SouthState Corp Reduces Stake in The J. M. Smucker Company (NYSE:SJM)

SouthState Corp lessened its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 20.9% during the 4th quarter, Holdings Channel reports. The fund owned 1,858 shares of the company’s stock after selling 490 shares during the quarter. SouthState Corp’s holdings in J. M. Smucker were worth $205,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Creative Financial Designs Inc. ADV raised its stake in J. M. Smucker by 4.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 14,345 shares of the company’s stock worth $1,580,000 after purchasing an additional 642 shares during the period. Harbour Investments Inc. raised its position in shares of J. M. Smucker by 12.9% during the 4th quarter. Harbour Investments Inc. now owns 10,032 shares of the company’s stock valued at $1,105,000 after buying an additional 1,149 shares during the period. Corient Private Wealth LLC lifted its holdings in J. M. Smucker by 6.5% in the fourth quarter. Corient Private Wealth LLC now owns 55,767 shares of the company’s stock valued at $6,141,000 after acquiring an additional 3,407 shares during the last quarter. Greenwich Wealth Management LLC grew its position in J. M. Smucker by 4.8% in the fourth quarter. Greenwich Wealth Management LLC now owns 5,601 shares of the company’s stock worth $617,000 after acquiring an additional 254 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in J. M. Smucker by 7.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 103,593 shares of the company’s stock worth $11,408,000 after acquiring an additional 7,149 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Price Performance

J. M. Smucker stock opened at $111.89 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The J. M. Smucker Company has a 52-week low of $98.77 and a 52-week high of $127.59. The firm 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 company’s 50 day moving average is $106.58 and its two-hundred day moving average is $112.56.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Thursday, February 27th. The company reported $2.61 earnings per share (EPS) 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 analysts’ expectations of $2.23 billion. On average, research analysts expect that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on SJM. Barclays decreased their price target on J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Stifel Nicolaus lowered their target price on shares of J. M. Smucker from $125.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, January 24th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Wells Fargo & Company increased their price objective on shares of J. M. Smucker from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Finally, TD Cowen lowered J. M. Smucker from a “buy” rating to a “hold” rating and cut their target price for the company from $130.00 to $121.00 in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, J. M. Smucker currently has an average rating of “Hold” and a consensus price target of $126.00.

Insider Activity at J. M. Smucker

In other J. M. Smucker news, CFO Tucker H. Marshall sold 5,028 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $113.36, for a total transaction of $569,974.08. Following the completion of the transaction, the chief financial officer now owns 13,263 shares in the company, valued at $1,503,493.68. The trade was a 27.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.40% of the stock is owned by corporate insiders.

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.