In a recent transaction on March 27, Jeannette L. Knudsen, the Chief Legal Officer of J M Smucker Co (NYSE:SJM), sold 3,200 shares of the company's stock. The shares were sold at an average price of $124.77, amounting to a total value of $399,264.
This sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available at this link. Following the sale, Knudsen still owns 8,946 shares of the company's stock, valued at approximately $1,116,245.22. The transaction was conducted directly, indicating that the shares sold were personally held by Knudsen.
The sale occurred as J M Smucker Co's stock has been the subject of investor interest. The company, known for its wide range of food products, including canned fruits and preserves, operates within the SIC code 2033 for Canned, Fruits, Veg & Preserves, Jams & Jellies.
Investors often watch insider transactions as they can provide insights into how the company's executives view the stock's value and potential future performance. However, it's important to consider that insider sales can occur for various reasons and may not necessarily indicate a negative outlook on the company's future.
J M Smucker Co's stock performance and further insider transactions will continue to be watched closely by investors and market analysts alike.
InvestingPro Insights
In the wake of the insider transaction by Jeannette L. Knudsen, J M Smucker Co (NYSE:SJM) presents a mixed financial canvas. The company's market capitalization stands at a robust $13.36B, reflecting investor confidence in the brand's market position. Despite recent insider sales, J M Smucker Co's long-standing commitment to shareholder returns is evident, with a notable dividend yield of 3.37% as of the latest data. This commitment is further underscored by the company's track record of raising its dividend for 14 consecutive years, a testament to its financial discipline and respect for shareholder value.
InvestingPro Tips further reveal that management has been aggressively buying back shares, a move that often signals confidence in the company's future performance and a potential increase in future earnings per share. Additionally, while the company was not profitable over the last twelve months, analysts predict that J M Smucker Co will return to profitability this year, which could be a sign of a turnaround and a positive indicator for investors considering the stock.
Investors should note that the company's P/E ratio adjusted for the last twelve months as of Q3 2024 stands at 17.05, which may be appealing to those looking for value investments. These metrics and additional InvestingPro Tips, which total 8 for J M Smucker Co, can be explored in depth for those seeking comprehensive analysis and investment guidance. To access these insights and more, interested parties can visit InvestingPro and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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