As of Friday close, McCormick & Company Incorporated’s (NYSE:MKC) stock was down -$0.12, moving down -0.14 percent to $84.97. The average number of shares traded per day over the past five days has been 712,800 shares. 1 time new highs have been achieved over the past 5 days, with a -$1.46 fall in that time frame. In the last twenty days, the average volume was 1,067,845, while in the previous 50 days, it was 1,402,672.
Since last month, MKC stock retreated -2.96%. Shares of the company fell to $84.67 on 08/18/23, the lowest level in the past month. A 52-week high of $94.39 was reached on 06/23/23 after having rallying from a 52-week low of $70.60. Since the beginning of this year, MKC’s stock price has risen by 2.51% or $2.08, and marked a new high 17 times. However, the stock has declined by -9.98% since its 52-week high.
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MKC stock investors should be aware that McCormick & Company Incorporated (MKC) stock had its last reported insider trading activity 22 days ago on Jul 28. Schwartz Jeffery D, the Vice President, Gen Counsel of the company, disposed of 2,600 shares for $90.02 on Jul 28. It resulted in a $234,046 divestment by the insider. Tapiero Jacques sold 5,000 shares at an average price of $89.88 on Jul 26. The insider now owns 25,612 shares following the transaction. On Jul 21, Vice President, Gen Counsel Schwartz Jeffery D sold 3,600 shares at $87.48 apiece. The transaction was valued at $314,919.
Valuation Metrics
Right now, McCormick & Company Incorporated (MKC) has a P/E ratio of about 32.77. The stock’s beta is 0.58. Besides these, the trailing price-to-sales (P/S) ratio of 3.49, the price-to-book (PB) ratio of 4.62, and the price-to-cash flow ratio of 37.18 may also be considered.
The latest dividend of $0.39 per share was paid out, remained unchanged from last year’s $0.39. On Tuesday November 29 2022, a $0.02 dividend increase was announced.
Financial Health
In the three months ended May 30, McCormick & Company Incorporated’s quick ratio stood at 0.30, while its current ratio was 0.80, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending May 30 was 0.83, and the total debt-to-equity ratio was 0.99. On the profitability front, the trailing twelve-month gross margin is 36.40% percent. In the year ended May 30, EBITDA margin amounted to 17.58%, whereas operating margins totaled 14.90%. Based on annual data, MKC earned $2.27 billion in gross profit and brought in $6.35 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 7.60%. Return on equity (ROE) for the past 12 months was 14.70%.
In McCormick & Company Incorporated’s quarter-end financial report for May 30, it reported total debt of $4.12 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. MKC’s revenue rose 7.38% to $1.57 billion during the quarter, while net income inched up to $1.66 billion. While analysts expected McCormick & Company Incorporated to report $0.57 quarterly earnings, the actual figure was $0.6 per share, beating the consensus estimate by 5.30%. During the quarter, the company generated $270.6 million in EBITDA. The liabilities of McCormick & Company Incorporated were 7.95 billion at the end of its most recent quarter ended May 30, and its total debt was $4.91 billion. The value of shareholders’ equity is $268.33 million.
Technical Picture
This quick technical analysis looks at McCormick & Company Incorporated’s (MKC) price momentum. With a historical volatility rate of 15.20%, the RSI 9-day stood at 32.60% on 18 August.
With respect to its five-day moving average, the current McCormick & Company Incorporated price is down by -1.69% percent or -$1.46. At present, MKC shares trade -3.59% below its 20-day simple moving average and +14.73% percent above its 100-day simple moving average. However, the stock is currently trading approximately -6.37% below its SMA50 and +8.05% above its SMA200.
Stochastic coefficient K was 5.41% and Stochastic coefficient D was 8.96%, while ATR was 1.14. Given the Stochastic reading of 5.80% for the 14-day period, the RSI (14) reading has been calculated as 37.56%. As of today, the MACD Oscillator reading stands at -0.70, while the 14-day reading stands at -1.38.
Analyst Ratings
BofA Securities upgraded its rating on McCormick & Company Incorporated (NYSE: MKC) to a Buy in a note to investors on June 06, 2023. The analysts firm previously had an Underperform rating on the stock.McCormick & Company Incorporated (MKC) has been rated Hold by analysts. According to 3 brokerage firms, MKC is a sell, and 7 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate McCormick & Company Incorporated stock as buy, with 3 recommending it as overweight.
With a median target price of $86.50, the current consensus forecast for the stock is $66.00 – $100.00. Based on these forecasts, analysts predict McCormick & Company Incorporated (MKC) will achieve an average price target of $86.50.
