Allianz Asset Management GmbH Decreases Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Key Points

• Allianz Asset Management GmbH has decreased its holdings in The J. M. Smucker Company by 31.2%, now owning approximately 0.07% of shares worth about $8.24 million.
• During the first quarter, other institutional investors increased their stakes, including a 200.4% increase by J.W. Cole Advisors Inc.
• The J. M. Smucker Company declared a quarterly dividend of $1.10 per share, raising its annual dividend yield to 4.03%, up from the previous $1.08 per share.

Allianz Asset Management GmbH reduced its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 31.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,579 shares of the company's stock after selling 31,481 shares during the period. Allianz Asset Management GmbH owned about 0.07% of J. M. Smucker worth $8,239,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Teachers Retirement System of The State of Kentucky lifted its position in shares of J. M. Smucker by 4.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 8,213 shares of the company's stock worth $973,000 after purchasing an additional 324 shares during the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of J. M. Smucker by 200.4% during the 1st quarter. J.W. Cole Advisors Inc. now owns 12,696 shares of the company's stock worth $1,503,000 after purchasing an additional 8,469 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in J. M. Smucker by 2.1% in the first quarter. Kestra Private Wealth Services LLC now owns 26,240 shares of the company's stock valued at $3,107,000 after acquiring an additional 532 shares during the last quarter. Formidable Asset Management LLC purchased a new stake in J. M. Smucker in the first quarter valued at $206,000. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lifted its position in J. M. Smucker by 4.2% in the first quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 10,620 shares of the company's stock valued at $1,258,000 after acquiring an additional 429 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Tarang Amin purchased 1,050 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were acquired at an average cost of $96.09 per share, for a total transaction of $100,894.50. Following the completion of the purchase, the director directly owned 3,825 shares in the company, valued at $367,544.25. The trade was a 37.84% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.24% of the stock is currently owned by company insiders.

J. M. Smucker Trading Up 0.4%

NYSE SJM opened at $109.11 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.35 and a current ratio of 0.81. The firm has a market cap of $11.62 billion, a PE ratio of -9.44, a P/E/G ratio of 8.34 and a beta of 0.31. The J. M. Smucker Company has a one year low of $93.30 and a one year high of $125.42. The firm's fifty day moving average is $104.99 and its two-hundred day moving average is $108.48.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its quarterly earnings data on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.25 by $0.06. J. M. Smucker had a negative net margin of 14.10% and a positive return on equity of 15.20%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the business posted $2.66 earnings per share. J. M. Smucker's quarterly revenue was down 2.8% on a year-over-year basis. Analysts expect that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.03%. This is a positive change from J. M. Smucker's previous quarterly dividend of $1.08. The ex-dividend date is Friday, August 15th. J. M. Smucker's payout ratio is -37.37%.

Analyst Upgrades and Downgrades

SJM has been the subject of a number of research reports. Jefferies Financial Group raised shares of J. M. Smucker from a "hold" rating to a "buy" rating and reduced their price target for the company from $118.00 to $115.00 in a research report on Wednesday, June 11th. Stifel Nicolaus reduced their price target on shares of J. M. Smucker from $120.00 to $106.00 and set a "hold" rating for the company in a research report on Wednesday, June 11th. Barclays reduced their price target on shares of J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 11th. BNP Paribas Exane raised shares of J. M. Smucker from an "underperform" rating to an "outperform" rating and set a $120.00 price target for the company in a research report on Wednesday, July 9th. Finally, Bank of America reduced their price target on shares of J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, June 11th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, J. M. Smucker presently has a consensus rating of "Moderate Buy" and a consensus price target of $117.33.

About J. M. Smucker

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.

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