Meyer Handelman Co. Sells 9,862 Shares of The J. M. Smucker Company $SJM

Key Points

• Meyer Handelman Co. cut its J. M. Smucker stake by 70.6% in the first quarter, selling 9,862 shares and leaving it with 4,111 shares valued at about $396,000.
• Analyst sentiment is mixed but mostly cautious: the stock has a consensus rating of Hold with a consensus price target of $121.13, even after several firms raised their targets.
• J. M. Smucker beat quarterly expectations, reporting EPS of $2.77 versus $2.64 expected and revenue of $2.27 billion, while also maintaining a quarterly dividend of $1.10 per share for a 3.8% yield.

Meyer Handelman Co. lessened its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 70.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,111 shares of the company's stock after selling 9,862 shares during the quarter. Meyer Handelman Co.'s holdings in J. M. Smucker were worth $396,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Garton & Associates Financial Advisors LLC acquired a new stake in J. M. Smucker in the fourth quarter valued at about $25,000. CYBER HORNET ETFs LLC acquired a new position in J. M. Smucker during the second quarter worth about $27,000. Fideuram Asset Management Ireland dac acquired a new position in J. M. Smucker during the fourth quarter worth about $32,000. MCF Advisors LLC lifted its holdings in shares of J. M. Smucker by 68.1% in the fourth quarter. MCF Advisors LLC now owns 311 shares of the company's stock worth $30,000 after acquiring an additional 126 shares during the last quarter. Finally, MUFG Securities EMEA plc acquired a new stake in shares of J. M. Smucker in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 81.66% of the company's stock.

Analyst Ratings Changes

SJM has been the subject of several research reports. TD Cowen increased their price objective on shares of J. M. Smucker from $103.00 to $115.00 and gave the company a "hold" rating in a research note on Wednesday, June 10th. BNP Paribas Exane set a $125.00 price target on J. M. Smucker in a research note on Thursday, April 9th. Royal Bank Of Canada raised their price objective on J. M. Smucker from $130.00 to $135.00 and gave the company an "outperform" rating in a report on Wednesday, June 10th. Barclays boosted their price objective on J. M. Smucker from $103.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 11th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $137.00 target price on shares of J. M. Smucker in a research report on Wednesday, June 10th. Ten analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $121.13.

J. M. Smucker Stock Performance

Shares of J. M. Smucker stock opened at $115.55 on Friday. 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 business has a 50-day moving average price of $103.45 and a two-hundred day moving average price of $102.74. The J. M. Smucker Company has a 1-year low of $88.25 and a 1-year high of $119.39. The company has a market cap of $12.32 billion, a P/E ratio of -88.88, a PEG ratio of 1.57 and a beta of 0.27.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its earnings results on Tuesday, June 9th. The company reported $2.77 EPS 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 company earned $2.31 EPS. The firm's revenue for the quarter 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. As a group, analysts anticipate that The J. M. Smucker Company will post 9.95 EPS for the current 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 given a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.40 annualized dividend and a dividend yield of 3.8%. J. M. Smucker's dividend payout ratio (DPR) is -338.46%.

Insider Activity at J. M. Smucker

In related news, insider Jeannette L. Knudsen sold 5,550 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $116.29, for a total transaction of $645,409.50. Following the transaction, the insider directly owned 16,039 shares of the company's stock, valued at $1,865,175.31. This represents a 25.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tucker H. Marshall sold 3,630 shares of the firm's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $111.05, for a total transaction of $403,111.50. Following the completion of the sale, the chief financial officer owned 38,699 shares of the company's stock, valued at $4,297,523.95. The trade was a 8.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.24% of the company's stock.

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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