State of Michigan Retirement System Sells 6,422 Shares of The J. M. Smucker Company $SJM

State of Michigan Retirement System lessened its holdings in The J. M. Smucker Company (NYSE:SJM) by 18.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 27,839 shares of the company’s stock after selling 6,422 shares during the period. State of Michigan Retirement System’s holdings in J. M. Smucker were worth $2,685,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Garton & Associates Financial Advisors LLC purchased a new position in shares of J. M. Smucker in 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. Fideuram Asset Management Ireland dac bought a new stake in J. M. Smucker during the 4th quarter valued at approximately $32,000. MCF Advisors LLC lifted its holdings in J. M. Smucker by 68.1% in the 4th quarter. MCF Advisors LLC now owns 311 shares of the company’s stock worth $30,000 after purchasing an additional 126 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new position in J. M. Smucker in the 2nd quarter worth approximately $31,000. 81.66% of the stock is owned by institutional investors.

J. M. Smucker Price Performance

Shares of J. M. Smucker stock opened at $111.95 on Friday. The firm has a market cap of $11.94 billion, a PE ratio of -86.12, a PEG ratio of 1.59 and a beta of 0.26. The stock has a 50 day moving average of $108.28 and a 200 day moving average of $104.08. 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 J. M. Smucker Company has a 12 month low of $88.25 and a 12 month high of $119.39.

J. M. Smucker (NYSE:SJM) last released 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 for 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 company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.31 EPS. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. On average, research analysts expect that The J. M. Smucker Company will post 9.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SJM has been the subject of a number of research analyst reports. BNP Paribas Exane set a $125.00 price objective on shares of J. M. Smucker in a report on Thursday, April 9th. JPMorgan Chase & Co. boosted their target price on shares of J. M. Smucker from $120.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Evercore initiated coverage on shares of J. M. Smucker in a research report on Friday, May 15th. They set an “outperform” rating and a $117.00 target price for the company. Wells Fargo & Company set a $115.00 target price on shares of J. M. Smucker in a research note on Wednesday, June 10th. Finally, Stifel Nicolaus cut their target price on shares of J. M. Smucker from $120.00 to $100.00 and set a “hold” rating for the company in a research note on Tuesday, April 21st. Nine investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, J. M. Smucker has an average 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 the company’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 owned 16,039 shares of the company’s stock, valued at $1,865,175.31. This represents a 25.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Tucker H. Marshall sold 3,630 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $111.05, for a total transaction of $403,111.50. Following the transaction, the chief financial officer owned 38,699 shares of the company’s stock, 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. Over the last ninety days, insiders sold 18,533 shares of company stock valued at $2,132,914. 2.80% of the stock is owned by corporate insiders.

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.