297,523.95. The trade was a 8.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 18,533 shares of company stock valued at $2,132,914. Insiders own 2.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SJM shares. Barclays boosted their price target on shares of J. M. Smucker from $103.00 to $125.00 and gave the stock an "equal weight" rating in a report on Thursday, June 11th. Morgan Stanley lifted 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 report on Wednesday, June 10th. Evercore reissued an "outperform" rating and set a $125.00 target price on shares of J. M. Smucker in a research note on Thursday, July 23rd. Weiss Ratings upgraded shares of J. M. Smucker from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 23rd. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $137.00 price target on shares of J. M. Smucker in a research note on Wednesday, June 10th. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $125.53.

J. M. Smucker Company 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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