Resona Asset Management Co. Ltd. Sells 31,219 Shares of The J. M. Smucker Company $SJM

Resona Asset Management Co. Ltd. lowered its position in shares of The J. M. Smucker Company (NYSE:SJM) by 55.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,509 shares of the company’s stock after selling 31,219 shares during the period. Resona Asset Management Co. Ltd.’s holdings in J. M. Smucker were worth $2,433,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Garton & Associates Financial Advisors LLC bought a new position in shares of J. M. Smucker during the fourth quarter valued at about $25,000. CYBER HORNET ETFs LLC purchased a new stake in shares of J. M. Smucker during the second quarter worth about $27,000. MCF Advisors LLC grew its stake in shares of J. M. Smucker by 68.1% in the fourth quarter. MCF Advisors LLC now owns 311 shares of the company’s stock worth $30,000 after purchasing an additional 126 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in J. M. Smucker during the 2nd quarter valued at about $31,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in J. M. Smucker during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Trading Down 0.9%

NYSE SJM opened at $110.65 on Tuesday. The firm has a market capitalization of $11.80 billion, a PE ratio of -85.12, a P/E/G ratio of 1.56 and a beta of 0.26. The stock’s 50 day moving average is $107.25 and its 200 day moving average is $103.79. The J. M. Smucker Company has a twelve month low of $88.25 and a twelve month 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 posted its quarterly earnings data on Tuesday, June 9th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.13. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.26 billion. J. M. Smucker had a positive return on equity of 17.18% and a negative net margin of 1.53%.The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.31 earnings per share. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. Research analysts forecast that The J. M. Smucker Company will post 9.95 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, May 15th. J. M. Smucker’s dividend payout ratio (DPR) is presently -338.46%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Morgan Stanley increased their price objective on J. M. Smucker from $106.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 10th. Bank of America boosted their target price on J. M. Smucker from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Evercore started coverage on J. M. Smucker in a research note on Friday, May 15th. They issued an “outperform” rating and a $117.00 price target for the company. Royal Bank Of Canada lifted their price target on shares of J. M. Smucker from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, June 10th. Finally, Weiss Ratings raised shares of J. M. Smucker from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, June 11th. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $121.13.

Insider Activity at J. M. Smucker

In related news, insider Jeannette L. Knudsen sold 5,550 shares of J. M. Smucker 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 completion of the transaction, the insider directly owned 16,039 shares of the company’s stock, valued at $1,865,175.31. This trade represents a 25.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Tucker H. Marshall sold 3,630 shares of the business’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 sale, the chief financial officer directly owned 38,699 shares in the company, valued at $4,297,523.95. The trade was a 8.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,533 shares of company stock valued at $2,132,914 in the last three months. Company insiders own 2.80% of the company’s stock.

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.