SouthState Corp Trims Position in The J. M. Smucker Company (NYSE:SJM)

SouthState Corp reduced its holdings in The J. M. Smucker Company (NYSE:SJM) by 20.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,858 shares of the company’s stock after selling 490 shares during the period. SouthState Corp’s holdings in J. M. Smucker were worth $205,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SJM. FMR LLC boosted its holdings in J. M. Smucker by 40.0% in the third quarter. FMR LLC now owns 3,353,996 shares of the company’s stock valued at $406,169,000 after purchasing an additional 958,142 shares during the last quarter. State Street Corp lifted its holdings in shares of J. M. Smucker by 12.0% in the 3rd quarter. State Street Corp now owns 7,111,023 shares of the company’s stock valued at $861,145,000 after buying an additional 762,746 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of J. M. Smucker by 891.3% in the third quarter. Thrivent Financial for Lutherans now owns 579,903 shares of the company’s stock worth $70,226,000 after buying an additional 521,404 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in J. M. Smucker during the fourth quarter worth about $32,988,000. Finally, Amundi raised its position in J. M. Smucker by 49.3% during the fourth quarter. Amundi now owns 628,381 shares of the company’s stock valued at $66,250,000 after acquiring an additional 207,477 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Up 0.3 %

SJM opened at $111.89 on Tuesday. The company has a market cap of $11.91 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 3.91 and a beta of 0.28. The J. M. Smucker Company has a twelve month low of $98.77 and a twelve month high of $127.59. The company has a 50-day moving average price of $106.58 and a 200 day moving average price of $112.56. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89.

J. M. Smucker (NYSE:SJM) last released its earnings results on Thursday, February 27th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.24. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.23 billion. Sell-side analysts expect that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $1.08 per share. The ex-dividend date was Friday, February 14th. This represents a $4.32 annualized dividend and a yield of 3.86%. J. M. Smucker’s dividend payout ratio (DPR) is presently -179.25%.

Insider Activity

In related news, CFO Tucker H. Marshall sold 5,028 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $113.36, for a total transaction of $569,974.08. Following the transaction, the chief financial officer now directly owns 13,263 shares in the company, valued at approximately $1,503,493.68. The trade was a 27.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. TD Cowen lowered J. M. Smucker from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $130.00 to $121.00 in a research report on Wednesday, January 8th. DA Davidson lowered their price target on shares of J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. Stifel Nicolaus lowered their target price on shares of J. M. Smucker from $125.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Finally, Barclays cut their price target on J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $126.00.

J. M. Smucker Company Profile

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.