California Public Employees Retirement System Sells 34,106 Shares of The J. M. Smucker Company $SJM

California Public Employees Retirement System cut its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 12.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,110 shares of the company's stock after selling 34,106 shares during the period. California Public Employees Retirement System owned 0.22% of J. M. Smucker worth $22,963,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in J. M. Smucker by 10.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,440 shares of the company's stock valued at $2,286,000 after acquiring an additional 1,763 shares during the last quarter. United Services Automobile Association purchased a new stake in J. M. Smucker in the 1st quarter worth $253,000. Empowered Funds LLC boosted its holdings in shares of J. M. Smucker by 28.6% during the 1st quarter. Empowered Funds LLC now owns 12,992 shares of the company's stock valued at $1,538,000 after purchasing an additional 2,889 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of J. M. Smucker by 40.7% during the 1st quarter. Woodline Partners LP now owns 8,990 shares of the company's stock valued at $1,065,000 after purchasing an additional 2,600 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of J. M. Smucker by 6.7% during the second quarter. American Century Companies Inc. now owns 2,209 shares of the company's stock valued at $217,000 after purchasing an additional 138 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on SJM. Bank of America lifted their target price on J. M. Smucker from $130.00 to $132.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. UBS Group increased 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. Wall Street Zen upgraded J. M. Smucker from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $95.00 price objective on shares of J. M. Smucker in a research note on Wednesday, May 20th. Finally, Weiss Ratings raised J. M. Smucker from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, June 11th. Nine investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, J. M. Smucker currently has an average rating of "Hold" and a consensus target price of $121.13.

J. M. Smucker Trading Up 1.9%

Shares of SJM stock opened at $117.94 on Thursday. The company has a market cap of $12.58 billion, a PE ratio of -90.72, a price-to-earnings-growth ratio of 1.62 and a beta of 0.26. The J. M. Smucker Company has a 1 year low of $88.25 and a 1 year high of $119.39. The stock's 50 day simple moving average is $109.21 and its two-hundred day simple moving average is $104.48. 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 released its quarterly earnings results on Tuesday, June 9th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.13. J. M. Smucker had a positive return on equity of 17.18% and a negative net margin of 1.53%.The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the firm posted $2.31 EPS. J. M. Smucker's quarterly 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. Research analysts predict that The J. M. Smucker Company will post 9.95 earnings per share for the current 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 paid a $1.12 dividend. The ex-dividend date of this dividend is Friday, August 14th. 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 3.8%. J. M. Smucker's payout ratio is -338.46%.

Insider Buying and Selling at J. M. Smucker

In related news, insider Jeannette L. Knudsen sold 5,550 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $116.29, for a total transaction of $645,409.50. Following the completion of the sale, the insider directly owned 16,039 shares of the company's stock, valued at approximately $1,865,175.31. This trade represents a 25.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Tucker H. Marshall sold 3,630 shares of the company's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $111.05, for a total value of $403,111.50. Following the completion of the transaction, the chief financial officer directly owned 38,699 shares in the company, valued at $4,297,523.95. This trade represents a 8.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,533 shares of company stock worth $2,132,914 over the last 90 days. Company insiders own 2.80% of the company's stock.

J. M. Smucker 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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