Sound Income Strategies LLC Increases Stock Position in The J. M. Smucker Company $SJM

Sound Income Strategies LLC grew its holdings in The J. M. Smucker Company (NYSE:SJM) by 346,226.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,045 shares of the company’s stock after purchasing an additional 90,019 shares during the quarter. Sound Income Strategies LLC’s holdings in J. M. Smucker were worth $8,598,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SJM. UBS Group AG lifted its stake in J. M. Smucker by 238.7% in the 4th quarter. UBS Group AG now owns 3,924,282 shares of the company’s stock valued at $383,834,000 after buying an additional 2,765,559 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of 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. National Bank of Canada FI grew its holdings in shares of J. M. Smucker by 797.4% during the third quarter. National Bank of Canada FI now owns 1,401,173 shares of the company’s stock worth $152,167,000 after buying an additional 1,245,035 shares in the last quarter. Capitolis Liquid Global Markets LLC purchased a new stake in shares of J. M. Smucker during the third quarter worth about $112,944,000. Finally, Norges Bank acquired a new position in shares of J. M. Smucker in the fourth quarter valued at approximately $92,960,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at J. M. Smucker

In other J. M. Smucker news, CFO Tucker H. Marshall sold 3,630 shares of the company’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 completion of the sale, the chief financial officer directly owned 38,699 shares in the company, valued at $4,297,523.95. This represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jill R. Penrose sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $116.69, for a total value of $583,450.00. Following the completion of the transaction, the insider owned 15,795 shares in the company, valued at approximately $1,843,118.55. This trade represents a 24.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 18,533 shares of company stock valued at $2,132,914. Company insiders own 2.24% of the company’s stock.

Analyst Ratings Changes

SJM has been the topic of several recent analyst reports. Barclays upped their price objective on shares of J. M. Smucker from $103.00 to $125.00 and gave the company an “equal weight” rating in a research note on Thursday, June 11th. Wells Fargo & Company set a $115.00 price target on J. M. Smucker in a report on Wednesday, June 10th. Weiss Ratings upgraded J. M. Smucker from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, June 11th. BTIG Research set a $130.00 price target on J. M. Smucker in a research note on Wednesday, June 10th. Finally, Evercore started coverage on J. M. Smucker in a report on Friday, May 15th. They set an “outperform” rating and a $117.00 price objective on the stock. Ten equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, J. M. Smucker currently has a consensus rating of “Hold” and a consensus price target of $121.13.

J. M. Smucker Stock Performance

NYSE:SJM opened at $116.32 on Friday. The company has a market cap of $12.41 billion, a P/E ratio of -89.48, a P/E/G ratio of 1.60 and a beta of 0.26. The firm’s 50 day moving average is $105.02 and its two-hundred day moving average is $103.16. The J. M. Smucker Company has a fifty-two week low of $88.25 and a fifty-two 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 announced its quarterly earnings data on Tuesday, June 9th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.13. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.31 EPS. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. Analysts expect that The J. M. Smucker Company will post 9.96 EPS for the current year.

J. M. Smucker Dividend Announcement

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

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.