Contravisory Investment Management Inc. Buys New Position in The J. M. Smucker Company $SJM

Contravisory Investment Management Inc. purchased a new position in shares of The J. M. Smucker Company (NYSE:SJM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,613 shares of the company’s stock, valued at approximately $927,000.

Other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of J. M. Smucker by 10.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,440 shares of the company’s stock valued at $2,286,000 after acquiring an additional 1,763 shares during the period. United Services Automobile Association acquired a new stake in J. M. Smucker during the 1st quarter worth $253,000. Empowered Funds LLC grew its position in J. M. Smucker by 28.6% during the 1st quarter. Empowered Funds LLC now owns 12,992 shares of the company’s stock worth $1,538,000 after purchasing an additional 2,889 shares during the last quarter. Woodline Partners LP increased its stake in 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 purchasing an additional 2,600 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of J. M. Smucker by 6.7% in the second quarter. American Century Companies Inc. now owns 2,209 shares of the company’s stock valued at $217,000 after buying an additional 138 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Bank of America boosted their price target on J. M. Smucker from $130.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $95.00 price objective on shares of J. M. Smucker in a research report on Wednesday, May 20th. UBS Group lifted their target price on J. M. Smucker from $121.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Barclays boosted their target price 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. Finally, JPMorgan Chase & Co. upped their price target on J. M. Smucker from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 10th. Ten equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $121.13.

Insider Activity

In other J. M. Smucker news, CFO Tucker H. Marshall sold 3,630 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $111.05, for a total value of $403,111.50. Following the completion of the transaction, the chief financial officer directly owned 38,699 shares of the company’s stock, valued at approximately $4,297,523.95. This trade represents a 8.58% decrease in their ownership of the stock. The sale 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 that occurred on Thursday, June 11th. The stock was sold at an average price of $116.29, for a total value 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 position. The SEC filing for this sale provides additional information. 2.24% of the stock is owned by company insiders.

J. M. Smucker Stock Up 0.6%

J. M. Smucker stock opened at $112.30 on Friday. 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. The company has a market cap of $11.98 billion, a PE ratio of -86.38, a price-to-earnings-growth ratio of 1.56 and a beta of 0.27. The stock’s 50 day moving average price is $103.01 and its 200 day moving average price is $102.65.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Tuesday, June 9th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the prior year, the business posted $2.31 earnings per share. J. M. Smucker’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. On average, sell-side analysts predict 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. Stockholders of record on Friday, May 15th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Friday, May 15th. J. M. Smucker’s dividend payout ratio (DPR) is currently -338.46%.

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.