Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. J.M. Smucker Co. shares valued at $1,101,600 were sold by SMUCKER MARK T on Jun 21 ’24. At $110.16 per share, SMUCKER MARK T sold 10,000 shares. The insider’s holdings dropped to 78,757 shares worth approximately $9.22 million following the completion of this transaction.
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Also, Knudsen Jeannette L sold 3,200 shares, netting a total of over 399,264 in proceeds. Following the sale of shares at $124.77 each, the insider now holds 8,946 shares.
Before that, Knudsen Jeannette L had sold 6,500 shares from its account. In a trade valued at $791,570, the Chief Legal Officer traded J.M. Smucker Co. shares for $121.78 each. Upon closing the transaction, the insider’s holdings decreased to 6,500 shares, worth approximately $1.42 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 -3.47%. Over the course of the year, J.M. Smucker Co. shares have dropped approximately -7.39%. Shares of the company reached a 52-week high of $134.62 on 02/02/24 and a 52-week low of $105.69 on 06/26/24. A 50-day SMA is recorded $119.14, while a 200-day SMA reached $118.75. Nevertheless, trading volume fell to 0.58 million shares from 0.47 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 116.42, which, if violated, would cause prices to drop to 115.80. In the upper region, resistance lies at 118.24. The next price resistance is at 119.44. RSI (Relative Strength Index) is 43.01 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.07, which suggests the price will decrease in the coming days. Percent R is at 74.89%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
