Allianz SE Makes New Investment in The J. M. Smucker Company (NYSE:SJM)

Key Points

• Allianz SE acquired a new stake in The J. M. Smucker Company by purchasing 3,781 shares valued at approximately $448,000 during the first quarter.
• J. M. Smucker recently announced an increase in its quarterly dividend to $1.10 per share, reflecting a boost from the previous $1.08, with a yield of 4.1%.
• The company reported earnings of $2.31 EPS for the last quarter, exceeding analysts' expectations, despite a 2.8% year-over-year decline in revenue.

Allianz SE acquired a new stake in The J. M. Smucker Company (NYSE:SJM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,781 shares of the company's stock, valued at approximately $448,000.

Several other large investors have also made changes to their positions in the business. Smithfield Trust Co increased its holdings in J. M. Smucker by 8.5% in the 1st quarter. Smithfield Trust Co now owns 1,615 shares of the company's stock worth $191,000 after acquiring an additional 126 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of J. M. Smucker in the first quarter valued at about $417,000. LSV Asset Management increased its stake in shares of J. M. Smucker by 48.4% during the first quarter. LSV Asset Management now owns 1,379,320 shares of the company's stock worth $163,325,000 after purchasing an additional 449,920 shares in the last quarter. Natixis Advisors LLC raised its position in shares of J. M. Smucker by 6.4% during the 1st quarter. Natixis Advisors LLC now owns 11,462 shares of the company's stock worth $1,357,000 after purchasing an additional 692 shares during the last quarter. Finally, SlateStone Wealth LLC lifted its stake in J. M. Smucker by 21.4% in the 1st quarter. SlateStone Wealth LLC now owns 4,030 shares of the company's stock valued at $477,000 after buying an additional 710 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at J. M. Smucker

In related news, Director Tarang Amin purchased 1,050 shares of J. M. Smucker stock in a transaction dated Thursday, June 12th. The shares were acquired at an average cost of $96.09 per share, with a total value of $100,894.50. Following the purchase, the director owned 3,825 shares of the company's stock, valued at approximately $367,544.25. The trade was a 37.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.24% of the stock is currently owned by corporate insiders.

J. M. Smucker Trading Up 0.8%

SJM opened at $108.16 on Monday. The stock has a market capitalization of $11.52 billion, a PE ratio of -9.36, a P/E/G ratio of 8.22 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 company has a debt-to-equity ratio of 1.16, a quick ratio of 0.35 and a current ratio of 0.81. The business's 50 day moving average price is $104.58 and its 200 day moving average price is $108.76.

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

J. M. Smucker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 4.1%. This is a boost from J. M. Smucker's previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Friday, August 15th. J. M. Smucker's payout ratio is -37.37%.

Wall Street Analysts Forecast Growth

Several research firms have commented on SJM. Citigroup cut their price objective on J. M. Smucker from $128.00 to $118.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Stifel Nicolaus boosted their price target on J. M. Smucker from $106.00 to $110.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Royal Bank Of Canada assumed coverage on J. M. Smucker in a research note on Monday, July 7th. They issued an "outperform" rating and a $130.00 price objective for the company. Jefferies Financial Group raised shares of J. M. Smucker from a "hold" rating to a "buy" rating and lowered their target price for the stock from $118.00 to $115.00 in a research note on Wednesday, June 11th. Finally, Wells Fargo & Company dropped their target price on shares of J. M. Smucker from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, J. M. Smucker presently has an average rating of "Moderate Buy" and an average target price of $117.67.

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.

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