Corient Private Wealth LLC Trims Stock Holdings in The J. M. Smucker Company $SJM

Corient Private Wealth LLC cut its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 22.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 51,714 shares of the company’s stock after selling 14,952 shares during the period. Corient Private Wealth LLC’s holdings in J. M. Smucker were worth $5,061,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SJM. Sankala Group LLC acquired a new stake in J. M. Smucker in the fourth quarter valued at approximately $46,000. Tobam boosted its position in shares of J. M. Smucker by 43.8% during the 4th quarter. Tobam now owns 14,727 shares of the company’s stock worth $1,440,000 after acquiring an additional 4,489 shares in the last quarter. MidFirst Bank acquired a new position in shares of J. M. Smucker in the 4th quarter valued at $297,000. Cambient Family Office LLC acquired a new stake in shares of J. M. Smucker in the 4th quarter valued at about $355,000. Finally, Invesco Ltd. increased its stake in J. M. Smucker by 5.8% in the fourth quarter. Invesco Ltd. now owns 2,783,272 shares of the company’s stock valued at $272,232,000 after purchasing an additional 151,872 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Activity

In related 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 owned 38,699 shares in the company, valued at $4,297,523.95. This represents a 8.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jeannette L. Knudsen sold 5,550 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $116.29, for a total transaction of $645,409.50. Following the transaction, the insider directly owned 16,039 shares in the company, valued at approximately $1,865,175.31. The trade was a 25.71% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.24% of the company’s stock.

J. M. Smucker Stock Performance

Shares of SJM stock opened at $115.55 on Friday. The J. M. Smucker Company has a 12-month low of $88.25 and a 12-month high of $119.39. 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 firm has a market capitalization of $12.32 billion, a price-to-earnings ratio of -88.88, a price-to-earnings-growth ratio of 1.57 and a beta of 0.27. The business has a 50 day simple moving average of $103.45 and a 200 day simple moving average of $102.74.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Tuesday, June 9th. The company reported $2.77 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the business earned $2.31 EPS. The firm’s revenue for the quarter 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. On average, equities research analysts anticipate that The J. M. Smucker Company will post 9.95 EPS for the current year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Friday, May 15th. J. M. Smucker’s payout ratio is currently -338.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of J. M. Smucker from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. Royal Bank Of Canada boosted their target price on J. M. Smucker from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $95.00 price objective on shares of J. M. Smucker in a research report on Wednesday, May 20th. BNP Paribas Exane set a $125.00 price objective on shares of J. M. Smucker in a research note on Thursday, April 9th. Finally, Evercore assumed coverage on shares of J. M. Smucker in a research note on Friday, May 15th. They issued an “outperform” rating and a $117.00 target price for the company. Ten analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $121.13.

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.