Czech National Bank Raises Holdings in The J. M. Smucker Company (NYSE:SJM)

Posted by Defense World Staff on Mar 27th, 2023

Czech National Bank boosted its holdings in shares of The J. M. Smucker Company (NYSE:SJM – Get Rating) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,476 shares of the company’s stock after buying an additional 92 shares during the quarter. Czech National Bank’s holdings in J. M. Smucker were worth $1,977,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new stake in J. M. Smucker in the third quarter valued at approximately $41,973,000. National Pension Service boosted its stake in J. M. Smucker by 1,012.2% in the first quarter. National Pension Service now owns 192,636 shares of the company’s stock valued at $26,085,000 after acquiring an additional 175,315 shares in the last quarter. Vanguard Group Inc. boosted its stake in J. M. Smucker by 1.3% in the first quarter. Vanguard Group Inc. now owns 12,721,847 shares of the company’s stock valued at $1,722,666,000 after acquiring an additional 162,944 shares in the last quarter. Mane Global Capital Management LP acquired a new stake in J. M. Smucker in the third quarter valued at approximately $19,855,000. Finally, Invesco Ltd. boosted its stake in J. M. Smucker by 8.3% in the first quarter. Invesco Ltd. now owns 1,820,578 shares of the company’s stock valued at $246,525,000 after acquiring an additional 139,158 shares in the last quarter. 79.21% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Trading Up 2.4 %

Shares of NYSE:SJM opened at $154.69 on Monday. The J. M. Smucker Company has a 52 week low of $119.82 and a 52 week high of $163.07. The company’s 50 day moving average is $150.21 and its two-hundred day moving average is $149.01. The company has a current ratio of 1.16, a quick ratio of 0.45 and a debt-to-equity ratio of 0.52. The company has a market cap of $16.50 billion, a PE ratio of 23.30, a P/E/G ratio of 4.46 and a beta of 0.21.

J. M. Smucker (NYSE:SJM – Get Rating) last issued its quarterly earnings results on Tuesday, February 28th. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.08. J. M. Smucker had a net margin of 8.54% and a return on equity of 11.10%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the prior year, the business earned $2.33 EPS. J. M. Smucker’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts predict that The J. M. Smucker Company will post 8.67 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were issued a $1.02 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.64%. J. M. Smucker’s dividend payout ratio is presently 61.45%.

Analysts Set New Price Targets

SJM has been the subject of several research reports. Credit Suisse Group lifted their price objective on shares of J. M. Smucker from $145.00 to $165.00 in a research note on Thursday, December 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of J. M. Smucker from $153.00 to $159.00 and gave the company a “hold” rating in a report on Monday, March 20th. StockNews.com began coverage on shares of J. M. Smucker in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Stifel Nicolaus upped their target price on shares of J. M. Smucker from $148.00 to $155.00 in a research note on Thursday, December 15th. Finally, UBS Group raised shares of J. M. Smucker from a “sell” rating to a “neutral” rating and upped their target price for the stock from $132.00 to $155.00 in a research note on Friday, February 10th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $150.30.

Insider Buying and Selling at J. M. Smucker

In other J. M. Smucker news, insider Jeannette L. Knudsen sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $153.96, for a total transaction of $1,539,600.00. Following the completion of the transaction, the insider now directly owns 17,561 shares in the company, valued at approximately $2,703,691.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other J. M. Smucker news, CEO Mark T. Smucker sold 30,000 shares of J. M. Smucker stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $153.41, for a total transaction of $4,602,300.00. Following the transaction, the chief executive officer now directly owns 110,260 shares of the company’s stock, valued at $16,914,986.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeannette L. Knudsen sold 10,000 shares of J. M. Smucker stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $153.96, for a total transaction of $1,539,600.00. Following the transaction, the insider now directly owns 17,561 shares in the company, valued at $2,703,691.56. The disclosure for this sale can be found here. In the last three months, insiders sold 71,089 shares of company stock worth $10,819,440. 3.90% of the stock is owned by corporate insiders.

J. M. Smucker Company 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.