The J. M. Smucker Company (NYSE:SJM) Shares Sold by Macquarie Group Ltd.

Posted by Defense World Staff on Sep 20th, 2023

Macquarie Group Ltd. lessened its holdings in shares of The J. M. Smucker Company (NYSE:SJM – Free Report) by 40.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 14,109 shares of the company’s stock after selling 9,498 shares during the quarter. Macquarie Group Ltd.’s holdings in J. M. Smucker were worth $2,106,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Eagle Bay Advisors LLC bought a new position in J. M. Smucker in the 2nd quarter valued at about $27,000. Massmutual Trust Co. FSB ADV increased its stake in shares of J. M. Smucker by 59.8% during the first quarter. Massmutual Trust Co. FSB ADV now owns 187 shares of the company’s stock valued at $29,000 after acquiring an additional 70 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in J. M. Smucker during the fourth quarter worth approximately $30,000. Clear Street Markets LLC lifted its position in J. M. Smucker by 97.2% in the first quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock worth $33,000 after purchasing an additional 104 shares during the period. Finally, Sunbelt Securities Inc. bought a new position in J. M. Smucker during the 1st quarter valued at $33,000. Institutional investors own 79.08% of the company’s stock.

Analyst Ratings Changes

SJM has been the topic of a number of research reports. StockNews.com started coverage on J. M. Smucker in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. 58.com reaffirmed a “maintains” rating on shares of J. M. Smucker in a research report on Thursday, June 8th. Barclays dropped their price target on J. M. Smucker from $165.00 to $160.00 in a research note on Thursday, June 8th. TheStreet cut shares of J. M. Smucker from an “a-” rating to a “c+” rating in a report on Tuesday, June 6th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of J. M. Smucker from $157.00 to $135.00 and set a “hold” rating on the stock in a report on Tuesday, September 12th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $148.50.

Read Our Latest Stock Report on J. M. Smucker

J. M. Smucker Price Performance

SJM opened at $127.36 on Wednesday. The J. M. Smucker Company has a 1 year low of $125.23 and a 1 year high of $163.07. The stock has a fifty day moving average price of $143.80 and a 200 day moving average price of $149.32. The company has a current ratio of 1.28, a quick ratio of 0.72 and a debt-to-equity ratio of 0.62. The stock has a market cap of $13.01 billion, a price-to-earnings ratio of -749.18, a PEG ratio of 2.00 and a beta of 0.23.

J. M. Smucker (NYSE:SJM – Get Free Report) last posted its earnings results on Tuesday, August 29th. The company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.19. J. M. Smucker had a negative net margin of 0.21% and a positive return on equity of 12.96%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the company earned $1.67 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. Analysts forecast that The J. M. Smucker Company will post 9.71 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.33%. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Thursday, August 17th. J. M. Smucker’s dividend payout ratio (DPR) is presently -2,494.12%.

Insider Buying and Selling

In other J. M. Smucker news, insider Amy C. Held sold 9,917 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $143.80, for a total transaction of $1,426,064.60. Following the transaction, the insider now owns 5,972 shares in the company, valued at $858,773.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Richard K. Smucker sold 19,576 shares of J. M. Smucker stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $151.95, for a total value of $2,974,573.20. Following the transaction, the director now directly owns 623,605 shares in the company, valued at $94,756,779.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Amy C. Held sold 9,917 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $143.80, for a total value of $1,426,064.60. Following the sale, the insider now owns 5,972 shares of the company’s stock, valued at approximately $858,773.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,500 shares of company stock worth $4,401,613. 3.50% of the stock is currently owned by insiders.

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.