Strategic Investment Advisors MI Takes $567,000 Position in The J. M. Smucker Company $SJM

Strategic Investment Advisors MI acquired a new stake in The J. M. Smucker Company (NYSE:SJM) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,878 shares of the company’s stock, valued at approximately $567,000.

Several other large investors have also modified their holdings of the business. Arkadios Wealth Advisors purchased a new position in J. M. Smucker during the first quarter valued at approximately $279,000. EverSource Wealth Advisors LLC increased its holdings in shares of J. M. Smucker by 89.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 523 shares of the company’s stock valued at $50,000 after acquiring an additional 247 shares during the period. Royal Bank of Canada increased its holdings in shares of J. M. Smucker by 36.3% in the 1st quarter. Royal Bank of Canada now owns 168,591 shares of the company’s stock valued at $16,258,000 after acquiring an additional 44,935 shares during the period. Maverick Capital Ltd. raised its position in shares of J. M. Smucker by 6.9% in the 1st quarter. Maverick Capital Ltd. now owns 29,851 shares of the company’s stock worth $2,879,000 after acquiring an additional 1,939 shares in the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of J. M. Smucker by 42.0% in the 1st quarter. Quantinno Capital Management LP now owns 68,902 shares of the company’s stock worth $6,645,000 after acquiring an additional 20,379 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SJM. BTIG Research set a $130.00 price objective on J. M. Smucker in a research report on Wednesday, June 10th. Bank of America lifted their price objective on shares of J. M. Smucker from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Morgan Stanley boosted their price objective on shares of J. M. Smucker from $106.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 10th. Weiss Ratings raised shares of J. M. Smucker from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company set a $115.00 price target on shares of J. M. Smucker 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $121.67.

Insiders Place Their Bets

In other J. M. Smucker news, insider Jeannette L. Knudsen sold 5,550 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 16,039 shares of the company’s stock, valued at approximately $1,865,175.31. This trade represents a 25.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jill R. Penrose sold 5,000 shares of J. M. Smucker stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $116.69, for a total transaction of $583,450.00. Following the sale, the insider 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. In the last ninety days, insiders sold 18,533 shares of company stock valued at $2,132,914. 2.80% of the stock is owned by insiders.

J. M. Smucker Stock Performance

Shares of SJM opened at $122.21 on Friday. The stock has a 50-day moving average of $111.56 and a two-hundred day moving average of $105.51. The J. M. Smucker Company has a one year low of $88.25 and a one year 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 stock has a market cap of $13.04 billion, a P/E ratio of -94.01, a P/E/G ratio of 1.76 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 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 for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The company’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. As a group, research analysts predict that The J. M. Smucker Company will post 9.95 EPS for the current year.

J. M. Smucker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $1.12 dividend. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, August 14th. This represents a $4.48 annualized dividend and a yield of 3.7%. J. M. Smucker’s dividend payout ratio is currently -344.62%.

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.