Sumitomo Mitsui Trust Group Inc. Trims Holdings in The J. M. Smucker Company $SJM

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 78.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,193 shares of the company’s stock after selling 200,907 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.05% of J. M. Smucker worth $5,226,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SJM. Staley Capital Advisers Inc. raised its stake in shares of J. M. Smucker by 17.2% during the first quarter. Staley Capital Advisers Inc. now owns 637,660 shares of the company’s stock valued at $61,496,000 after acquiring an additional 93,808 shares in the last quarter. Walser Wealth Management Company A Ltd Liability Co bought a new stake in shares of J. M. Smucker in the first quarter valued at about $341,000. Stephens Inc. AR raised its holdings in shares of J. M. Smucker by 6.2% in the first quarter. Stephens Inc. AR now owns 3,491 shares of the company’s stock valued at $337,000 after acquiring an additional 204 shares in the last quarter. Raleigh Capital Management Inc. purchased a new stake in J. M. Smucker in the first quarter worth about $255,000. Finally, Praxis Investment Management Inc. lifted its stake in J. M. Smucker by 74.3% in the first quarter. Praxis Investment Management Inc. now owns 4,271 shares of the company’s stock worth $412,000 after acquiring an additional 1,821 shares during the period. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Stock Down 1.5%

J. M. Smucker stock opened at $108.84 on Wednesday. The J. M. Smucker Company has a 1-year low of $88.25 and a 1-year high of $119.39. The business has a fifty day moving average price of $107.49 and a 200-day moving average price of $103.86. 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 stock has a market capitalization of $11.61 billion, a price-to-earnings ratio of -83.73, a PEG ratio of 1.54 and a beta of 0.26.

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

J. M. Smucker Dividend Announcement

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

Analyst Upgrades and Downgrades

SJM has been the topic of a number of research reports. Evercore initiated coverage on shares of J. M. Smucker in a research report on Friday, May 15th. They set an “outperform” rating and a $117.00 target price on the stock. Morgan Stanley increased their price objective on shares of J. M. Smucker from $106.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 10th. Royal Bank Of Canada lifted their price objective on shares of J. M. Smucker from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $95.00 target price on shares of J. M. Smucker in a report on Wednesday, May 20th. Finally, Barclays lifted their price target on J. M. Smucker from $103.00 to $125.00 and gave the company an “equal weight” rating in a report on Thursday, June 11th. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $121.13.

Insiders Place Their Bets

In other news, CFO Tucker H. Marshall sold 3,630 shares of J. M. Smucker 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 sale, the chief financial officer directly 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 SEC, which is accessible through the SEC website. Also, insider Jeannette L. Knudsen sold 5,550 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $116.29, for a total transaction of $645,409.50. Following the sale, the insider directly owned 16,039 shares in the company, valued at $1,865,175.31. This trade represents a 25.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 18,533 shares of company stock valued at $2,132,914. Insiders own 2.80% of the company’s stock.

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.