Resona Asset Management Co. Ltd. Sells 31,219 Shares of The J. M. Smucker Company $SJM

Resona Asset Management Co. Ltd. cut its stake in The J. M. Smucker Company (NYSE:SJM) by 55.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,509 shares of the company’s stock after selling 31,219 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in J. M. Smucker were worth $2,433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SJM. Aquatic Capital Management LLC purchased a new position in shares of J. M. Smucker during the 3rd quarter valued at $9,444,000. Murphy Middleton Hinkle & Parker Inc. bought a new position in shares of J. M. Smucker in the fourth quarter worth $1,406,000. Stance Capital LLC raised its position in shares of J. M. Smucker by 371.5% in the third quarter. Stance Capital LLC now owns 35,471 shares of the company’s stock worth $3,852,000 after buying an additional 27,948 shares in the last quarter. Dorato Capital Management purchased a new stake in shares of J. M. Smucker in the fourth quarter worth $1,682,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in J. M. Smucker by 4.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 271,304 shares of the company’s stock valued at $26,216,000 after buying an additional 12,220 shares during the period. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Stock Down 0.9%

Shares of SJM opened at $110.65 on Tuesday. The firm has a market cap of $11.80 billion, a P/E ratio of -85.12, a P/E/G ratio of 1.56 and a beta of 0.26. The stock has a 50 day simple moving average of $107.25 and a two-hundred day simple moving average of $103.79. 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 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 EPS for the quarter, topping the consensus estimate 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 period last year, the firm posted $2.31 earnings per share. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. On average, analysts forecast that The J. M. Smucker Company will post 9.95 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $1.10 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.40 annualized dividend and a yield of 4.0%. J. M. Smucker’s payout ratio is currently -338.46%.

Insiders Place Their Bets

In other news, CFO Tucker H. Marshall sold 3,630 shares of J. M. Smucker stock in a transaction dated 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 owned 38,699 shares in the company, valued at approximately $4,297,523.95. The trade was a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeannette L. Knudsen sold 4,353 shares of the business’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 of the company’s stock, valued at approximately $1,937,371.80. This trade represents a 20.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 18,533 shares of company stock valued at $2,132,914 over the last three months. Insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wells Fargo & Company set a $115.00 target price on J. M. Smucker in a research note on Wednesday, June 10th. BTIG Research set a $130.00 price target on J. M. Smucker in a research report on Wednesday, June 10th. JPMorgan Chase & Co. upped their price objective on shares of J. M. Smucker from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Evercore initiated coverage on shares of J. M. Smucker in a research note on Friday, May 15th. They issued an “outperform” rating and a $117.00 target price on the stock. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $137.00 target price on shares of J. M. Smucker in a research report on Wednesday, June 10th. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, J. M. Smucker has a consensus rating of “Hold” and a consensus target price 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.