The J. M. Smucker Company $SJM Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon cut its J. M. Smucker stake by 9.4% in the first quarter, selling 88,771 shares and leaving it with 856,021 shares valued at about $82.6 million.
• Insider selling continued, with Jill R. Penrose and Jeannette L. Knudsen both trimming holdings; insiders have sold 18,533 shares worth roughly $2.13 million over the past three months.
• J. M. Smucker reported better-than-expected quarterly earnings of $2.77 per share and revenue of $2.27 billion, while also raising its quarterly dividend to $1.12 per share for a 3.9% annualized yield.

Bank of New York Mellon Corp lessened its holdings in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 9.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 856,021 shares of the company's stock after selling 88,771 shares during the period. Bank of New York Mellon Corp owned 0.80% of J. M. Smucker worth $82,555,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Garton & Associates Financial Advisors LLC bought a new stake in J. M. Smucker during the 4th quarter valued at $25,000. CYBER HORNET ETFs LLC bought a new position in shares of J. M. Smucker in the second quarter worth $27,000. MCF Advisors LLC grew its stake in shares of J. M. Smucker by 68.1% in the fourth quarter. MCF Advisors LLC now owns 311 shares of the company's stock worth $30,000 after purchasing an additional 126 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in shares of J. M. Smucker during the second quarter valued at $31,000. Finally, Fideuram Asset Management Ireland dac bought a new stake in shares of J. M. Smucker during the fourth quarter valued at about $32,000. 81.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jill R. Penrose sold 5,000 shares of the stock in a transaction 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 sale, the insider owned 15,795 shares in the company, valued at $1,843,118.55. This represents a 24.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeannette L. Knudsen sold 5,550 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $116.29, for a total value of $645,409.50. Following the completion of the sale, the insider directly owned 16,039 shares of the company's stock, valued at approximately $1,865,175.31. This trade represents a 25.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 18,533 shares of company stock worth $2,132,914. Corporate insiders own 2.80% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SJM shares. Barclays upped their price objective on shares of J. M. Smucker from $103.00 to $125.00 and gave the stock an "equal weight" rating in a report on Thursday, June 11th. UBS Group increased their price objective on shares of J. M. Smucker from $121.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Morgan Stanley raised their price objective on shares of J. M. Smucker from $106.00 to $110.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 10th. TD Cowen upped their target price on J. M. Smucker from $103.00 to $115.00 and gave the stock a "hold" rating in a research report on Wednesday, June 10th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $137.00 price target on shares of J. M. Smucker in a research note on Wednesday, June 10th. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $121.13.

J. M. Smucker Stock Performance

SJM opened at $115.63 on Wednesday. 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 firm has a market cap of $12.33 billion, a PE ratio of -88.95, a P/E/G ratio of 1.57 and a beta of 0.26. The business has a fifty day simple moving average of $108.86 and a 200-day simple moving average of $104.34. The J. M. Smucker Company has a fifty-two week low of $88.25 and a fifty-two week high of $119.39.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its quarterly earnings results on Tuesday, June 9th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.64 by $0.13. J. M. Smucker had a positive return on equity of 17.18% and a negative net margin of 1.53%.The firm had revenue of $2.27 billion for the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter last year, the business posted $2.31 EPS. J. M. Smucker's 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 predict that The J. M. Smucker Company will post 9.95 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $4.48 dividend on an annualized basis and a yield of 3.9%. 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 -344.62%.

About J. M. Smucker

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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