HB Wealth Management LLC Increases Holdings in JM Smucker Company (NYSE:SJM)

VaselineAugust 30, 2024

0 4 minutes read

HB Wealth Management LLC boosted its stake in The JM Smucker Company (NYSE:SJM – Free Report) by 27.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,979 shares of the company’s stock after purchasing an additional 865 shares during the quarter. HB Wealth Management LLC’s holdings in JM Smucker were worth $434,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in shares of JM Smucker by 298.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 20,270 shares of the company’s stock valued at $2,562,000 after purchasing an additional 15,182 shares. of shares during the period. California State Teachers Retirement System raised its position in JM Smucker by 5.5% in the fourth quarter. California State Teachers Retirement System now owns 170,552 shares of the company’s stock worth $21,554,000 after purchasing an additional 8,960 shares in the last quarter. Vanguard Group Inc. boosted its stake in JM Smucker by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock valued at $1,702,515,000 after buying an additional 518,433 shares during the period. AMF Tjanstepension AB purchased a new position in shares of JM Smucker in the first quarter valued at $23,990,000. Finally, Cantor Fitzgerald Investment Advisors LP bought a new position in shares of JM Smucker in the 4th quarter worth $14,198,000. Hedge funds and other institutional investors own 81.66% of the company’s shares.

The Wall Street analyst weighs in

SJM has been the subject of a number of research reports. Argus reduced their price objective on JM Smucker from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, June 13th. DA Davidson reissued a “neutral” rating and issued a $121.00 target price on shares of JM Smucker in a research report on Thursday. Citigroup cut their price objective on shares of JM Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a report on Thursday. StockNews.com raised shares of JM Smucker from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Barclays decreased their price target on JM Smucker from $132.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. JM Smucker currently has a consensus rating of “Hold” and an average price target of $129.46, based on data from MarketBeat.

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See our latest report on SJM

JM Smucker trades down 0.8%

Shares of SJM stock opened at $113.79 on Friday. The company has a market cap of $12.08 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 2.42 and a beta of 0.25. JM Smucker Company has a 52-week low of $105.69 and a 52-week high of $146.29. The company’s fifty-day moving average is $115.92, and its 200-day moving average is $116.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.25, and a current ratio of 0.52.

JM Smucker (NYSE:SJM – Get Your Free Report ) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.26. JM Smucker had a return on equity of 14.15% and a net margin of 9.10%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. In the same quarter last year, the firm posted EPS of $2.21. The company’s revenue was up 17.7% compared to the same quarter last year. On average, equities research analysts anticipate that The JM Smucker Company will post 10.05 EPS for the current fiscal year.

JM Smucker Raises Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be paid a dividend of $1.08 per share. The ex-dividend date is Friday, August 16. This is a positive change from JM Smucker’s previous quarterly dividend of $1.06. This represents an annualized dividend of $4.32 and a yield of 3.80%. JM Smucker’s payout ratio is currently 60.67%.

Insiders place their bets

In other news, CEO Mark T. Smucker sold 10,000 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the sale, the chief executive officer now owns 78,757 shares in the company, valued at approximately $8,675,871.12. The transaction was disclosed in a filing with the SEC, which is accessible via this link. Corporate insiders own 3.40% of the company’s shares.

JM Smucker Profile

(Free report)

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