Night Squared LP Purchases New Shares in The J. M. Smucker Company $SJM

Key Points

• Night Squared LP initiated a new position in J. M. Smucker during the fourth quarter, buying 97,418 shares worth about $9.5 million. The stake represents roughly 2.7% of its portfolio and makes SJM its fourth-largest holding.
• J. M. Smucker reported better-than-expected quarterly earnings, with EPS of $2.77 topping estimates and revenue of $2.27 billion slightly above forecasts. The company also maintained FY2027 guidance of 9.75 to 10.25 EPS.
• The company recently paid a quarterly dividend of $1.10 per share, or $4.40 annualized, for a yield of about 3.8%. Meanwhile, analysts remain mixed, with the stock carrying a consensus rating of Hold and an average target price of $121.13.

Night Squared LP bought a new stake in The J. M. Smucker Company (NYSE:SJM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 97,418 shares of the company's stock, valued at approximately $9,528,000. J. M. Smucker accounts for about 2.7% of Night Squared LP's portfolio, making the stock its 4th biggest position. Night Squared LP owned about 0.09% of J. M. Smucker at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SJM. UBS Group AG raised its stake in shares of J. M. Smucker by 238.7% in the fourth 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 period. Two Sigma Investments LP raised its stake in shares of J. M. Smucker by 6,854.4% in the third quarter. Two Sigma Investments LP now owns 1,527,962 shares of the company's stock valued at $165,937,000 after acquiring an additional 1,505,991 shares during the period. National Bank of Canada FI raised its stake in shares of J. M. Smucker by 797.4% in the third quarter. National Bank of Canada FI now owns 1,401,173 shares of the company's stock valued at $152,167,000 after acquiring an additional 1,245,035 shares during the period. Capitolis Liquid Global Markets LLC purchased a new stake in shares of J. M. Smucker in the third quarter valued at $112,944,000. Finally, Norges Bank purchased a new stake in shares of J. M. Smucker in the fourth quarter valued at $92,960,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

J. M. Smucker Trading Up 0.1%

NYSE SJM opened at $116.05 on Wednesday. The company's 50-day moving average price is $100.44 and its 200-day moving average price is $102.19. 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 stock has a market cap of $12.38 billion, a PE ratio of -89.27, a PEG ratio of 1.62 and a beta of 0.27. The J. M. Smucker Company has a 12 month low of $88.25 and a 12 month high of $119.39.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations 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 prior 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 research analysts forecast that The J. M. Smucker Company will post 9.95 earnings per share for the current year.

J. M. Smucker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a $1.10 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.8%. J. M. Smucker's dividend payout ratio is presently -338.46%.

Insider Activity at J. M. Smucker

In other news, insider Jeannette L. Knudsen sold 5,550 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $116.29, for a total value of $645,409.50. Following the transaction, the insider directly owned 16,039 shares in the company, valued at approximately $1,865,175.31. This represents a 25.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.24% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. TD Cowen increased their target price 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 target price on shares of J. M. Smucker in a research note on Thursday, April 9th. Evercore assumed coverage on shares of J. M. Smucker in a research note on Friday, May 15th. They issued an "outperform" rating and a $117.00 target price on the stock. 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. Finally, UBS Group increased their target price on shares of J. M. Smucker from $121.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. Ten equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock 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.

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