The J. M. Smucker Company $SJM Shares Bought by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its J. M. Smucker stake by 36.3% in the first quarter, bringing its holdings to 168,591 shares valued at approximately $16.3 million. Institutional investors collectively own 81.66% of the company.
• Analyst sentiment remains mixed, with nine Buy ratings and ten Hold ratings, resulting in a consensus Hold rating and a $121.67 average price target. J. M. Smucker recently exceeded quarterly earnings and revenue expectations.
• J. M. Smucker raised its quarterly dividend to $1.12 per share, or $4.48 annually, representing a dividend yield of about 3.8%. Company insiders, however, sold 18,533 shares worth roughly $2.13 million during the latest quarter.

Royal Bank of Canada raised its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 36.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 168,591 shares of the company's stock after buying an additional 44,935 shares during the quarter. Royal Bank of Canada owned about 0.16% of J. M. Smucker worth $16,258,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of J. M. Smucker by 10.0% in the 1st 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 last quarter. United Services Automobile Association purchased a new stake in J. M. Smucker during the 1st quarter worth approximately $253,000. Empowered Funds LLC increased its stake in J. M. Smucker by 28.6% during the 1st quarter. Empowered Funds LLC now owns 12,992 shares of the company's stock valued at $1,538,000 after purchasing an additional 2,889 shares in the last quarter. Woodline Partners LP increased its stake in J. M. Smucker by 40.7% during the 1st quarter. Woodline Partners LP now owns 8,990 shares of the company's stock valued at $1,065,000 after purchasing an additional 2,600 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of J. M. Smucker by 6.7% in the second quarter. American Century Companies Inc. now owns 2,209 shares of the company's stock worth $217,000 after buying an additional 138 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

Insider Activity

In other J. M. Smucker news, insider Jill R. Penrose sold 5,000 shares of the business'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 value of $583,450.00. Following the completion of the transaction, the insider directly owned 15,795 shares of the company's stock, valued at approximately $1,843,118.55. The trade was a 24.04% 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. Also, CFO Tucker H. Marshall sold 3,630 shares of the business'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 value of $403,111.50. Following the completion of the transaction, the chief financial officer directly owned 38,699 shares of the company's stock, valued at $4,297,523.95. The trade was a 8.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,533 shares of company stock valued at $2,132,914 in the last quarter. 2.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Bank of America lifted their price objective on shares of J. M. Smucker from $130.00 to $132.00 and gave the stock a "buy" rating in a research note on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $95.00 target price on shares of J. M. Smucker in a research note on Wednesday, May 20th. Royal Bank Of Canada lifted their price target on J. M. Smucker from $130.00 to $135.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 10th. BTIG Research set a $130.00 price target on J. M. Smucker in a research note on Wednesday, June 10th. Finally, Barclays increased their price objective on J. M. Smucker from $103.00 to $125.00 and gave the company an "equal weight" rating in a report on Thursday, June 11th. Nine analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $121.67.

J. M. Smucker Stock Down 0.2%

NYSE:SJM opened at $118.99 on Friday. The firm has a market capitalization of $12.69 billion, a P/E ratio of -91.53, a PEG ratio of 1.65 and a beta of 0.25. The J. M. Smucker Company has a 1-year low of $88.25 and a 1-year high of $127.64. The company's fifty day moving average price is $113.12 and its 200-day moving average price is $106.09. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.78 and a quick ratio of 0.33.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its earnings results on Tuesday, June 9th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $2.26 billion. During the same quarter last year, the company posted $2.31 earnings per share. The firm's revenue was up 5.8% compared to the same quarter last year. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. As a group, equities research analysts anticipate that The J. M. Smucker Company will post 10.06 EPS for the current year.

J. M. Smucker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $1.12 dividend. This is a boost from J. M. Smucker's previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Friday, August 14th. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. J. M. Smucker's payout ratio is presently -338.46%.

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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