The J. M. Smucker Company (NYSE:SJM) Stock Position Lifted by Citigroup Inc.

Citigroup Inc. raised its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 15.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 277,459 shares of the company's stock after buying an additional 36,296 shares during the period. Citigroup Inc. owned about 0.26% of J. M. Smucker worth $34,103,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SJM. Intrepid Capital Management Inc. purchased a new position in J. M. Smucker in the 2nd quarter worth $26,000. Eagle Bay Advisors LLC purchased a new position in shares of J. M. Smucker in the second quarter valued at about $27,000. Clear Street Markets LLC increased its position in shares of J. M. Smucker by 97.2% in the first quarter. Clear Street Markets LLC now owns 211 shares of the company's stock valued at $33,000 after acquiring an additional 104 shares during the period. Sunbelt Securities Inc. bought a new stake in shares of J. M. Smucker during the 1st quarter valued at about $33,000. Finally, West Tower Group LLC bought a new stake in shares of J. M. Smucker during the 2nd quarter valued at about $35,000. Institutional investors own 79.08% of the company's stock.

J. M. Smucker Trading Up 0.3 %

Shares of SJM traded up $0.35 during midday trading on Friday, hitting $122.07. The stock had a trading volume of 1,892,136 shares, compared to its average volume of 1,334,328. The firm has a market cap of $12.96 billion, a PE ratio of -138.32, a price-to-earnings-growth ratio of 1.97 and a beta of 0.21. The J. M. Smucker Company has a 1 year low of $107.33 and a 1 year high of $159.92. The stock's 50 day moving average is $126.98 and its 200 day moving average is $123.19. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.78 and a quick ratio of 0.38.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.27 by $0.21. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.22 billion. J. M. Smucker had a negative net margin of 1.24% and a positive return on equity of 14.29%. The firm's revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.21 EPS. As a group, analysts forecast that The J. M. Smucker Company will post 9.6 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date was Thursday, February 15th. J. M. Smucker's dividend payout ratio (DPR) is -481.81%.

Analyst Ratings Changes

SJM has been the topic of a number of research reports. Wells Fargo & Company initiated coverage on shares of J. M. Smucker in a research note on Tuesday, December 12th. They set an "overweight" rating and a $140.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of J. M. Smucker from $126.00 to $128.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 28th. TD Cowen upped their target price on shares of J. M. Smucker from $133.00 to $136.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 6th. Citigroup decreased their price objective on shares of J. M. Smucker from $153.00 to $152.00 and set a "buy" rating for the company in a report on Wednesday, February 28th. Finally, Barclays upped their target price on shares of J. M. Smucker from $129.00 to $132.00 and gave the company an "equal weight" rating in a report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $137.20.

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.