California Public Employees Retirement System Trims Stake in The J. M. Smucker Company $SJM

California Public Employees Retirement System cut its position in shares of The J. M. Smucker Company (NYSE:SJM) by 12.5% in the first quarter, HoldingsChannel reports. The firm owned 238,110 shares of the company’s stock after selling 34,106 shares during the period. California Public Employees Retirement System’s holdings in J. M. Smucker were worth $22,963,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bessemer Group Inc. grew its position in shares of J. M. Smucker by 22,662.1% during the 1st quarter. Bessemer Group Inc. now owns 726,112 shares of the company’s stock worth $70,025,000 after buying an additional 722,922 shares in the last quarter. Wealthfront Advisers LLC increased its stake in shares of J. M. Smucker by 34.5% during the first quarter. Wealthfront Advisers LLC now owns 4,339 shares of the company’s stock valued at $418,000 after buying an additional 1,112 shares during the period. D.A. Davidson & CO. raised its holdings in shares of J. M. Smucker by 20.1% in the first quarter. D.A. Davidson & CO. now owns 6,807 shares of the company’s stock valued at $657,000 after acquiring an additional 1,141 shares in the last quarter. Twin Capital Management Inc. raised its holdings in shares of J. M. Smucker by 48.8% in the first quarter. Twin Capital Management Inc. now owns 6,260 shares of the company’s stock valued at $604,000 after acquiring an additional 2,053 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its stake in J. M. Smucker by 29.6% in the first quarter. Sanctuary Advisors LLC now owns 8,478 shares of the company’s stock worth $818,000 after acquiring an additional 1,936 shares during the period. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SJM has been the topic of several recent research reports. Wall Street Zen upgraded shares of J. M. Smucker from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Weiss Ratings upgraded shares of J. M. Smucker from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, June 11th. Stifel Nicolaus lowered their price target on shares of J. M. Smucker from $120.00 to $100.00 and set a “hold” rating for the company in a research report on Tuesday, April 21st. TD Cowen increased their price objective on shares of J. M. Smucker from $103.00 to $115.00 and gave the company a “hold” rating in a research note on Wednesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $95.00 price objective on shares of J. M. Smucker in a report on Wednesday, May 20th. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, J. M. Smucker currently has a consensus rating of “Hold” and a consensus target price of $121.13.

J. M. Smucker Stock Up 1.9%

Shares of J. M. Smucker stock opened at $117.94 on Thursday. 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 company has a market cap of $12.58 billion, a P/E ratio of -90.72, a PEG ratio of 1.62 and a beta of 0.26. The firm’s 50 day moving average price is $109.21 and its 200-day moving average price is $104.48. The J. M. Smucker Company has a 52-week low of $88.25 and a 52-week high of $119.39.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Tuesday, June 9th. The company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.13. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.26 billion. J. M. Smucker had a negative net margin of 1.53% and a positive return on equity of 17.18%. J. M. Smucker’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.31 earnings per share. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. On average, sell-side analysts predict that The J. M. Smucker Company will post 9.95 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The firm 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 dividend of $1.12 per share. The ex-dividend date is Friday, August 14th. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.10. J. M. Smucker’s dividend payout ratio (DPR) is currently -338.46%.

Insider Transactions at J. M. Smucker

In related news, insider Jill R. Penrose sold 5,000 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $116.69, for a total transaction of $583,450.00. Following the transaction, the insider directly 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeannette L. Knudsen sold 4,353 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $115.08, for a total value of $500,943.24. Following the completion of the sale, the insider owned 16,835 shares of the company’s stock, valued at approximately $1,937,371.80. This trade represents a 20.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 18,533 shares of company stock valued at $2,132,914 in the last quarter. 2.80% of the stock is currently owned by corporate insiders.

J. M. Smucker 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.