Palouse Capital Management Inc. Takes Position in The J. M. Smucker Company $SJM

Palouse Capital Management Inc. acquired a new position in The J. M. Smucker Company (NYSE:SJM) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 33,705 shares of the company’s stock, valued at approximately $3,792,000. J. M. Smucker accounts for about 2.4% of Palouse Capital Management Inc.’s portfolio, making the stock its 17th largest holding.

Several other large investors have also recently bought and sold shares of the company. UBS Group AG raised its position in shares of J. M. Smucker by 238.7% during the fourth quarter. UBS Group AG now owns 3,924,282 shares of the company’s stock worth $383,834,000 after acquiring an additional 2,765,559 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in J. M. Smucker by 15.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,920,718 shares of the company’s stock valued at $378,102,000 after acquiring an additional 528,418 shares during the last quarter. Invesco Ltd. increased its position in J. M. Smucker by 5.8% in the fourth quarter. Invesco Ltd. now owns 2,783,272 shares of the company’s stock worth $272,232,000 after purchasing an additional 151,872 shares during the period. Morgan Stanley increased its position in J. M. Smucker by 16.8% in the fourth quarter. Morgan Stanley now owns 2,486,596 shares of the company’s stock worth $243,214,000 after purchasing an additional 357,253 shares during the period. Finally, Two Sigma Investments LP raised its holdings in J. M. Smucker by 6,854.4% during the 3rd quarter. Two Sigma Investments LP now owns 1,527,962 shares of the company’s stock worth $165,937,000 after purchasing an additional 1,505,991 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Stock Down 0.2%

Shares of NYSE:SJM opened at $118.99 on Friday. The J. M. Smucker Company has a 52 week low of $88.25 and a 52 week high of $127.64. 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 $12.69 billion, a PE ratio of -91.53, a PEG ratio of 1.65 and a beta of 0.25. The company has a 50 day moving average price of $113.12 and a two-hundred day moving average price of $106.09.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Tuesday, June 9th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.13. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates 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 for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $2.31 earnings per share. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. Analysts forecast that The J. M. Smucker Company will post 10.06 earnings per share for the current year.

J. M. Smucker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, August 14th. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.10. J. M. Smucker’s dividend payout ratio (DPR) is -338.46%.

Insiders Place Their Bets

In other J. M. Smucker 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 transaction of $403,111.50. Following the transaction, 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 legal filing with the SEC, which is accessible through this link. Also, insider Jill R. Penrose sold 5,000 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $116.69, for a total value of $583,450.00. Following the completion of the transaction, 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 18,533 shares of company stock worth $2,132,914. Corporate insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SJM shares. Wall Street Zen lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Wells Fargo & Company set a $115.00 price target on shares of J. M. Smucker in a research note on Wednesday, June 10th. UBS Group increased their price objective on shares of J. M. Smucker from $121.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $95.00 price objective on shares of J. M. Smucker in a research note on Wednesday, May 20th. Finally, JPMorgan Chase & Co. lifted their target price on shares of J. M. Smucker from $120.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Nine research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $121.67.

About J. M. Smucker

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.