Bank of Nova Scotia Buys 387,605 Shares of The J. M. Smucker Company $SJM

Bank of Nova Scotia increased its stake in The J. M. Smucker Company (NYSE:SJM) by 2,317.8% in the 1st quarter, Holdings Channel reports. The firm owned 404,328 shares of the company’s stock after purchasing an additional 387,605 shares during the period. Bank of Nova Scotia’s holdings in J. M. Smucker were worth $38,993,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in SJM. Garton & Associates Financial Advisors LLC acquired a new position in J. M. Smucker during the fourth quarter valued at approximately $25,000. CYBER HORNET ETFs LLC acquired a new stake in shares of J. M. Smucker in the second quarter worth $27,000. MCF Advisors LLC boosted its holdings in shares of J. M. Smucker by 68.1% during the 4th quarter. MCF Advisors LLC now owns 311 shares of the company’s stock worth $30,000 after buying an additional 126 shares during the period. MUFG Securities EMEA plc bought a new stake in shares of J. M. Smucker during the 2nd quarter worth $31,000. Finally, Fideuram Asset Management Ireland dac acquired a new position in J. M. Smucker in the 4th quarter valued at $32,000. Institutional investors own 81.66% of the company’s stock.

Insider Activity at J. M. Smucker

In other J. M. Smucker news, insider Jill R. Penrose sold 5,000 shares of J. M. Smucker 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Tucker H. Marshall sold 3,630 shares of the company’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 sale, the chief financial officer owned 38,699 shares in the company, valued at approximately $4,297,523.95. This represents a 8.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,533 shares of company stock valued at $2,132,914 over the last quarter. 2.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Weiss Ratings upgraded shares of J. M. Smucker from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. BNP Paribas Exane set a $125.00 price target on shares of J. M. Smucker in a report on Thursday, April 9th. UBS Group raised their price target on J. M. Smucker from $121.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. JPMorgan Chase & Co. lifted their price objective on J. M. Smucker from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 10th. Finally, Barclays boosted their price objective on J. M. Smucker from $103.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 11th. Nine investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $121.67.

J. M. Smucker Stock Performance

SJM opened at $118.31 on Friday. The stock’s 50 day simple moving average is $109.88 and its 200-day simple moving average is $104.71. The company has a current ratio of 0.78, a quick ratio of 0.33 and a debt-to-equity ratio of 1.15. The stock 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. The J. M. Smucker Company has a 1 year low of $88.25 and a 1 year high of $119.39.

J. M. Smucker (NYSE:SJM) last posted 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. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.26 billion. J. M. Smucker had a negative net margin of 1.53% and a positive return on equity of 17.18%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.31 earnings per share. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. Sell-side analysts forecast that The J. M. Smucker Company will post 9.95 EPS for the current year.

J. M. Smucker Increases Dividend

The firm also recently announced 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 is an increase from J. M. Smucker’s previous quarterly dividend of $1.10. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. J. M. Smucker’s payout ratio 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.