The J. M. Smucker Company (NYSE:SJM) Shares Sold by CI Investments Inc.

Posted by Defense World Staff on May 25th, 2023

CI Investments Inc. lowered its stake in shares of The J. M. Smucker Company (NYSE:SJM – Get Rating) by 50.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 979 shares of the company’s stock after selling 993 shares during the quarter. CI Investments Inc.’s holdings in J. M. Smucker were worth $155,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC acquired a new position in shares of J. M. Smucker during the second quarter valued at $27,000. Guardian Wealth Advisors LLC acquired a new position in J. M. Smucker during the 3rd quarter valued at about $29,000. Destiny Wealth Partners LLC grew its position in J. M. Smucker by 295.7% in the 4th quarter. Destiny Wealth Partners LLC now owns 182 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares during the last quarter. Beacon Capital Management LLC increased its stake in shares of J. M. Smucker by 224.2% in the fourth quarter. Beacon Capital Management LLC now owns 201 shares of the company’s stock valued at $32,000 after purchasing an additional 139 shares during the period. Finally, U.S. Capital Wealth Advisors LLC bought a new stake in shares of J. M. Smucker during the fourth quarter valued at approximately $32,000. 79.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Richard K. Smucker sold 26,294 shares of J. M. Smucker stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $150.04, for a total value of $3,945,151.76. Following the transaction, the director now directly owns 629,282 shares in the company, valued at approximately $94,417,471.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Richard K. Smucker sold 51,373 shares of J. M. Smucker stock in a transaction on Friday, March 24th. The stock was sold at an average price of $154.27, for a total transaction of $7,925,312.71. Following the transaction, the director now owns 640,409 shares in the company, valued at $98,795,896.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard K. Smucker sold 26,294 shares of J. M. Smucker stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $150.04, for a total value of $3,945,151.76. Following the transaction, the director now owns 629,282 shares in the company, valued at approximately $94,417,471.28. The disclosure for this sale can be found here. Insiders have sold 122,462 shares of company stock worth $18,744,753 in the last three months. 3.90% of the stock is currently owned by insiders.

J. M. Smucker Stock Down 0.6 %

SJM stock opened at $148.54 on Thursday. The firm has a market cap of $15.84 billion, a PE ratio of 22.37, a P/E/G ratio of 6.40 and a beta of 0.21. The J. M. Smucker Company has a 12 month low of $119.82 and a 12 month high of $163.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.16 and a quick ratio of 0.45. The firm has a 50 day simple moving average of $154.69 and a 200 day simple moving average of $152.81.

J. M. Smucker (NYSE:SJM – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.08. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.22 billion. J. M. Smucker had a return on equity of 11.10% and a net margin of 8.54%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.33 EPS. Equities research analysts forecast that The J. M. Smucker Company will post 8.68 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Friday, May 12th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Thursday, May 11th. J. M. Smucker’s payout ratio is 61.45%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SJM. StockNews.com began coverage on J. M. Smucker in a report on Thursday, May 18th. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised their price target on J. M. Smucker from $157.00 to $158.00 and gave the company a “neutral” rating in a report on Thursday, March 2nd. Argus raised shares of J. M. Smucker from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Monday, March 27th. 58.com reiterated a “maintains” rating on shares of J. M. Smucker in a research report on Thursday, May 18th. Finally, UBS Group upgraded shares of J. M. Smucker from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $132.00 to $155.00 in a research report on Friday, February 10th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, J. M. Smucker currently has a consensus rating of “Hold” and an average price target of $153.18.

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.