TD Cowen Sees Elliott Involvement Supporting Smucker's (SJM) Long-Term Execution

The J. M. Smucker Company (NYSE:SJM) is included among the 14 Value Stocks to Buy with High Dividend Yields.

On February 27, TD Cowen raised its price recommendation on The J. M. Smucker Company (NYSE:SJM) to $124 from $112. It reiterated a Hold rating on the shares. The firm said the increase reflects its positive view of activist Elliott Investment Management’s constructive engagement with the company. It expects Elliott’s involvement to support improvements in corporate governance, operational execution, and succession planning over time.

During the company’s fiscal Q3 2026 earnings call, CEO Mark Smucker said the company had recently started engaging with Elliott. He described the discussions as constructive and said both sides had already held several meetings. He noted that Elliott largely agreed that the company remained fundamentally strong, supported by its portfolio of established brands.

Smucker said there was alignment on several key priorities. He pointed to efforts to improve operations, restore profitability, drive organic growth, and maintain disciplined capital allocation. He also said the company remained focused on evolving its Board, including the recent appointments of Bruce Chung and David Singer. He added that stabilizing the Hostess and Sweet Baked Snacks segments remained a key focus. The company is simplifying its product lineup and concentrating on core products such as cupcakes, Twinkies, and Donettes. He also said the company updated its long-term outlook to reflect a 2% growth trajectory, while emphasizing that stabilizing the business is the immediate priority.

The J. M. Smucker Company (NYSE:SJM) produces and markets branded food and beverage products worldwide.

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