UBS Group AG Lowers Holdings in The J. M. Smucker Company (NYSE:SJM)

Posted by on Feb 24th, 2023

UBS Group AG trimmed its holdings in The J. M. Smucker Company (NYSE:SJM – Get Rating) by 52.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,795 shares of the company’s stock after selling 80,590 shares during the quarter. UBS Group AG owned 0.07% of J. M. Smucker worth $10,002,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SJM. Fairfield Bush & CO. boosted its holdings in J. M. Smucker by 1.5% in the first quarter. Fairfield Bush & CO. now owns 30,551 shares of the company’s stock valued at $4,137,000 after purchasing an additional 461 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of J. M. Smucker by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,499 shares of the company’s stock worth $1,963,000 after acquiring an additional 898 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of J. M. Smucker by 1.7% during the 1st quarter. Allianz Asset Management GmbH now owns 339,555 shares of the company’s stock worth $45,980,000 after acquiring an additional 5,531 shares in the last quarter. National Pension Service boosted its stake in shares of J. M. Smucker by 1,012.2% during the 1st quarter. National Pension Service now owns 192,636 shares of the company’s stock worth $26,085,000 after acquiring an additional 175,315 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of J. M. Smucker by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 12,721,847 shares of the company’s stock worth $1,722,666,000 after acquiring an additional 162,944 shares in the last quarter. 79.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SJM. Credit Suisse Group increased their target price on shares of J. M. Smucker from $145.00 to $165.00 in a research note on Thursday, December 15th. Stifel Nicolaus increased their target price on shares of J. M. Smucker from $148.00 to $155.00 in a research note on Thursday, December 15th. Morgan Stanley upgraded shares of J. M. Smucker from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $135.00 to $158.00 in a research report on Tuesday, December 20th. Deutsche Bank Aktiengesellschaft upped their price target on shares of J. M. Smucker from $148.00 to $153.00 and gave the stock a “hold” rating in a research report on Tuesday, December 6th. Finally, Exane BNP Paribas started coverage on shares of J. M. Smucker in a research report on Tuesday, November 15th. They set an “underperform” rating for the company. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $149.70.

J. M. Smucker Stock Performance

NYSE SJM opened at $149.24 on Friday. The stock’s fifty day moving average is $153.38 and its two-hundred day moving average is $147.15. The firm has a market capitalization of $15.90 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 5.25 and a beta of 0.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.43 and a current ratio of 1.09. The J. M. Smucker Company has a fifty-two week low of $119.82 and a fifty-two week high of $163.07.

J. M. Smucker (NYSE:SJM – Get Rating) last released its quarterly earnings data on Monday, November 21st. The company reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.21. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. J. M. Smucker had a return on equity of 11.31% and a net margin of 7.01%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.43 earnings per share. On average, research analysts anticipate that The J. M. Smucker Company will post 8.66 earnings per share for the current year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, February 9th. J. M. Smucker’s dividend payout ratio (DPR) is currently 76.55%.

J. M. Smucker Profile

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The J. M. Smucker Co engages in the manufacture and marketing of food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes domestic sales of Folgers, Dunkin’ Donuts, and Café Bustelo branded coffee.

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Institutional Ownership by Quarter for J. M. Smucker (NYSE:SJM)

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