Raymond James Financial Inc. Acquires 23,860 Shares of The J. M. Smucker Company $SJM

Key Points

• Raymond James Financial Inc. increased its stake in The J. M. Smucker Company by 8.0%, now holding 323,423 shares valued at approximately $38.3 million.
• The J. M. Smucker Company has announced a quarterly dividend increase to $1.10 per share, representing an annualized dividend yield of 3.9%.
• Analysts have recently upgraded J. M. Smucker's stock rating, with JPMorgan Chase raising its target price from $102.00 to $129.00.

Raymond James Financial Inc. lifted its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 8.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 323,423 shares of the company's stock after acquiring an additional 23,860 shares during the period. Raymond James Financial Inc. owned approximately 0.30% of J. M. Smucker worth $38,297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SJM. Two Sigma Advisers LP raised its position in shares of J. M. Smucker by 76.7% in the 4th quarter. Two Sigma Advisers LP now owns 1,078,892 shares of the company's stock worth $118,808,000 after acquiring an additional 468,200 shares in the last quarter. LSV Asset Management grew its stake in shares of J. M. Smucker by 48.4% in the 1st quarter. LSV Asset Management now owns 1,379,320 shares of the company's stock valued at $163,325,000 after buying an additional 449,920 shares during the period. GAMMA Investing LLC grew its stake in shares of J. M. Smucker by 8,557.5% in the 1st quarter. GAMMA Investing LLC now owns 321,365 shares of the company's stock valued at $38,053,000 after buying an additional 317,653 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of J. M. Smucker by 12.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,257,127 shares of the company's stock valued at $267,252,000 after buying an additional 248,110 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of J. M. Smucker in the 1st quarter valued at about $26,928,000. 81.66% of the stock is owned by institutional investors.

J. M. Smucker Stock Performance

Shares of SJM stock opened at $113.1820 on Friday. The stock has a market capitalization of $12.05 billion, a P/E ratio of -9.79, a PEG ratio of 8.40 and a beta of 0.31. The company has a current ratio of 0.81, a quick ratio of 0.35 and a debt-to-equity ratio of 1.16. The firm's 50 day moving average is $105.67 and its 200 day moving average is $109.39. The J. M. Smucker Company has a 12 month low of $93.30 and a 12 month high of $125.42.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.25 by $0.06. The company had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.18 billion. J. M. Smucker had a negative net margin of 14.10% and a positive return on equity of 15.20%. J. M. Smucker's revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.66 EPS. J. M. Smucker has set its FY 2026 guidance at 8.500-9.500 EPS. On average, sell-side analysts anticipate that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, August 15th. This is an increase from J. M. Smucker's previous quarterly dividend of $1.08. J. M. Smucker's dividend payout ratio is currently -38.06%.

Analyst Ratings Changes

SJM has been the subject of several research reports. JPMorgan Chase & Co. upgraded J. M. Smucker from a "neutral" rating to an "overweight" rating and raised their target price for the company from $102.00 to $129.00 in a research note on Wednesday. BNP Paribas upgraded J. M. Smucker from a "strong sell" rating to a "strong-buy" rating in a research note on Wednesday, July 9th. Morgan Stanley raised their target price on J. M. Smucker from $115.00 to $118.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. BNP Paribas Exane upgraded J. M. Smucker from an "underperform" rating to an "outperform" rating and set a $120.00 target price for the company in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company raised their target price on J. M. Smucker from $115.00 to $120.00 and gave the company an "overweight" rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, J. M. Smucker currently has a consensus rating of "Moderate Buy" and an average target price of $119.69.

Insider Activity at J. M. Smucker

In other news, Director Tarang Amin bought 1,050 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were acquired at an average price of $96.09 per share, with a total value of $100,894.50. Following the acquisition, the director owned 3,825 shares of the company's stock, valued at approximately $367,544.25. The trade was a 37.84% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.24% of the company's stock.

J. M. Smucker Company Profile

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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