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Is it a good time to sell J.M. Smucker Co. [SJM] shares after an insider sold 10,000 shares?

In a filing, J.M. Smucker Co. revealed its Chair of Board, Pres & CEO SMUCKER MARK T unloaded Company’s shares for reported $1.1 million on Jun 21 ’24. In the deal valued at $110.16 per share,10,000 shares were sold. As a result of this transaction, SMUCKER MARK T now holds 78,757 shares worth roughly $8.71 million.

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Then, Knudsen Jeannette L sold 3,200 shares, generating $399,264 in total proceeds. Upon selling the shares at $124.77, the Chief Legal Officer now owns 8,946 shares.

Before that, Knudsen Jeannette L sold 6,500 shares. J.M. Smucker Co. shares valued at $791,570 were divested by the Chief Legal Officer at a price of $121.78 per share. As a result of the transaction, Knudsen Jeannette L now holds 12,146 shares, worth roughly $1.34 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 jump 0.13% to $110.65. Over the last five days, the stock has gained 2.39%. J.M. Smucker Co. shares have fallen nearly -12.45% since the year began. Nevertheless, the stocks have fallen -25.07% over the past one year. While a 52-week high of $153.94 was reached on 02/02/24, a 52-week low of $105.69 was recorded on 06/26/24. SMA at 50 days reached $112.43, while 200 days put it at $118.82. A total of 0.94 million shares were traded, compared to the trading of 1.42 million shares in the previous session.

Levels Of Support And Resistance For SJM Stock

The 24-hour chart illustrates a support level at 109.81, which if violated will result in even more drops to 108.97. On the upside, there is a resistance level at 111.47. A further resistance level may holdings at 112.28. The Relative Strength Index (RSI) on the 14-day chart is 48.93, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 34.26%. Stochastics%K at 54.65% indicates the stock is a holding.

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