Pictet Asset Management Holding SA Decreases Stock Position in The J. M. Smucker Company $SJM

Key Points

• Pictet Asset Management cut its stake in J. M. Smucker by 72.5% in the first quarter, selling 56,618 shares and leaving it with 21,432 shares valued at about $2.07 million.
• Institutional ownership remains heavy, with 81.66% of Smucker shares held by hedge funds and other institutional investors. Several firms, including UBS Group and Norges Bank, made large purchases during recent periods.
• Analysts are mixed but generally cautious: the stock has a consensus Hold rating and average price target of $121.13, while recent quarterly results beat EPS and revenue expectations and the company continues paying a $1.10 quarterly dividend.

Pictet Asset Management Holding SA lessened its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 72.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,432 shares of the company's stock after selling 56,618 shares during the period. Pictet Asset Management Holding SA's holdings in J. M. Smucker were worth $2,067,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. UBS Group AG increased its stake in J. M. Smucker by 238.7% in the 4th quarter. UBS Group AG now owns 3,924,282 shares of the company's stock worth $383,834,000 after purchasing an additional 2,765,559 shares during the period. Two Sigma Investments LP lifted its position in shares of J. M. Smucker by 6,854.4% in the 3rd quarter. Two Sigma Investments LP now owns 1,527,962 shares of the company's stock worth $165,937,000 after purchasing an additional 1,505,991 shares during the period. National Bank of Canada FI boosted its stake in shares of J. M. Smucker by 797.4% during the 3rd quarter. National Bank of Canada FI now owns 1,401,173 shares of the company's stock valued at $152,167,000 after purchasing an additional 1,245,035 shares in the last quarter. Capitolis Liquid Global Markets LLC bought a new stake in shares of J. M. Smucker during the 3rd quarter valued at about $112,944,000. Finally, Norges Bank purchased a new position in shares of J. M. Smucker during the fourth quarter valued at about $92,960,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on SJM. Evercore began coverage on shares of J. M. Smucker in a report on Friday, May 15th. They issued an "outperform" rating and a $117.00 price objective for the company. Bank of America upped their target price on J. M. Smucker from $130.00 to $132.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. JPMorgan Chase & Co. increased their target price on J. M. Smucker from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 10th. Sanford C. Bernstein restated 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, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $95.00 price target on shares of J. M. Smucker in a research report on Wednesday, May 20th. Ten research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $121.13.

Insider Transactions at J. M. Smucker

In related news, CFO Tucker H. Marshall sold 3,630 shares of the company's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $111.05, for a total value of $403,111.50. Following the transaction, the chief financial officer owned 38,699 shares in the company, valued at $4,297,523.95. The trade was a 8.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jill R. Penrose sold 5,000 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $116.69, for a total transaction of $583,450.00. Following the sale, the insider directly owned 15,795 shares in the company, valued at $1,843,118.55. This trade represents a 24.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 18,533 shares of company stock valued at $2,132,914. Insiders own 2.80% of the company's stock.

J. M. Smucker Price Performance

Shares of NYSE SJM opened at $116.32 on Monday. The J. M. Smucker Company has a fifty-two week low of $88.25 and a fifty-two week high of $119.39. The company has a 50 day simple moving average of $105.45 and a two-hundred day simple moving average of $103.27. The company has a market capitalization of $12.41 billion, a price-to-earnings ratio of -89.48, a P/E/G ratio of 1.62 and a beta of 0.26. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.33 and a current ratio of 0.78.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued 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 positive return on equity of 17.18% and a negative net margin of 1.53%.The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.31 EPS. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. Analysts expect 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 announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Friday, May 15th. J. M. Smucker's payout ratio is -338.46%.

J. M. Smucker 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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