Meyer Handelman Co. Sells 9,862 Shares of The J. M. Smucker Company $SJM

Meyer Handelman Co. lessened its position in The J. M. Smucker Company (NYSE:SJM) by 70.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 4,111 shares of the company’s stock after selling 9,862 shares during the period. Meyer Handelman Co.’s holdings in J. M. Smucker were worth $396,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling

In other news, insider Jeannette L. Knudsen sold 5,550 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider owned 16,039 shares in the company, valued at $1,865,175.31. This trade represents a 25.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Tucker H. Marshall sold 3,630 shares of J. M. Smucker stock in a transaction that occurred on 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 trade represents a 8.58% decrease in their position. The SEC filing for this sale provides additional information. 2.24% of the stock is owned by corporate insiders.

J. M. Smucker Trading Up 2.7%

Shares of J. M. Smucker stock opened at $115.55 on Friday. The J. M. Smucker Company has a 1 year low of $88.25 and a 1 year high of $119.39. The firm has a market cap of $12.32 billion, a PE ratio of -88.88, a P/E/G ratio of 1.57 and a beta of 0.27. The stock has a fifty day moving average price of $103.45 and a 200-day moving average price of $102.74. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.78 and a quick ratio of 0.33.

J. M. Smucker (NYSE:SJM) last released its earnings results on Tuesday, June 9th. The company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.13. The company had revenue of $2.27 billion for the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.31 EPS. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. 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 announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders 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 dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, May 15th. J. M. Smucker’s dividend payout ratio is currently -338.46%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of J. M. Smucker from $103.00 to $115.00 and gave the company a “hold” rating in a report on Wednesday, June 10th. BNP Paribas Exane set a $125.00 target price on shares of J. M. Smucker in a report on Thursday, April 9th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $137.00 price target on shares of J. M. Smucker in a research report on Wednesday, June 10th. BTIG Research set a $130.00 price target on shares of J. M. Smucker in a research report on Wednesday, June 10th. Finally, Wells Fargo & Company set a $115.00 price target on J. M. Smucker in a research note on Wednesday, June 10th. Ten equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $121.13.

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.