The J. M. Smucker Company (NYSE:SJM) Shares Sold by Van ECK Associates Corp

Posted by Defense World Staff on Aug 8th, 2023

Van ECK Associates Corp trimmed its stake in The J. M. Smucker Company (NYSE:SJM – Free Report) by 52.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,393 shares of the company’s stock after selling 2,672 shares during the quarter. Van ECK Associates Corp’s holdings in J. M. Smucker were worth $377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SJM. Park National Corp OH raised its holdings in J. M. Smucker by 2.0% in the 1st quarter. Park National Corp OH now owns 3,456 shares of the company’s stock valued at $544,000 after acquiring an additional 67 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in J. M. Smucker by 59.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 187 shares of the company’s stock valued at $29,000 after purchasing an additional 70 shares during the last quarter. Alaska Permanent Fund Corp lifted its position in J. M. Smucker by 0.6% during the fourth quarter. Alaska Permanent Fund Corp now owns 11,764 shares of the company’s stock worth $1,865,000 after buying an additional 72 shares during the period. Kinneret Advisory LLC boosted its stake in J. M. Smucker by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 3,302 shares of the company’s stock worth $447,000 after buying an additional 74 shares during the last quarter. Finally, Synovus Financial Corp grew its holdings in J. M. Smucker by 2.9% in the 4th quarter. Synovus Financial Corp now owns 2,715 shares of the company’s stock valued at $430,000 after buying an additional 76 shares during the period. 75.58% of the stock is currently owned by hedge funds and other institutional investors.

J. M. Smucker Price Performance

Shares of SJM stock opened at $149.13 on Tuesday. The firm has a fifty day simple moving average of $149.79 and a 200-day simple moving average of $151.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.93 and a current ratio of 1.44. The J. M. Smucker Company has a twelve month low of $132.40 and a twelve month high of $163.07.

J. M. Smucker (NYSE:SJM – Get Free Report) last issued its quarterly earnings results on Tuesday, June 6th. The company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.23. J. M. Smucker had a positive return on equity of 11.89% and a negative net margin of 1.07%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the prior year, the business posted $2.23 earnings per share. J. M. Smucker’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities analysts expect that The J. M. Smucker Company will post 9.52 EPS for the current year.

J. M. Smucker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a $1.06 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $4.24 annualized dividend and a dividend yield of 2.84%. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.02. J. M. Smucker’s payout ratio is presently -438.71%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. 58.com reissued a “maintains” rating on shares of J. M. Smucker in a research report on Thursday, June 8th. Barclays lowered their price objective on shares of J. M. Smucker from $165.00 to $160.00 in a research note on Thursday, June 8th. Deutsche Bank Aktiengesellschaft cut their target price on J. M. Smucker from $158.00 to $152.00 in a research report on Monday, June 12th. StockNews.com initiated coverage on J. M. Smucker in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, TheStreet downgraded J. M. Smucker from an “a-” rating to a “c+” rating in a report on Tuesday, June 6th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, J. M. Smucker has an average rating of “Hold” and a consensus target price of $154.42.

Get Our Latest Report on SJM

Insider Activity

In related news, COO John P. Brase sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $148.86, for a total value of $1,488,600.00. Following the completion of the sale, the chief operating officer now directly owns 15,780 shares of the company’s stock, valued at $2,349,010.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other J. M. Smucker news, COO John P. Brase sold 10,000 shares of the stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $148.86, for a total transaction of $1,488,600.00. Following the sale, the chief operating officer now directly owns 15,780 shares of the company’s stock, valued at $2,349,010.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard K. Smucker sold 19,576 shares of J. M. Smucker stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $151.95, for a total transaction of $2,974,573.20. Following the completion of the transaction, the director now directly owns 623,605 shares of the company’s stock, valued at $94,756,779.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,550 shares of company stock worth $6,443,176. 3.50% of the stock is currently owned by corporate insiders.

J. M. Smucker Profile

(Free Report)

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in three segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, toppings, and syrups; jelly products; nut mix products; shortening and oils; frozen sandwiches and snacks; pet food and pet snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, juices and beverages, and baking mixes and ingredients.