Citigroup Inc. Reduces Stake in The J. M. Smucker Company (NYSE:SJM)

Citigroup Inc. reduced its position in The J. M. Smucker Company (NYSE:SJM) by 11.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,509 shares of the company’s stock after selling 15,964 shares during the period. Citigroup Inc. owned about 0.12% of J. M. Smucker worth $14,836,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Studio Investment Management LLC acquired a new stake in J. M. Smucker during the 2nd quarter valued at $26,000. Venturi Wealth Management LLC grew its holdings in J. M. Smucker by 1,329.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after buying an additional 226 shares during the last quarter. Quarry LP grew its holdings in J. M. Smucker by 212.6% during the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after buying an additional 219 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in J. M. Smucker during the 3rd quarter valued at $39,000. Finally, Eastern Bank acquired a new stake in J. M. Smucker during the 3rd quarter valued at $40,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Trading Down 1.8 %

NYSE:SJM opened at $117.97 on Thursday. The business’s 50-day moving average is $116.43 and its two-hundred day moving average is $115.59. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The J. M. Smucker Company has a 12 month low of $105.69 and a 12 month high of $134.62. The firm has a market capitalization of $12.55 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 3.19 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.27. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the company earned $2.59 earnings per share. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. Research analysts predict that The J. M. Smucker Company will post 9.79 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.66%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s dividend payout ratio is currently 61.10%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company lifted their target price on J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup reduced their target price on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Finally, Bank of America reduced their target price on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $127.55.

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.