Balyasny Asset Management L.P. Cuts Stock Position in The J. M. Smucker Company $SJM

Balyasny Asset Management L.P. lessened its holdings in The J. M. Smucker Company (NYSE:SJM) by 17.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,583,041 shares of the company’s stock after selling 346,185 shares during the period. Balyasny Asset Management L.P. owned 1.48% of J. M. Smucker worth $154,837,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of SJM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $2,286,000 after purchasing an additional 1,763 shares in the last quarter. United Services Automobile Association purchased a new position in J. M. Smucker in the 1st quarter worth approximately $253,000. Empowered Funds LLC lifted its holdings in J. M. Smucker by 28.6% in the 1st 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 in the last quarter. Woodline Partners LP lifted its holdings in J. M. Smucker by 40.7% in the 1st quarter. Woodline Partners LP now owns 8,990 shares of the company’s stock worth $1,065,000 after purchasing an additional 2,600 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in J. M. Smucker by 6.7% in the 2nd quarter. American Century Companies Inc. now owns 2,209 shares of the company’s stock worth $217,000 after purchasing an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SJM shares. BTIG Research set a $130.00 price target on J. M. Smucker in a report on Wednesday, June 10th. Wall Street Zen raised J. M. Smucker from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Wells Fargo & Company set a $115.00 price objective on J. M. Smucker in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $95.00 price objective on shares of J. M. Smucker in a report on Wednesday, May 20th. Finally, Royal Bank Of Canada upped their price objective on J. M. Smucker from $130.00 to $135.00 and gave the stock an “outperform” rating in a report 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, J. M. Smucker has an average rating of “Hold” and a consensus price target of $121.13.

J. M. Smucker Stock Performance

NYSE SJM opened at $112.87 on Thursday. The company has a market cap of $12.04 billion, a P/E ratio of -86.82, a P/E/G ratio of 1.62 and a beta of 0.27. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.33 and a current ratio of 0.78. The business’s 50 day moving average price is $100.80 and its 200-day moving average price is $102.25. The J. M. Smucker Company has a fifty-two week low of $88.25 and a fifty-two week high of $119.39.

J. M. Smucker (NYSE:SJM) last released its earnings results on Tuesday, June 9th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.13. The firm 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 for the quarter 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. Sell-side analysts predict that The J. M. Smucker Company will post 9.95 earnings per share 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. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.40 annualized dividend and a dividend yield of 3.9%. J. M. Smucker’s payout ratio is currently -338.46%.

Insider Buying and Selling at J. M. Smucker

In other news, insider Jeannette L. Knudsen sold 5,550 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $116.29, for a total transaction of $645,409.50. Following the transaction, the insider owned 16,039 shares of the company’s stock, valued at approximately $1,865,175.31. The trade was a 25.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.24% of the company’s stock.

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.