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Smucker (SJM) Stock Dips on Jif Peanut Butter Recall

  • A multistate outbreak of Salmonella has been tied to Jif peanut butter.
  • J M Smucker (NYSE:SJM) has initiated a voluntary recall as a result.
  • SJM stock is dipping on the recall news.
company sign outside smucker's headquarters SJM stock

Source: JHVEPhoto / Shutterstock.com

J M Smucker (NYSE:SJM) stock is falling on Monday after the food company announced a recall of Jif peanut butter.

The recall of Jif peanut butter comes after five people reported falling ill due to Salmonella. The U.S. Food and Drug Administration (FDA) and Centers for Disease Control and Prevention (CDC) note that four of these five people reported consuming different brands of Jif peanut butter before becoming sick.

The CDC further investigated the source of the illness and linked it back to Smucker’s Lexington, Kentucky factory. It tied a 2010 sample of peanut butter to the current strain of Salmonella affecting individuals.

The FDA and CDC warn that this is a multistate outbreak of Salmonella. They also mention that Smucker has voluntarily recalled certain Jif brand peanut butter products that might contain the bacteria.

The Jif peanut butter recall affects products with lot codes ranging from 1274425 to 2140425. These products are only part of the recall if the first seven digits end with 425. That shows they were manufactured in the Lexington facility.

SJM stock isn’t doing so hot with weak trading of the shares on today’s recall news. As of this writing, around 659,000 shares of the stock have changed hands. That’s still below its daily average trading volume of around 891,000 shares.

SJM stock is down 1% as of noon Monday after experiencing a sharper dip in morning trading.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2022/05/smucker-sjm-stock-dips-on-jif-peanut-butter-recall/.

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