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

Citigroup Inc. lessened its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 11.5% in the third quarter, according to the company in its most recent 13F 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 approximately 0.12% of J. M. Smucker worth $14,836,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Probity Advisors Inc. grew its stake in J. M. Smucker by 1.1% in the 3rd quarter. Probity Advisors Inc. now owns 8,791 shares of the company's stock worth $1,065,000 after buying an additional 96 shares in the last quarter. Anchor Investment Management LLC boosted its stake in shares of J. M. Smucker by 0.5% in the 2nd quarter. Anchor Investment Management LLC now owns 19,791 shares of the company's stock valued at $2,158,000 after purchasing an additional 99 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of J. M. Smucker by 0.3% in the 2nd quarter. State of Michigan Retirement System now owns 33,561 shares of the company's stock valued at $3,659,000 after purchasing an additional 100 shares in the last quarter. Romano Brothers AND Company boosted its stake in shares of J. M. Smucker by 3.5% in the 3rd quarter. Romano Brothers AND Company now owns 2,987 shares of the company's stock valued at $362,000 after purchasing an additional 100 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of J. M. Smucker by 11.0% in the 3rd quarter. Blue Trust Inc. now owns 1,032 shares of the company's stock valued at $125,000 after purchasing an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.

J. M. Smucker Trading Down 1.7 %

Shares of NYSE:SJM traded down $2.09 on Thursday, hitting $118.00. The company had a trading volume of 1,710,750 shares, compared to its average volume of 1,402,598. The firm's 50-day simple moving average is $116.38 and its two-hundred day simple moving average is $115.60. The J. M. Smucker Company has a 1 year low of $105.69 and a 1 year high of $134.62. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $12.56 billion, a price-to-earnings ratio of 23.89, a P/E/G ratio of 3.37 and a beta of 0.25.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its earnings results on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.49 by $0.27. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.33%. The firm had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.27 billion. During the same period last year, the company posted $2.59 EPS. The company's quarterly revenue was up 17.2% compared to the same quarter last year. Equities analysts anticipate that The J. M. Smucker Company will post 9.79 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a $1.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 annualized dividend and a dividend yield of 3.66%. J. M. Smucker's dividend payout ratio is 87.45%.

Wall Street Analysts Forecast Growth

SJM has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on shares of J. M. Smucker from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday. StockNews.com raised shares of J. M. Smucker from a "sell" rating to a "hold" rating in a research note on Monday, September 30th. Citigroup cut their price objective on shares of J. M. Smucker from $138.00 to $136.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. DA Davidson reaffirmed a "neutral" rating and issued a $121.00 price objective on shares of J. M. Smucker in a research note on Thursday, August 29th. Finally, TD Cowen cut their price objective on shares of J. M. Smucker from $135.00 to $132.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, J. M. Smucker has a consensus rating of "Hold" and an average target price 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.