Hsbc Holdings PLC Cuts Stake in The J. M. Smucker Company $SJM

Key Points

• HSBC Holdings PLC cut its J. M. Smucker stake by 24.1% in the fourth quarter, selling 51,593 shares and leaving it with 162,492 shares valued at about $15.9 million.
• J. M. Smucker reported better-than-expected quarterly results, with EPS of $2.77 versus estimates of $2.64 and revenue of $2.27 billion, up 5.8% year over year.
• The company also paid a quarterly dividend of $1.10 per share, equal to an annualized yield of 3.9%, while analysts currently have a consensus Hold rating and average price target of $121.13.

Hsbc Holdings PLC lowered its holdings in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 24.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 162,492 shares of the company's stock after selling 51,593 shares during the period. Hsbc Holdings PLC owned about 0.15% of J. M. Smucker worth $15,912,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. UBS Group AG lifted 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 during the last quarter. Dimensional Fund Advisors LP raised its holdings 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 worth $331,807,000 after purchasing an additional 850,943 shares in the last quarter. Invesco Ltd. lifted its holdings in J. M. Smucker by 5.8% in the fourth quarter. Invesco Ltd. now owns 2,783,272 shares of the company's stock worth $272,232,000 after buying an additional 151,872 shares during the period. Morgan Stanley lifted its stake in shares of J. M. Smucker by 16.8% in the 4th quarter. Morgan Stanley now owns 2,486,596 shares of the company's stock valued at $243,214,000 after purchasing an additional 357,253 shares during the period. Finally, Two Sigma Investments LP lifted its position in J. M. Smucker by 6,854.4% during the third quarter. Two Sigma Investments LP now owns 1,527,962 shares of the company's stock valued at $165,937,000 after buying an additional 1,505,991 shares during the period. 81.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Tucker H. Marshall sold 3,630 shares of the 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 sale, the chief financial officer directly owned 38,699 shares of the company's stock, valued at $4,297,523.95. This represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeannette L. Knudsen sold 5,550 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $116.29, for a total value of $645,409.50. Following the completion of the sale, the insider owned 16,039 shares of the company's stock, valued at $1,865,175.31. The trade was a 25.71% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.24% of the stock is currently owned by company insiders.

J. M. Smucker Stock Up 0.6%

J. M. Smucker stock opened at $112.30 on Friday. The J. M. Smucker Company has a 12 month low of $88.25 and a 12 month high of $119.39. The stock has a fifty day simple moving average of $103.01 and a two-hundred day simple moving average of $102.65. 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 firm has a market cap of $11.98 billion, a price-to-earnings ratio of -86.38, a PEG ratio of 1.56 and a beta of 0.27.

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

J. M. Smucker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, May 15th. J. M. Smucker's dividend payout ratio is -338.46%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SJM. BNP Paribas Exane set a $125.00 price target on J. M. Smucker in a research report on Thursday, April 9th. JPMorgan Chase & Co. boosted their target price on J. M. Smucker from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, June 10th. Sanford C. Bernstein reissued an "outperform" rating and issued a $137.00 target price on shares of J. M. Smucker in a research note on Wednesday, June 10th. Stifel Nicolaus lowered their price target on J. M. Smucker from $120.00 to $100.00 and set a "hold" rating for the company in a research report on Tuesday, April 21st. Finally, Wells Fargo & Company set a $115.00 price target on shares of J. M. Smucker in a research note on Wednesday, June 10th. Ten investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $121.13.

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.

Want to see what other hedge funds are holding SJM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The J. M. Smucker Company (NYSE:SJM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.