Nordea Investment Management AB Sells 143,246 Shares of The J. M. Smucker Company $SJM

Key Points

• Nordea Investment Management AB reduced its stake in The J. M. Smucker Company by 7.3%, selling 143,246 shares, and currently holds 1.72% of the company, valued at approximately $178.5 million.
• Several institutional investors, including Janney Montgomery Scott LLC and Palumbo Wealth Management LLC, increased their holdings in J. M. Smucker during the first quarter of 2023.
• Analysts have mixed ratings on J. M. Smucker, with one Strong Buy, eight Buy, and a recent downgrade from Argus from a "buy" to a "hold" rating.

Nordea Investment Management AB lessened its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 7.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,829,767 shares of the company's stock after selling 143,246 shares during the period. Nordea Investment Management AB owned 1.72% of J. M. Smucker worth $178,494,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in shares of J. M. Smucker by 4.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 110,547 shares of the company's stock valued at $13,090,000 after acquiring an additional 5,039 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of J. M. Smucker by 1.6% in the 1st quarter. State of Alaska Department of Revenue now owns 20,968 shares of the company's stock valued at $2,482,000 after acquiring an additional 335 shares during the last quarter. Clark & Stuart Inc lifted its holdings in shares of J. M. Smucker by 4.0% in the 1st quarter. Clark & Stuart Inc now owns 72,434 shares of the company's stock valued at $8,577,000 after acquiring an additional 2,811 shares during the last quarter. Westhampton Capital LLC lifted its holdings in shares of J. M. Smucker by 16.3% in the 1st quarter. Westhampton Capital LLC now owns 7,843 shares of the company's stock valued at $929,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Palumbo Wealth Management LLC lifted its holdings in shares of J. M. Smucker by 68.2% in the 1st quarter. Palumbo Wealth Management LLC now owns 19,210 shares of the company's stock valued at $2,275,000 after acquiring an additional 7,790 shares during the last quarter. Institutional investors own 81.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SJM shares. Argus downgraded shares of J. M. Smucker from a "buy" rating to a "hold" rating in a report on Friday, September 12th. Royal Bank Of Canada started coverage on shares of J. M. Smucker in a research report on Monday, July 7th. They issued an "outperform" rating and a $130.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of J. M. Smucker from $115.00 to $120.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Morgan Stanley increased their price objective 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. Finally, Cfra Research raised shares of J. M. Smucker from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $118.00.

Insider Activity at J. M. Smucker

In other news, CFO Tucker H. Marshall sold 11,139 shares of the firm's stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $108.11, for a total transaction of $1,204,237.29. Following the transaction, the chief financial officer directly owned 33,864 shares of the company's stock, valued at approximately $3,661,037.04. This trade represents a 24.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.24% of the company's stock.

J. M. Smucker Stock Performance

Shares of NYSE:SJM opened at $105.39 on Friday. The firm has a market cap of $11.24 billion, a PE ratio of -7.69, a price-to-earnings-growth ratio of 7.17 and a beta of 0.25. The firm's 50 day simple moving average is $108.66 and its 200-day simple moving average is $108.87. The J. M. Smucker Company has a one year low of $93.30 and a one year high of $125.42. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.34 and a current ratio of 0.81.

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 analysts' consensus estimates 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%.The business's revenue was down .6% compared to the same quarter last year. During the same period last year, the business posted $2.44 earnings per share. J. M. Smucker has set its FY 2026 guidance at 8.500-9.500 EPS. As a group, equities analysts predict that The J. M. Smucker Company will post 9.88 EPS for the current year.

About J. M. Smucker

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.

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