Comerica Bank Lowers Position in The J. M. Smucker Company $SJM

Key Points

• Comerica Bank reduced its stake in The J. M. Smucker Company by 14.9% during the first quarter, leaving it with approximately 20,456 shares valued at $2,422,000.
• The company declared a quarterly dividend of $1.10 per share, increasing from the previous dividend of $1.08, with a dividend yield of 4.0%.
• J. M. Smucker reported a quarterly earnings miss with an EPS of $1.90, falling short of the consensus estimate of $1.95, while revenue saw a slight decrease of 0.6% year-over-year.

Comerica Bank trimmed its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 14.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,456 shares of the company's stock after selling 3,574 shares during the period. Comerica Bank's holdings in J. M. Smucker were worth $2,422,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Minot DeBlois Advisors LLC purchased a new stake in J. M. Smucker during the 4th quarter valued at $28,000. Measured Risk Portfolios Inc. purchased a new stake in shares of J. M. Smucker during the fourth quarter worth about $29,000. N.E.W. Advisory Services LLC purchased a new position in J. M. Smucker during the first quarter valued at $30,000. Cooksen Wealth LLC purchased a new position in shares of J. M. Smucker during the first quarter valued at about $33,000. Finally, National Pension Service grew its holdings in J. M. Smucker by 74.9% during the 1st quarter. National Pension Service now owns 383 shares of the company's stock valued at $45,000 after buying an additional 164 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Tarang Amin bought 1,050 shares of the company's stock in a transaction on Thursday, June 12th. The stock was bought at an average cost of $96.09 per share, for a total transaction of $100,894.50. Following the acquisition, the director directly owned 3,825 shares in the company, valued at $367,544.25. This represents a 37.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.24% of the stock is owned by company insiders.

J. M. Smucker Price Performance

Shares of J. M. Smucker stock traded up $0.16 on Thursday, hitting $112.21. The company's stock had a trading volume of 1,495,175 shares, compared to its average volume of 1,657,515. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of -8.18, a price-to-earnings-growth ratio of 7.65 and a beta of 0.27. The J. M. Smucker Company has a 1 year low of $93.30 and a 1 year high of $125.42. The firm has a fifty day moving average price of $107.83 and a 200-day moving average price of $109.73. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.35 and a current ratio of 0.81.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $1.90 EPS for the quarter, missing analysts' consensus estimates of $1.95 by ($0.05). J. M. Smucker had a negative net margin of 16.75% and a positive return on equity of 15.41%. The business had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.09 billion. During the same quarter last year, the firm earned $2.44 earnings per share. The firm's quarterly revenue was down .6% compared to the same quarter last year. J. M. Smucker has set its FY 2026 guidance at 8.500-9.500 EPS. As a group, sell-side analysts anticipate that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from J. M. Smucker's previous quarterly dividend of $1.08. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.9%. J. M. Smucker's payout ratio is currently -32.09%.

Analyst Ratings Changes

Several research firms recently commented on SJM. Bank of America dropped their price target on J. M. Smucker from $120.00 to $118.00 and set a "neutral" rating for the company in a research report on Thursday, August 28th. Wells Fargo & Company boosted their price objective on shares of J. M. Smucker from $115.00 to $120.00 and gave the company an "overweight" rating in a research report 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 report on Wednesday, July 9th. DA Davidson upped their target price on J. M. Smucker from $104.00 to $112.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. Finally, Zacks Research raised shares of J. M. Smucker to a "hold" rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $118.00.

About J. M. Smucker

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.