Citi Maintains Hold Rating, $82 PT on J.M. Smucker

J.M. Smucker (NYSE: SJM) reported F4Q11 earnings of $1.00/sh, 1c above consensus, Citi reports.

“For the full year, EPS grew by 10% as Smucker was able to effectively raise prices in order to offset rising costs and grow profits while maintaining volumes,” Citi writes.

“However, the road appears set to become more challenging in F2012 with Smucker facing 25% input cost inflation in its COGS, due to rising commodity prices, led by coffee but also in other important areas of the portfolio including oil and peanut butter.”

J.M. Smucker closed Thursday at $78.13.