The J. M. Smucker Company $SJM Stock Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in The J. M. Smucker Company (NYSE:SJM) by 9.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 856,021 shares of the company’s stock after selling 88,771 shares during the quarter. Bank of New York Mellon Corp’s holdings in J. M. Smucker were worth $82,555,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other J. M. Smucker news, CFO Tucker H. Marshall sold 3,630 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $111.05, for a total transaction of $403,111.50. Following the completion of the transaction, the chief financial officer owned 38,699 shares of the company’s stock, valued at $4,297,523.95. The trade was a 8.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeannette L. Knudsen sold 4,353 shares of the firm’s 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 directly owned 16,835 shares in the company, valued at approximately $1,937,371.80. This represents a 20.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 18,533 shares of company stock valued at $2,132,914. Company insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SJM shares. BNP Paribas Exane set a $125.00 price target on J. M. Smucker in a report on Thursday, April 9th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $137.00 price objective on shares of J. M. Smucker in a research report on Wednesday, June 10th. Royal Bank Of Canada raised their price objective on shares of J. M. Smucker from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, June 10th. Stifel Nicolaus decreased their target price 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. Finally, TD Cowen boosted their target price on shares of J. M. Smucker from $103.00 to $115.00 and gave the stock a “hold” rating in a research report on Wednesday, June 10th. Nine equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, J. M. Smucker currently has a consensus rating of “Hold” and a consensus price target of $121.13.

J. M. Smucker Stock Up 2.8%

Shares of SJM stock opened at $115.63 on Wednesday. The stock’s 50 day simple moving average is $108.86 and its 200 day simple moving average is $104.34. The J. M. Smucker Company has a twelve month low of $88.25 and a twelve month high of $119.39. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.33 and a current ratio of 0.78. The company has a market capitalization of $12.33 billion, a price-to-earnings ratio of -88.95, a PEG ratio of 1.57 and a beta of 0.26.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Tuesday, June 9th. The company reported $2.77 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the prior year, the business earned $2.31 earnings per share. The company’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, research analysts predict that The J. M. Smucker Company will post 9.95 EPS for the current 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 issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $4.48 annualized dividend and a dividend yield of 3.9%. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.10. J. M. Smucker’s payout ratio is currently -344.62%.

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.