Hsbc Holdings PLC Decreases Holdings in The J. M. Smucker Company $SJM

Hsbc Holdings PLC lowered its stake in The J. M. Smucker Company (NYSE:SJM) by 24.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,096 shares of the company’s stock after selling 39,396 shares during the period. Hsbc Holdings PLC owned approximately 0.12% of J. M. Smucker worth $11,840,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of J. M. Smucker by 10.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,440 shares of the company’s stock valued at $2,286,000 after purchasing an additional 1,763 shares during the last quarter. United Services Automobile Association bought a new position in J. M. Smucker during the first quarter valued at $253,000. Empowered Funds LLC increased its position in J. M. Smucker by 28.6% during the first quarter. Empowered Funds LLC now owns 12,992 shares of the company’s stock valued at $1,538,000 after acquiring an additional 2,889 shares during the last quarter. Woodline Partners LP raised its stake in shares of J. M. Smucker by 40.7% in the first quarter. Woodline Partners LP now owns 8,990 shares of the company’s stock valued at $1,065,000 after acquiring an additional 2,600 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of J. M. Smucker by 6.7% in the 2nd quarter. American Century Companies Inc. now owns 2,209 shares of the company’s stock worth $217,000 after acquiring an additional 138 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SJM. Evercore started coverage on shares of J. M. Smucker in a report on Friday, May 15th. They set an “outperform” rating and a $117.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on J. M. Smucker from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. BTIG Research set a $130.00 target price on J. M. Smucker in a research note on Wednesday, June 10th. Morgan Stanley increased their price target on J. M. Smucker from $106.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 10th. Finally, UBS Group raised their price target on J. M. Smucker from $121.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Nine equities 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, J. M. Smucker has a consensus rating of “Hold” and a consensus price target of $121.13.

J. M. Smucker Stock Up 1.9%

Shares of NYSE:SJM opened at $117.94 on Thursday. The business’s 50 day moving average is $109.21 and its 200 day moving average is $104.48. The stock has a market cap of $12.58 billion, a P/E ratio of -90.72, a price-to-earnings-growth ratio of 1.62 and a beta of 0.26. The J. M. Smucker Company has a 52-week low of $88.25 and a 52-week high of $119.39. The company has a quick ratio of 0.33, a current ratio of 0.78 and a debt-to-equity ratio of 1.15.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Tuesday, June 9th. The company reported $2.77 earnings per share 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 business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the company posted $2.31 EPS. J. M. Smucker’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. Sell-side analysts predict that The J. M. Smucker Company will post 9.95 EPS for the current year.

J. M. Smucker Increases Dividend

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

Insider Activity

In related news, CFO Tucker H. Marshall sold 3,630 shares of the firm’s 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 sale, the chief financial officer owned 38,699 shares of the company’s stock, valued at $4,297,523.95. This trade represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeannette L. Knudsen sold 5,550 shares of J. M. Smucker stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $116.29, for a total value of $645,409.50. Following the completion of the transaction, the insider owned 16,039 shares in the company, valued at $1,865,175.31. This trade represents a 25.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 18,533 shares of company stock worth $2,132,914. 2.80% of the stock is currently owned by company insiders.

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.