J. M. Smucker (NYSE:SJM) Reaches New 52-Week High – Here’s What Happened

The J. M. Smucker Company (NYSE:SJM)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $120.08 and last traded at $119.7440, with a volume of 172654 shares. The stock had previously closed at $118.32.

Wall Street Analysts Forecast Growth

SJM has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $95.00 target price on shares of J. M. Smucker in a research note on Wednesday, May 20th. Wall Street Zen lowered J. M. Smucker from a “buy” rating to a “hold” rating in a research report on Saturday. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $137.00 price target on shares of J. M. Smucker in a research note on Wednesday, June 10th. UBS Group increased their price target on shares of J. M. Smucker from $121.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Finally, Stifel Nicolaus reduced their price objective on shares of J. M. Smucker from $120.00 to $100.00 and set a “hold” rating on the stock in a research note on Tuesday, April 21st. Nine analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, J. M. Smucker presently has a consensus rating of “Hold” and an average target price of $121.67.

J. M. Smucker Price Performance

The company has a 50 day moving average of $110.63 and a 200 day moving average of $105.16. The company has a current ratio of 0.78, a quick ratio of 0.33 and a debt-to-equity ratio of 1.15. The firm has a market cap of $13.13 billion, a price-to-earnings ratio of -94.70, a P/E/G ratio of 1.69 and a beta of 0.26.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results 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 company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The company’s revenue for the quarter 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. Equities research analysts predict that The J. M. Smucker Company will post 9.95 EPS for the current fiscal 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 issued a dividend of $1.12 per share. This is an increase 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 3.6%. J. M. Smucker’s dividend payout ratio is -338.46%.

Insider Buying and Selling at J. M. Smucker

In related news, insider Jeannette L. Knudsen sold 5,550 shares of the firm’s stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jill R. Penrose sold 5,000 shares of the business’s stock in a transaction 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 completion of the sale, the insider directly owned 15,795 shares in the company, valued at $1,843,118.55. This represents a 24.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 18,533 shares of company stock valued at $2,132,914. 2.80% of the stock is currently owned by corporate insiders.

Institutional Trading of J. M. Smucker

A number of institutional investors have recently modified their holdings of the company. UBS Group AG raised its position 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 during the last quarter. Dimensional Fund Advisors LP boosted its position in J. M. Smucker by 15.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,920,718 shares of the company’s stock worth $378,102,000 after acquiring an additional 528,418 shares during the last quarter. Invesco Ltd. grew its stake in shares of J. M. Smucker by 5.8% during the 4th quarter. Invesco Ltd. now owns 2,783,272 shares of the company’s stock worth $272,232,000 after acquiring an additional 151,872 shares in the last quarter. Morgan Stanley raised its holdings in shares of J. M. Smucker by 16.8% in the fourth quarter. Morgan Stanley now owns 2,486,596 shares of the company’s stock valued at $243,214,000 after purchasing an additional 357,253 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of J. M. Smucker by 6,854.4% in the third 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 in the last quarter. 81.66% of the stock is currently owned by institutional investors.

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.