Corebridge Financial Inc. Cuts Stake in The J. M. Smucker Company $SJM

Key Points

• Corebridge Financial Inc. reduced its holdings in The J. M. Smucker Company by 9.4%, owning 24,429 shares after selling 2,543 shares, valued at approximately $2.89 million.
• Recent insider activity includes Director Tarang Amin purchasing 1,050 shares at $96.09 each, increasing their total ownership by 37.84%.
• J. M. Smucker declared a quarterly dividend increase to $1.10, with an annual yield of 4.0%, reflecting a boost from the previous dividend of $1.08.

Corebridge Financial Inc. cut its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 9.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,429 shares of the company's stock after selling 2,543 shares during the period. Corebridge Financial Inc.'s holdings in J. M. Smucker were worth $2,893,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of SJM. Minot DeBlois Advisors LLC purchased a new position in shares of J. M. Smucker in the 4th quarter valued at about $28,000. N.E.W. Advisory Services LLC purchased a new position in J. M. Smucker in the first quarter valued at approximately $30,000. Cooksen Wealth LLC purchased a new position in J. M. Smucker in the first quarter valued at approximately $33,000. Measured Risk Portfolios Inc. purchased a new position in J. M. Smucker in the fourth quarter valued at approximately $29,000. Finally, National Pension Service increased its stake in J. M. Smucker by 74.9% in the first quarter. National Pension Service now owns 383 shares of the company's stock valued at $45,000 after purchasing an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.

Insider Activity

In other news, Director Tarang Amin acquired 1,050 shares of J. M. Smucker stock in a transaction that occurred on Thursday, June 12th. The shares were acquired at an average price of $96.09 per share, with a total value of $100,894.50. Following the completion of the purchase, the director owned 3,825 shares of the company's stock, valued at approximately $367,544.25. This represents a 37.84% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.24% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SJM has been the topic of several research reports. Bank of America dropped their price objective on J. M. Smucker from $120.00 to $118.00 and set a "neutral" rating on the stock in a report on Thursday, August 28th. UBS Group dropped their price target on J. M. Smucker from $130.00 to $121.00 and set a "buy" rating on the stock in a research note on Thursday, August 28th. Morgan Stanley raised their target price on shares of J. M. Smucker from $115.00 to $118.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Royal Bank Of Canada initiated coverage on shares of J. M. Smucker in a research report on Monday, July 7th. They set an "outperform" rating and a $130.00 target price on the stock. Finally, Citigroup lowered their price objective on shares of J. M. Smucker from $128.00 to $118.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $118.00.

J. M. Smucker Price Performance

Shares of J. M. Smucker stock traded up $0.16 during trading on Thursday, reaching $112.21. The company's stock had a trading volume of 1,495,175 shares, compared to its average volume of 1,657,515. The company has a quick ratio of 0.35, a current ratio of 0.81 and a debt-to-equity ratio of 1.19. The J. M. Smucker Company has a 12-month low of $93.30 and a 12-month high of $125.42. The company has a market capitalization of $11.97 billion, a P/E ratio of -8.18, a price-to-earnings-growth ratio of 7.65 and a beta of 0.27. The business has a 50 day moving average price of $107.83 and a 200-day moving average price of $109.73.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its earnings results on Wednesday, August 27th. The company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.05). The company had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.09 billion. J. M. Smucker had a positive return on equity of 15.41% and a negative net margin of 16.75%.J. M. Smucker's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.44 earnings per share. J. M. Smucker has set its FY 2026 guidance at 8.500-9.500 EPS. As a group, sell-side analysts anticipate that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were given a $1.10 dividend. This is an increase from J. M. Smucker's previous quarterly dividend of $1.08. This represents a $4.40 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, August 15th. J. M. Smucker's dividend payout ratio (DPR) is currently -32.09%.

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.