Potential Price Increase for J.M. Smucker Co. (SJM) After Recent Insider Activity

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In a filing, J.M. Smucker Co. revealed its Chief Legal Officer Knudsen Jeannette L unloaded Company’s shares for reported $0.4 million on Mar 27 ’24. In the deal valued at $124.77 per share,3,200 shares were sold. As a result of this transaction, Knudsen Jeannette L now holds 8,946 shares worth roughly $1.1 million.

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Then, Knudsen Jeannette L sold 6,500 shares, generating $791,570 in total proceeds. Upon selling the shares at $121.78, the Chief Legal Officer now owns 12,146 shares.

Before that, AMIN TARANG bought 900 shares. J.M. Smucker Co. shares valued at $109,998 were divested by the Director at a price of $122.22 per share. As a result of the transaction, AMIN TARANG now holds 1,900 shares, worth roughly $0.23 million.

DA Davidson initiated its J.M. Smucker Co. [SJM] rating to a Neutral in a research note published on March 01, 2024; the price target was $132. A number of analysts have revised their coverage, including Stifel’s analysts, who increased its forecast for the stock in late February from “a Hold” to “a Buy”. Citigroup began covering SJM with “Buy” recommendation on February 01, 2024. Wells Fargo started covering the stock on December 12, 2023. It rated SJM as “an Overweight”.

Price Performance Review of SJM

On Tuesday, J.M. Smucker Co. [NYSE:SJM] saw its stock fall -1.34% to $123.06. Over the last five days, the stock has lost -0.46%. J.M. Smucker Co. shares have fallen nearly -2.63% since the year began. Nevertheless, the stocks have fallen -21.89% over the past one year. While a 52-week high of $159.92 was reached on 02/02/24, a 52-week low of $107.33 was recorded on 03/08/24. SMA at 50 days reached $125.82, while 200 days put it at $129.37. A total of 1.31 million shares were traded, compared to the trading of 0.84 million shares in the previous session.

Levels Of Support And Resistance For SJM Stock

The 24-hour chart illustrates a support level at 122.15, which if violated will result in even more drops to 121.24. On the upside, there is a resistance level at 124.38. A further resistance level may holdings at 125.70. The Relative Strength Index (RSI) on the 14-day chart is 47.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.75, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 64.25%. Stochastics %K at 57.77% indicates the stock is a holding.

How much short interest is there in J.M. Smucker Co.?

A steep rise in short interest was recorded in J.M. Smucker Co. stocks on Mar 15, 2024, dropping by -0.2 million shares to a total of 4.34 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 4.54 million shares. There was a decline of -4.61%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.83% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.73.

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