Public Employees Retirement System of Ohio Acquires New Position in The J. M. Smucker Company $SJM

Public Employees Retirement System of Ohio bought a new position in shares of The J. M. Smucker Company (NYSE:SJM) during the second quarter, HoldingsChannel.com reports. The firm bought 29,787 shares of the company’s stock, valued at approximately $3,351,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SJM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in J. M. Smucker by 10.0% in the 1st 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 last quarter. United Services Automobile Association acquired a new stake in shares of J. M. Smucker during the first quarter worth $253,000. Empowered Funds LLC boosted its holdings in shares of J. M. Smucker by 28.6% during the first 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 grew its position in shares of 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. grew its position 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 purchasing an additional 138 shares during the period. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Weiss Ratings upgraded J. M. Smucker from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 26th. Jefferies Financial Group upped their price objective on shares of J. M. Smucker from $129.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. UBS Group increased their price objective on shares of J. M. Smucker from $130.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Sanford C. Bernstein raised their target price on shares of J. M. Smucker from $137.00 to $157.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Finally, Wall Street Zen upgraded shares of J. M. Smucker from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, J. M. Smucker currently has an average rating of “Moderate Buy” and a consensus target price of $136.25.

Insider Buying and Selling

In related news, insider Jeannette L. Knudsen sold 4,353 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $115.08, for a total transaction of $500,943.24. Following the sale, the insider directly owned 16,835 shares in the company, valued at approximately $1,937,371.80. This trade represents a 20.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert D. Ferguson sold 2,522 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $132.41, for a total value of $333,938.02. Following the transaction, the insider directly owned 36,295 shares in the company, valued at $4,805,820.95. This trade represents a 6.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 39,537 shares of company stock worth $4,907,400 over the last three months. 2.80% of the stock is currently owned by corporate insiders.

J. M. Smucker Price Performance

J. M. Smucker stock opened at $126.17 on Friday. The J. M. Smucker Company has a 52-week low of $88.25 and a 52-week high of $135.89. The firm has a fifty day moving average of $119.53 and a 200-day moving average of $108.83. The firm has a market capitalization of $13.48 billion, a P/E ratio of 58.96, a PEG ratio of 1.65 and a beta of 0.27. The company has a quick ratio of 0.35, a current ratio of 0.87 and a debt-to-equity ratio of 1.11.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Wednesday, August 26th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.22 by $1.02. J. M. Smucker had a net margin of 2.51% and a return on equity of 19.85%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the business posted $1.90 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. J. M. Smucker has set its FY 2027 guidance at 10.500-11.000 EPS. As a group, analysts predict that The J. M. Smucker Company will post 10.71 EPS for the current year.

J. M. Smucker Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were paid a dividend of $1.12 per share. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.10. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Friday, August 14th. J. M. Smucker’s payout ratio is presently 209.35%.

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.