Sound Income Strategies LLC Boosts Stake in The J. M. Smucker Company $SJM

Sound Income Strategies LLC lifted its position in The J. M. Smucker Company (NYSE:SJM) by 346,226.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,045 shares of the company’s stock after purchasing an additional 90,019 shares during the quarter. Sound Income Strategies LLC owned approximately 0.08% of J. M. Smucker worth $8,598,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its stake in J. M. Smucker by 10.2% in the fourth quarter. Golden State Wealth Management LLC now owns 991 shares of the company’s stock valued at $97,000 after buying an additional 92 shares during the last quarter. Colonial Trust Advisors boosted its holdings in shares of J. M. Smucker by 7.8% in the fourth quarter. Colonial Trust Advisors now owns 1,303 shares of the company’s stock valued at $127,000 after acquiring an additional 94 shares during the period. Harbour Investments Inc. grew its position in shares of J. M. Smucker by 2.1% during the fourth quarter. Harbour Investments Inc. now owns 4,652 shares of the company’s stock worth $455,000 after acquiring an additional 97 shares during the last quarter. Delta Asset Management LLC TN grew its position in shares of J. M. Smucker by 7.8% during the fourth quarter. Delta Asset Management LLC TN now owns 1,378 shares of the company’s stock worth $135,000 after acquiring an additional 100 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its holdings in shares of J. M. Smucker by 2.1% in the 4th quarter. New Mexico Educational Retirement Board now owns 4,922 shares of the company’s stock valued at $481,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Insider Buying and Selling at J. M. Smucker

In other J. M. Smucker news, insider Jill R. Penrose sold 5,000 shares of the business’s 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 transaction, the insider owned 15,795 shares in the company, valued at approximately $1,843,118.55. The trade was a 24.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Tucker H. Marshall sold 3,630 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $111.05, for a total value of $403,111.50. Following the transaction, the chief financial officer directly owned 38,699 shares of the company’s stock, valued at approximately $4,297,523.95. This trade represents a 8.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 18,533 shares of company stock valued at $2,132,914. 2.24% of the stock is owned by corporate insiders.

J. M. Smucker Stock Performance

NYSE:SJM opened at $116.32 on Friday. The firm’s fifty day moving average price is $105.02 and its 200 day moving average price is $103.16. The J. M. Smucker Company has a 1-year low of $88.25 and a 1-year high of $119.39. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.78 and a quick ratio of 0.33. The firm has a market cap of $12.41 billion, a price-to-earnings ratio of -89.48, a price-to-earnings-growth ratio of 1.60 and a beta of 0.26.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.13. The company had revenue of $2.27 billion during 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%. J. M. Smucker’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.31 EPS. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. On average, sell-side analysts expect that The J. M. Smucker Company will post 9.96 EPS for the current year.

J. M. Smucker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Friday, May 15th. J. M. Smucker’s payout ratio is currently -338.46%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Morgan Stanley upped their price target on shares of J. M. Smucker from $106.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 10th. UBS Group lifted their price objective on shares of J. M. Smucker from $121.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. TD Cowen upped their target price on shares of J. M. Smucker from $103.00 to $115.00 and gave the company a “hold” rating in a report on Wednesday, June 10th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $137.00 target price on shares of J. M. Smucker in a report on Wednesday, June 10th. Finally, Bank of America increased their target price on shares of J. M. Smucker from $130.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Ten research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $121.13.

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.