Citigroup Inc. Has $18.48 Million Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Citigroup Inc. grew its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 44.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,022 shares of the company's stock after acquiring an additional 48,005 shares during the period. Citigroup Inc. owned about 0.15% of J. M. Smucker worth $18,475,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of J. M. Smucker during the 4th quarter worth about $32,988,000. Sterling Capital Management LLC raised 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 purchasing an additional 2,182 shares in the last quarter. Mariner LLC raised its stake in J. M. Smucker by 6.3% in the 4th quarter. Mariner LLC now owns 28,260 shares of the company's stock worth $3,112,000 after purchasing an additional 1,683 shares in the last quarter. CreativeOne Wealth LLC raised its stake in J. M. Smucker by 3.1% in the 4th quarter. CreativeOne Wealth LLC now owns 7,344 shares of the company's stock worth $809,000 after purchasing an additional 224 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in J. M. Smucker in the 4th quarter worth about $306,000. Institutional investors own 81.66% of the company's stock.

J. M. Smucker Trading Down 0.8%

SJM traded down $0.88 during trading on Friday, reaching $110.56. 1,692,900 shares of the company's stock were exchanged, compared to its average volume of 1,594,209. 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 current ratio of 0.81, a quick ratio of 0.35 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $11.78 billion, a PE ratio of -9.56, a price-to-earnings-growth ratio of 8.42 and a beta of 0.31. The firm has a fifty day moving average price of $104.32 and a two-hundred day moving average price of $109.20.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its quarterly earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.25 by $0.06. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.18 billion. J. M. Smucker had a negative net margin of 14.10% and a positive return on equity of 15.20%. 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 company earned $2.66 EPS. As a group, equities research analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal 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 given a $1.10 dividend. This is an increase from J. M. Smucker's previous quarterly dividend of $1.08. The ex-dividend date is Friday, August 15th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.0%. J. M. Smucker's dividend payout ratio is presently -38.06%.

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 purchased at an average price of $96.09 per share, for a total transaction of $100,894.50. Following the transaction, the director owned 3,825 shares of the company's stock, valued at approximately $367,544.25. This trade represents a 37.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.24% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on SJM shares. Morgan Stanley reiterated an "overweight" rating and issued a $124.00 price objective (up previously from $123.00) on shares of J. M. Smucker in a research note on Friday, June 6th. BNP Paribas raised shares of J. M. Smucker from a "strong sell" rating to a "strong-buy" rating in a report on Wednesday, July 9th. Barclays decreased their price target on shares of J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 11th. Jefferies Financial Group raised shares of J. M. Smucker from a "hold" rating to a "buy" rating and decreased their price target for the company from $118.00 to $115.00 in a report on Wednesday, June 11th. Finally, Bank of America decreased their price target on shares of J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, June 11th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $117.67.

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.