First Republic Investment Management Inc. Boosts Holdings in The J. M. Smucker Company (NYSE:SJM)

Posted by Defense World Staff on Sep 8th, 2023

First Republic Investment Management Inc. boosted its stake in The J. M. Smucker Company (NYSE:SJM – Free Report) by 1.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 15,475 shares of the company’s stock after purchasing an additional 197 shares during the period. First Republic Investment Management Inc.’s holdings in J. M. Smucker were worth $2,435,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SJM. Two Sigma Investments LP raised its stake in J. M. Smucker by 192.9% in the 4th quarter. Two Sigma Investments LP now owns 368,238 shares of the company’s stock valued at $58,351,000 after acquiring an additional 242,517 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in J. M. Smucker in the 1st quarter worth approximately $597,000. O Shaughnessy Asset Management LLC grew its stake in J. M. Smucker by 4.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 15,770 shares of the company’s stock valued at $2,499,000 after buying an additional 710 shares in the last quarter. Impax Asset Management Group plc raised its holdings in J. M. Smucker by 92.0% during the 1st quarter. Impax Asset Management Group plc now owns 5,141 shares of the company’s stock valued at $809,000 after acquiring an additional 2,463 shares during the period. Finally, Citigroup Inc. lifted its position in shares of J. M. Smucker by 20.4% during the fourth quarter. Citigroup Inc. now owns 197,807 shares of the company’s stock worth $31,345,000 after acquiring an additional 33,548 shares in the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at J. M. Smucker

In other J. M. Smucker news, insider Jill R. Penrose sold 3,009 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $153.65, for a total transaction of $462,332.85. Following the transaction, the insider now owns 6,058 shares in the company, valued at approximately $930,811.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other J. M. Smucker news, insider Jill R. Penrose sold 3,009 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $153.65, for a total value of $462,332.85. Following the sale, the insider now owns 6,058 shares in the company, valued at $930,811.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Amy C. Held sold 9,917 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $143.80, for a total value of $1,426,064.60. Following the completion of the sale, the insider now directly owns 5,972 shares in the company, valued at $858,773.60. The disclosure for this sale can be found here. Insiders have sold 42,474 shares of company stock worth $6,381,615 over the last 90 days. 3.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SJM shares. The Goldman Sachs Group lifted their price target on J. M. Smucker from $129.00 to $130.00 in a research report on Tuesday, August 29th. TheStreet downgraded shares of J. M. Smucker from an “a-” rating to a “c+” rating in a report on Tuesday, June 6th. Bank of America boosted their price objective on shares of J. M. Smucker from $168.00 to $170.00 in a research note on Wednesday, June 7th. Stifel Nicolaus lowered their price objective on J. M. Smucker from $160.00 to $150.00 and set a “hold” rating on the stock in a research report on Wednesday, August 30th. Finally, UBS Group reduced their target price on J. M. Smucker from $159.00 to $157.00 in a research report on Wednesday, May 31st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $154.23.

Read Our Latest Stock Report on SJM

J. M. Smucker Stock Performance

J. M. Smucker stock opened at $140.34 on Friday. The J. M. Smucker Company has a 1-year low of $135.44 and a 1-year high of $163.07. The firm has a market cap of $14.33 billion, a P/E ratio of -825.53, a P/E/G ratio of 2.46 and a beta of 0.23. The company has a current ratio of 1.28, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average of $146.77 and a 200-day moving average of $150.35.

J. M. Smucker (NYSE:SJM – Get Free Report) last issued its quarterly earnings data on Tuesday, August 29th. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.19. J. M. Smucker had a positive return on equity of 12.96% and a negative net margin of 0.21%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the company earned $1.67 EPS. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. Sell-side analysts expect that The J. M. Smucker Company will post 9.74 EPS for the current year.

J. M. Smucker Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a dividend of $1.06 per share. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.02. The ex-dividend date was Thursday, August 17th. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.02%. J. M. Smucker’s payout ratio is presently -2,494.12%.

J. M. Smucker Company 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.