Deutsche Bank AG Has $143.67 Million Stock Position in The J. M. Smucker Company (NYSE:SJM)

Key Points

• Deutsche Bank AG increased its holdings in The J. M. Smucker Company by 8.6% during the first quarter, now owning approximately $143.67 million worth of shares.
• The quarterly dividend has been raised from $1.08 to $1.10 per share, reflecting a 4.0% yield, with payment scheduled for September 2nd.
• J. M. Smucker's latest earnings report revealed an EPS of $2.31, exceeding analyst expectations, but the company's revenue decreased by 2.8% year-over-year.

Deutsche Bank AG grew its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,213,312 shares of the company's stock after purchasing an additional 96,508 shares during the period. Deutsche Bank AG owned about 1.14% of J. M. Smucker worth $143,668,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Merit Financial Group LLC purchased a new stake in J. M. Smucker in the 1st quarter worth about $203,000. Farther Finance Advisors LLC lifted its stake in J. M. Smucker by 113.5% in the 1st quarter. Farther Finance Advisors LLC now owns 2,923 shares of the company's stock worth $346,000 after acquiring an additional 1,554 shares in the last quarter. Costello Asset Management INC purchased a new stake in J. M. Smucker in the 1st quarter worth about $50,000. Schonfeld Strategic Advisors LLC lifted its stake in J. M. Smucker by 124.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 13,355 shares of the company's stock worth $1,471,000 after acquiring an additional 7,414 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its stake in J. M. Smucker by 55.5% in the 4th quarter. Sterling Capital Management LLC now owns 6,117 shares of the company's stock worth $674,000 after acquiring an additional 2,182 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. UBS Group reduced their price objective on J. M. Smucker from $134.00 to $129.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Bank of America reduced their price objective on J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, June 11th. BNP Paribas raised J. M. Smucker from a "strong sell" rating to a "strong-buy" rating in a research note on Wednesday, July 9th. Citigroup reduced 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. Finally, Barclays dropped their target price on J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 11th. Six equities research 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, the company has a consensus rating of "Moderate Buy" and an average target price of $117.67.

J. M. Smucker Stock Up 1.2%

Shares of NYSE SJM traded up $1.30 during mid-day trading on Wednesday, reaching $112.67. 365,152 shares of the company traded hands, compared to its average volume of 1,556,689. 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 stock has a market cap of $12.00 billion, a PE ratio of -9.76, a price-to-earnings-growth ratio of 8.43 and a beta of 0.31. The company's fifty day moving average is $104.29 and its two-hundred day moving average is $109.09. The J. M. Smucker Company has a fifty-two week low of $93.30 and a fifty-two week high of $125.42.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued 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. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates 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 firm's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.66 EPS. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.9%. This is a positive change from J. M. Smucker's previous quarterly dividend of $1.08. J. M. Smucker's payout ratio is currently -37.37%.

Insider Activity at J. M. Smucker

In related news, Director Tarang Amin acquired 1,050 shares of the stock in a transaction dated Thursday, June 12th. The shares were acquired at an average price of $96.09 per share, with a total value of $100,894.50. Following the acquisition, the director owned 3,825 shares in the company, valued at approximately $367,544.25. The trade was a 37.84% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.24% of the company's stock.

J. M. Smucker 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.