J Sainsbury (LON:SBRY) Downgraded by Citigroup

Citigroup cut shares of J Sainsbury (LON:SBRY – Get Rating) to a neutral rating in a research note released on Tuesday morning, Digital Look reports. The firm currently has GBX 295 ($3.67) price objective on the grocer’s stock, down from their prior price objective of GBX 320 ($3.98).

SBRY has been the topic of several other research reports. Barclays upped their price objective on shares of J Sainsbury from GBX 285 ($3.54) to GBX 295 ($3.67) and gave the company an overweight rating in a research note on Friday, April 21st. Shore Capital reissued a house stock rating on shares of J Sainsbury in a research note on Thursday, April 27th. Finally, Jefferies Financial Group upped their price objective on shares of J Sainsbury from GBX 230 ($2.86) to GBX 270 ($3.36) and gave the company a hold rating in a research note on Monday, March 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of GBX 260.60 ($3.24).

J Sainsbury Stock Performance

Shares of SBRY opened at GBX 275.10 ($3.42) on Tuesday. The company has a debt-to-equity ratio of 99.53, a quick ratio of 0.53 and a current ratio of 0.68. The company has a market capitalization of £6.49 billion, a price-to-earnings ratio of 3,056.67, a PEG ratio of 1.45 and a beta of 0.62. The company’s 50 day simple moving average is GBX 276.63 and its 200 day simple moving average is GBX 252.86. J Sainsbury has a 1 year low of GBX 168.70 ($2.10) and a 1 year high of GBX 291 ($3.62).

J Sainsbury Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, June 8th will be given a GBX 9.20 ($0.11) dividend. The ex-dividend date is Thursday, June 8th. This represents a dividend yield of 3.24%. This is a positive change from J Sainsbury’s previous dividend of $3.90. J Sainsbury’s dividend payout ratio is presently 14,444.44%.

About J Sainsbury

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J Sainsbury plc, together with its subsidiaries, engages in the food, general merchandise and clothing retailing, and financial services activities in the United Kingdom and the Republic of Ireland. It operates through three segments: Retail – Food, Retail – General Merchandise and Clothing, and Financial Services.