Assenagon Asset Management S.A. Sells 125,108 Shares of The J. M. Smucker Company $SJM

Assenagon Asset Management S.A. trimmed its position in shares of The J. M. Smucker Company (NYSE:SJM) by 46.9% during the first quarter, HoldingsChannel reports. The firm owned 141,435 shares of the company’s stock after selling 125,108 shares during the quarter. Assenagon Asset Management S.A.’s holdings in J. M. Smucker were worth $13,640,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS Group AG raised its stake in J. M. Smucker by 238.7% during the 4th quarter. UBS Group AG now owns 3,924,282 shares of the company’s stock worth $383,834,000 after buying an additional 2,765,559 shares during the period. Two Sigma Investments LP grew its position in shares of J. M. Smucker by 6,854.4% in the 3rd quarter. Two Sigma Investments LP now owns 1,527,962 shares of the company’s stock valued at $165,937,000 after purchasing an additional 1,505,991 shares during the period. National Bank of Canada FI grew its position in shares of J. M. Smucker by 797.4% in the 3rd quarter. National Bank of Canada FI now owns 1,401,173 shares of the company’s stock valued at $152,167,000 after purchasing an additional 1,245,035 shares during the period. Capitolis Liquid Global Markets LLC bought a new stake in J. M. Smucker during the 3rd quarter worth approximately $112,944,000. Finally, Norges Bank bought a new stake in J. M. Smucker during the 4th quarter worth approximately $92,960,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Insider Activity

In related news, insider Jeannette L. Knudsen sold 5,550 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was 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 in the company, valued at approximately $1,865,175.31. This represents a 25.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Tucker H. Marshall sold 3,630 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $111.05, for a total value of $403,111.50. Following the transaction, the chief financial officer directly owned 38,699 shares of the company’s stock, valued at $4,297,523.95. This trade represents a 8.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SJM shares. Weiss Ratings raised shares of J. M. Smucker from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, June 11th. JPMorgan Chase & Co. increased their price objective on shares of J. M. Smucker from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Evercore initiated coverage on shares of J. M. Smucker in a report on Friday, May 15th. They set an “outperform” rating and a $117.00 price objective on the stock. BNP Paribas Exane set a $125.00 price objective on shares of J. M. Smucker in a research report on Thursday, April 9th. Finally, TD Cowen upped their target price on shares of J. M. Smucker from $103.00 to $115.00 and gave the stock a “hold” rating in a research note on Wednesday, June 10th. Ten analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $121.13.

J. M. Smucker Price Performance

NYSE SJM opened at $115.55 on Friday. The firm’s 50 day moving average is $103.45 and its 200-day moving average is $102.74. The company has a quick ratio of 0.33, a current ratio of 0.78 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $12.32 billion, a PE ratio of -88.88, a price-to-earnings-growth ratio of 1.61 and a beta of 0.27. 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 announced its earnings results on Tuesday, June 9th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.64 by $0.13. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.26 billion. J. M. Smucker had a negative net margin of 1.53% and a positive return on equity of 17.18%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.31 earnings per share. 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 9.96 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid 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 was Friday, May 15th. J. M. Smucker’s dividend payout ratio is currently -338.46%.

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.