Public Employees Retirement System of Ohio Invests $3.35 Million in The J. M. Smucker Company $SJM

Key Points

• Public Employees Retirement System of Ohio purchased 29,787 shares of J. M. Smucker valued at approximately $3.35 million. Institutional investors and hedge funds collectively own 81.66% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $136.25; several firms recently raised their targets as high as $157.
• J. M. Smucker exceeded quarterly expectations with adjusted earnings of $3.24 per share and revenue of $2.22 billion, while increasing its quarterly dividend to $1.12, or $4.48 annually.

Public Employees Retirement System of Ohio bought a new stake in The J. M. Smucker Company (NYSE:SJM - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 29,787 shares of the company's stock, valued at approximately $3,351,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in J. M. Smucker by 10.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,440 shares of the company's stock valued at $2,286,000 after purchasing an additional 1,763 shares during the period. United Services Automobile Association acquired a new position in J. M. Smucker during the 1st quarter worth approximately $253,000. Empowered Funds LLC increased its position in J. M. Smucker by 28.6% during the 1st quarter. Empowered Funds LLC now owns 12,992 shares of the company's stock worth $1,538,000 after purchasing an additional 2,889 shares during the period. Woodline Partners LP raised its stake in shares of J. M. Smucker by 40.7% during the 1st quarter. Woodline Partners LP now owns 8,990 shares of the company's stock worth $1,065,000 after buying an additional 2,600 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of J. M. Smucker by 6.7% during the 2nd quarter. American Century Companies Inc. now owns 2,209 shares of the company's stock worth $217,000 after buying an additional 138 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at J. M. Smucker

In related news, insider Jeannette Knudsen sold 5,550 shares of J. M. Smucker stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $116.29, for a total transaction of $645,409.50. Following the completion of the transaction, the insider directly owned 16,039 shares in the company, valued at $1,865,175.31. The trade was a 25.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jill Penrose sold 5,000 shares of the company's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $116.69, for a total value of $583,450.00. Following the completion of the sale, the insider directly owned 15,795 shares in the company, valued at approximately $1,843,118.55. The trade was a 24.04% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 39,537 shares of company stock valued at $4,907,400. Company insiders own 2.80% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Morgan Stanley upped their price objective on J. M. Smucker from $106.00 to $110.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft set a $125.00 target price on shares of J. M. Smucker in a research report on Thursday, August 27th. BTIG Research reaffirmed a "buy" rating on shares of J. M. Smucker in a research note on Wednesday, August 26th. Royal Bank Of Canada increased their price target on shares of J. M. Smucker from $135.00 to $150.00 and gave the company an "outperform" rating in a report on Tuesday, August 25th. Finally, Sanford C. Bernstein raised their price objective on shares of J. M. Smucker from $137.00 to $157.00 and gave the company an "outperform" rating in a research note on Thursday, August 27th. Ten analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $136.25.

J. M. Smucker Trading Down 1.8%

NYSE:SJM opened at $126.17 on Friday. The company has a market capitalization of $13.48 billion, a PE ratio of 58.96, a price-to-earnings-growth ratio of 1.65 and a beta of 0.27. The company has a quick ratio of 0.35, a current ratio of 0.87 and a debt-to-equity ratio of 1.11. The J. M. Smucker Company has a 52-week low of $88.25 and a 52-week high of $135.89. The stock has a fifty day simple moving average of $119.53 and a 200-day simple moving average of $108.83.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The company reported $3.24 EPS for the quarter, beating analysts' consensus estimates of $2.22 by $1.02. J. M. Smucker had a net margin of 2.51% and a return on equity of 19.85%. The firm had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the prior year, the company earned $1.90 EPS. The firm's revenue was up 5.0% on a year-over-year basis. J. M. Smucker has set its FY 2027 guidance at 10.500-11.000 EPS. On average, equities research analysts expect that The J. M. Smucker Company will post 10.71 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were given a $1.12 dividend. This is a boost from J. M. Smucker's previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Friday, August 14th. J. M. Smucker's dividend payout ratio (DPR) is currently 209.35%.

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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