Pictet Asset Management Holding SA Decreases Stock Position in The J. M. Smucker Company $SJM

Pictet Asset Management Holding SA trimmed its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 72.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,432 shares of the company’s stock after selling 56,618 shares during the period. Pictet Asset Management Holding SA’s holdings in J. M. Smucker were worth $2,067,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SJM. UBS Group AG raised its stake in shares of J. M. Smucker by 238.7% in the fourth quarter. UBS Group AG now owns 3,924,282 shares of the company’s stock worth $383,834,000 after purchasing an additional 2,765,559 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of J. M. Smucker by 33.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,392,300 shares of the company’s stock valued at $331,807,000 after buying an additional 850,943 shares during the last quarter. Invesco Ltd. increased its holdings in J. M. Smucker by 5.8% in the 4th quarter. Invesco Ltd. now owns 2,783,272 shares of the company’s stock worth $272,232,000 after buying an additional 151,872 shares in the last quarter. Morgan Stanley increased its holdings in J. M. Smucker by 16.8% in the 4th quarter. Morgan Stanley now owns 2,486,596 shares of the company’s stock worth $243,214,000 after buying an additional 357,253 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in J. M. Smucker by 6,854.4% in the 3rd quarter. Two Sigma Investments LP now owns 1,527,962 shares of the company’s stock worth $165,937,000 after buying an additional 1,505,991 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jill R. Penrose sold 5,000 shares of J. M. Smucker stock in a transaction on Monday, June 29th. The shares were sold at an average price of $116.69, for a total transaction of $583,450.00. Following the transaction, the insider owned 15,795 shares in the company, valued at $1,843,118.55. This trade represents a 24.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeannette L. Knudsen sold 5,550 shares of J. M. Smucker stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $116.29, for a total transaction of $645,409.50. Following the transaction, the insider owned 16,039 shares in the company, valued at $1,865,175.31. This represents a 25.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 18,533 shares of company stock worth $2,132,914. Company insiders own 2.80% of the company’s stock.

J. M. Smucker Trading Up 0.0%

J. M. Smucker stock opened at $116.32 on Monday. The J. M. Smucker Company has a 52-week low of $88.25 and a 52-week high of $119.39. The company has a market cap of $12.41 billion, a P/E ratio of -89.48, a P/E/G ratio of 1.62 and a beta of 0.26. The company has a quick ratio of 0.33, a current ratio of 0.78 and a debt-to-equity ratio of 1.15. The business has a 50-day simple moving average of $105.45 and a two-hundred day simple moving average of $103.27.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.13. The firm had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.26 billion. J. M. Smucker had a negative net margin of 1.53% and a positive return on equity of 17.18%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.31 EPS. J. M. Smucker has set its FY 2027 guidance at 9.750-10.250 EPS. Analysts predict that The J. M. Smucker Company will post 9.95 EPS for the current year.

J. M. Smucker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a $1.10 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.40 annualized dividend and a yield of 3.8%. J. M. Smucker’s dividend payout ratio (DPR) is presently -338.46%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. UBS Group upped their target price on shares of J. M. Smucker from $121.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $95.00 price target on shares of J. M. Smucker in a research note on Wednesday, May 20th. Wells Fargo & Company set a $115.00 price objective on shares of J. M. Smucker in a research report on Wednesday, June 10th. Evercore assumed coverage on shares of J. M. Smucker in a report on Friday, May 15th. They issued an “outperform” rating and a $117.00 target price on the stock. Finally, BNP Paribas Exane set a $125.00 target price on shares of J. M. Smucker in a research report on Thursday, April 9th. Ten equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $121.13.

J. M. Smucker Profile

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company’s main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker’s core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker’s® fruit spreads, Jif® peanut butter, Folgers® and Dunkin’® coffees, and Café Bustelo® coffee.