Amalgamated Bank, a well-known financial institution, recently reduced its stake in The J. M. Smucker Company (NYSE:SJM) during the first quarter of this year, according to its latest report filed with the Securities and Exchange Commission (SEC). The bank sold 5,088 shares of the company’s stock, accounting for a decrease in its overall holdings by 15.3%. As of its most recent filing with the SEC, Amalgamated Bank held 28,238 shares of J. M. Smucker, with an estimated value of $4,444,000.
In addition to these developments, it was announced that J. M. Smucker would be paying out a quarterly dividend on Friday, September 1st. Shareholders who have record ownership as of Friday, August 18th will receive a dividend payment of $1.06 per share. This represents an increase from the previous quarterly dividend payout of $1.02 per share. On an annualized basis, this amounts to a $4.24 dividend and provides investors with a dividend yield of 2.82%. It should be noted that shares purchased after the ex-dividend date on Thursday, August 17th will not be eligible for this dividend payout.
This news comes alongside recent insider trading activity within J. M. Smucker’s board of directors and executive management team. Director Richard K. Smucker sold 19,576 shares on Thursday,
June
22nd at an average price of $1519
5
per share,
resulting in a total transaction value worth approximately $
2,
974
,
573.
20
for those sold shares
.
Immediately following this transaction
of selli
ng,
the director now holds approximately 623,
605
shares directly which are valued at $
94,
756,
779.
75.
The transaction was duly reported to the Securities & Exchange Commission (SEC) as required.
Notably, the CEO of J. M. Smucker, Mark T. Smucker, also sold 9,965 shares of the company’s stock on
Tuesday,
June
20th
at an average price of $
152
.
30 per share.
The total value of this transaction is estimated at $
1,
517,
669.
50.
Following this sale, the CEO now owns 48,
685
shares in J. M. Smucker, with a calculated value of $
7,
414,
725.
50.
It is worth mentioning that over the past three months, insiders within the company have collectively sold 42,
550
shares of stock at a combined value of $
6,
443,
176.
Overall, insiders currently hold approximately 3.50% of J. M. Smucker’s outstanding stock.
In conclusion, Amalgamated Bank’s recent decrease in stake highlights strategic decision-making among financial institutions and how it can impact a company’s market position. Moreover, J. M. Smucker’s announcement of an increased dividend payout demonstrates its commitment to providing shareholders with attractive returns on their investment. Lastly, insider trading activities within the board and executive team signify potential shifts in the market perception or corporate outlook for J.M. Smucker Company.
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Growing Institutional Interest and Positive Earnings Position J.M. Smucker for Future Success
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”SJM” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]July 28, 2023 – In recent months, several institutional investors have made significant changes to their positions in the well-established company, J. M. Smucker (NYSE: SJM). The notable investment firm, Two Sigma Investments LP, has increased its stake in J. M. Smucker by an impressive 192.9% during the fourth quarter. This boost in shares now amounts to a substantial value of $58,351,000 after acquiring an additional 242,517 shares during the same period.
Moreover, Aviance Capital Partners LLC entered the game by purchasing a new stake in J. M. Smucker last quarter for approximately $207,000. In another strategic move, O Shaughnessy Asset Management LLC has raised its stake in J. M. Smucker by 4.7%, currently owning 15,770 shares amounting to $2,499,000.
Citigroup Inc., one of the world’s largest financial institutions and asset management firms also shared its interest in J.M.Smucker by increasing its stake by 20.4% during the fourth quarter to own around 197k shares with a worth of $31 million.
Lastly,Vontobel Holding Ltd demonstrated that they genuinely believed in J.M.Smuckers’ prowess as they raised their stake by approximately an astonishingly high percentage of89%. Today Vontobel Holding Ltd owns around102K shares of the company’s stock amounting to just shy over $16 Million.
It is important to note that institutional investors play a crucial role in determining the market value and success of companies like J. M. Smucker Company; thus this vote of confidence suggests promising signs for future growth and stability for shareholders.
The experts have voiced their opinions on J.M.Smuckers’ potential based on extensive research and analysis conducted lately.The popular financial news website StockNews.com had expressed neutrality towards SJM; offering it a ‘hold’ rating. However, 58.com recently maintainedits‘buy’rating on J.M.Smucker’s stocks.These two analysts opinions will undoubtedly carry weight when prospective investors evaluate their options.
Nevertheless, there are dissenting views in the market as some research analysts have issued negative ratings on the company’s stock. Three analysts have rated the stock as a “sell,” while eight have assigned it a “hold” rating and only two assigned a “buy” rating. According to Bloomberg data, J.M.Smuckers’ average rating stands at “Hold” accompanied by an average target price of $154.42 suggesting that industry professionals foresee moderate but consistent growth for the company.
On another note, J.M.Smucker recently announced its quarterly dividend payment which will be distributed on September 1st to shareholders of record as of August 18th. The company declared a dividend of $1.06 per share, marking a positive change from its previous quarterly payout which stood at $1.02.Such changes indicate proactive steps taken by J.M.Smucker management to enhance shareholder confidence and derive value from their investment.
As we review SJM’s financial figures ,an annualized dividend yield of roughly2.82% has been estimated based on dividends aligning with SJM’s annual payout figure of $4.24.Should this calculation hold true,it is clear that income-driven investors would see great potential here.
Moving forward ,experts expect the next quarter earnings call on fbe reported septempersecond-weektobe quite favorable given that JM Smucker exceeded analyst both earnings and revenue expectationslast June.AsJMSmucker presented42 cents higher earnings per share exceeding what was expectedbyanalysts.AS of now; A slight worry lies inJ#M:Do they possess an elegantly crafted strategy sustaining such an incredible return?Sources say Yes! This can be attributedto successfulbrand acquisitions and other productive business ventures which all contributed to J.M. Smucker’s growth.They were able to generate $2.23 billion in revenue during the previous quarter, surpassing analysts’ estimates of $2.17 billion.Financial experts anticipate that The J. M. Smucker Company will post an impressivenine dollars and fifty two cents earnings per share for the current fiscal year.
In conclusion,J.M.Smuckers have certainly proved their competence through recent developments in their stock position and positive earning figures.Itseems investments in J.M.Smuckers hold promise . Investors who have a long term perspective may Cconsiderthis as an opportune momentto explore adding JM Smuckers’ stock to their interest list.As always ,it is paramount to complete personal diligence as market conditions change overnight!.
