Munich Reinsurance Co Stock Corp in Munich Buys New Position in The J. M. Smucker Company $SJM

Key Points

• Munich Reinsurance Co Stock Corp in Munich opened a new position in The J. M. Smucker Company by buying 55,453 shares valued at approximately $5.458 million, representing about 0.05% ownership at the end of the quarter.
• Analysts are mixed: the consensus rating is "Hold" with a consensus price target of $117.25 (10 Buys, 9 Holds, 1 Sell), while several firms have recently adjusted targets and ratings.
• Smucker declared a quarterly dividend of $1.10 (annualized $4.40) with a yield of about 4.6%; shareholders of record on May 15 will be paid on June 1 (ex-dividend date May 15).

Munich Reinsurance Co Stock Corp in Munich purchased a new stake in The J. M. Smucker Company (NYSE:SJM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 55,453 shares of the company's stock, valued at approximately $5,458,000. Munich Reinsurance Co Stock Corp in Munich owned 0.05% of J. M. Smucker at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wesbanco Bank Inc. grew its holdings in J. M. Smucker by 2.9% in the 3rd quarter. Wesbanco Bank Inc. now owns 3,615 shares of the company's stock valued at $393,000 after buying an additional 102 shares during the period. Wedbush Securities Inc. grew its holdings in J. M. Smucker by 1.2% in the 3rd quarter. Wedbush Securities Inc. now owns 8,861 shares of the company's stock valued at $962,000 after buying an additional 106 shares during the period. IFP Advisors Inc grew its holdings in J. M. Smucker by 22.9% in the 3rd quarter. IFP Advisors Inc now owns 586 shares of the company's stock valued at $64,000 after buying an additional 109 shares during the period. Diversify Advisory Services LLC grew its holdings in J. M. Smucker by 4.2% in the 4th quarter. Diversify Advisory Services LLC now owns 2,815 shares of the company's stock valued at $287,000 after buying an additional 113 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in J. M. Smucker by 5.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,437 shares of the company's stock valued at $265,000 after buying an additional 118 shares during the period. Hedge funds and other institutional investors own 81.66% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on SJM shares. Stifel Nicolaus lowered their price target on J. M. Smucker from $120.00 to $100.00 and set a "hold" rating for the company in a report on Tuesday. BTIG Research began coverage on J. M. Smucker in a report on Monday, April 13th. They set a "buy" rating and a $120.00 target price for the company. Wall Street Zen cut J. M. Smucker from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Weiss Ratings reiterated a "sell (d)" rating on shares of J. M. Smucker in a report on Monday. Finally, Wells Fargo & Company decreased their target price on J. M. Smucker from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Wednesday, April 8th. Ten analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $117.25.

J. M. Smucker Stock Down 0.2%

Shares of NYSE:SJM opened at $96.04 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.35 and a current ratio of 0.84. The J. M. Smucker Company has a 1 year low of $88.25 and a 1 year high of $119.39. The stock has a market capitalization of $10.24 billion, a P/E ratio of -8.15, a PEG ratio of 4.18 and a beta of 0.27. The stock has a 50-day simple moving average of $101.64 and a 200-day simple moving average of $102.64.

J. M. Smucker (NYSE:SJM - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.27 by $0.11. The firm had revenue of $2.34 billion during the quarter, compared to analysts' expectations of $2.32 billion. J. M. Smucker had a positive return on equity of 15.94% and a negative net margin of 14.07%.J. M. Smucker's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.61 EPS. Equities analysts forecast that The J. M. Smucker Company will post 9.05 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, May 15th. J. M. Smucker's dividend payout ratio is currently -37.32%.

J. M. Smucker Company Profile

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company's main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker's core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker's® fruit spreads, Jif® peanut butter, Folgers® and Dunkin'® coffees, and Café Bustelo® coffee.

Want to see what other hedge funds are holding SJM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The J. M. Smucker Company (NYSE:SJM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.