Swiss National Bank Cuts Stock Holdings in The J. M. Smucker Company $SJM

Key Points

• Swiss National Bank cut its J. M. Smucker stake by 27.8% in Q1, selling 81,265 shares and leaving it with 211,100 shares worth about $20.4 million.
• Several company insiders sold shares recently, including CFO Tucker H. Marshall and insider Jill R. Penrose; insiders have sold 18,533 shares over the last 90 days.
• J. M. Smucker posted a quarterly earnings beat with $2.77 EPS versus $2.64 expected and raised its dividend to $1.12 per share, while analysts currently have a consensus Hold rating and $121.67 price target.

Swiss National Bank lowered its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 27.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,100 shares of the company's stock after selling 81,265 shares during the quarter. Swiss National Bank owned approximately 0.20% of J. M. Smucker worth $20,358,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SJM. Golden State Wealth Management LLC boosted its stake in shares of J. M. Smucker by 10.2% in the fourth quarter. Golden State Wealth Management LLC now owns 991 shares of the company's stock worth $97,000 after acquiring an additional 92 shares during the last quarter. Colonial Trust Advisors raised its stake in J. M. Smucker by 7.8% in the 4th quarter. Colonial Trust Advisors now owns 1,303 shares of the company's stock valued at $127,000 after purchasing an additional 94 shares during the last quarter. Harbour Investments Inc. lifted its holdings in J. M. Smucker by 2.1% in the 4th quarter. Harbour Investments Inc. now owns 4,652 shares of the company's stock valued at $455,000 after purchasing an additional 97 shares in the last quarter. Delta Asset Management LLC TN lifted its holdings in J. M. Smucker by 7.8% in the 4th quarter. Delta Asset Management LLC TN now owns 1,378 shares of the company's stock valued at $135,000 after purchasing an additional 100 shares in the last quarter. Finally, New Mexico Educational Retirement Board boosted its stake in J. M. Smucker by 2.1% during the 4th quarter. New Mexico Educational Retirement Board now owns 4,922 shares of the company's stock worth $481,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.

Insider Activity

In other news, CFO Tucker H. Marshall sold 3,630 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $111.05, for a total transaction of $403,111.50. Following the completion of the sale, the chief financial officer owned 38,699 shares in the company, valued at $4,297,523.95. This trade represents a 8.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jill R. Penrose sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $116.69, for a total transaction of $583,450.00. Following the sale, the insider owned 15,795 shares of the company's stock, valued at $1,843,118.55. This represents a 24.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,533 shares of company stock valued at $2,132,914 in the last 90 days. Company insiders own 2.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SJM shares. JPMorgan Chase & Co. upped their target price on shares of J. M. Smucker from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, June 10th. Sanford C. Bernstein reissued an "outperform" rating and issued a $137.00 price target on shares of J. M. Smucker in a research note on Wednesday, June 10th. Royal Bank Of Canada upped their price objective on shares of J. M. Smucker from $130.00 to $135.00 and gave the company an "outperform" rating in a research note on Wednesday, June 10th. Evercore reiterated an "outperform" rating and issued a $125.00 price objective on shares of J. M. Smucker in a report on Thursday. Finally, BTIG Research set a $130.00 target price on shares of J. M. Smucker in a research note on Wednesday, June 10th. Nine analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, J. M. Smucker currently has a consensus rating of "Hold" and a consensus price target of $121.67.

J. M. Smucker Stock Up 2.2%

NYSE SJM opened at $118.31 on Friday. The J. M. Smucker Company has a 52 week low of $88.25 and a 52 week high of $119.39. The company has a quick ratio of 0.33, a current ratio of 0.78 and a debt-to-equity ratio of 1.15. The business's fifty day simple moving average is $109.88 and its 200-day simple moving average is $104.71. The firm has a market cap of $12.62 billion, a PE ratio of -91.01, a P/E/G ratio of 1.62 and a beta of 0.26.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.64 by $0.13. J. M. Smucker had a negative net margin of 1.53% and a positive return on equity of 17.18%. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the firm posted $2.31 earnings per share. J. M. Smucker's quarterly revenue was up 5.8% on a year-over-year basis. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. As a group, equities analysts anticipate that The J. M. Smucker Company will post 9.95 earnings per share for the current year.

J. M. Smucker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, August 14th. This is a positive change from J. M. Smucker's previous quarterly dividend of $1.10. J. M. Smucker's dividend payout ratio (DPR) is presently -344.62%.

J. M. Smucker Company 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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