Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. J.M. Smucker Co. shares valued at $399,264 were sold by Knudsen Jeannette L on Mar 27 ’24. At $124.77 per share, Knudsen Jeannette L sold 3,200 shares. The insider’s holdings dropped to 8,946 shares worth approximately $1.0 million following the completion of this transaction.
Also, Knudsen Jeannette L sold 6,500 shares, netting a total of over 791,570 in proceeds. Following the sale of shares at $121.78 each, the insider now holds 12,146 shares.
Before that, AMIN TARANG had added 900 shares to its account. In a trade valued at $109,998, the Director bought J.M. Smucker Co. shares for $122.22 each. Upon closing the transaction, the insider’s holdings increased to 900 shares, worth approximately $0.21 million.
As published in their initiating research note from DA Davidson on March 01, 2024, J.M. Smucker Co. [SJM] has been a Neutral and the price target has been revised to $132. Analysts at Stifel upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late February. As of February 01, 2024, Citigroup has initiated its “Buy” rating for SJM. Earlier on December 12, 2023, Wells Fargo initiated its rating. Their recommendation was “an Overweight” for SJM stock.
Analyzing SJM Stock Performance
During the last five days, there has been a drop of approximately -5.68%. Over the course of the year, J.M. Smucker Co. shares have dropped approximately -11.35%. Shares of the company reached a 52-week high of $134.62 on 02/02/24 and a 52-week low of $111.90 on 04/11/24. A 50-day SMA is recorded $123.76, while a 200-day SMA reached $128.12. Nevertheless, trading volume fell to 1.15 million shares from 1.34 million shares the previous day.
Support And Resistance Levels for J.M. Smucker Co. (SJM)
According to the 24-hour chart, there is a support level at 111.10, which, if violated, would cause prices to drop to 110.16. In the upper region, resistance lies at 113.78. The next price resistance is at 115.52. RSI (Relative Strength Index) is 28.43 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.05, which suggests the price will decrease in the coming days. Percent R is at 99.08%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is J.M. Smucker Co. subject to short interest?
Stocks of J.M. Smucker Co. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.5 million shares to 3.81 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 4.31 million shares. A decline of -13.12% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.9 of the overall float, the days-to-cover ratio (short ratio) decline to 2.9.
