McCormick & Company Incorporated (NYSE:MKC) finished Thursday with an addition of $0.76 to close at $81.75, an upside of 0.94 percent. An average of 1,042,452 shares of common stock have been traded in the last five days. There was a fall of -$3.21 in the past week, and it reached a new high 10 times over the past 12 months. The last 20 days have seen an average of 1,008,403 shares traded, while the 50-day average volume stands at 1,429,381.
MKC stock has decreased by -8.73% in the last month. The company shares reached their 1-month lowest point of $80.63 on 08/25/23. With the stock rallying to its 52-week high on 06/23/23, shares of the company touched a low of $70.60 and a high of $94.39 in 52 weeks. It has reached a new high 17 times so far this year and lost -1.38% or -$1.13 in price. In spite of this, the price is down -13.39% from the 52-week high.
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Insider Transactions
MKC stock investors should be aware that McCormick & Company Incorporated (MKC) stock had its last reported insider trading activity 4 days ago on Aug 21. In this transaction, the insider spent $418,142. Vice President, Gen Counsel, Schwartz Jeffery D, disposed of 2,600 shares at a price of $90.02 on Jul 28. The insider now owns more than $234,046 worth of shares. Prior to that, Director Tapiero Jacques went on to Sale 5,000 shares at $89.88 each on Jul 26. An amount of $449,422 was transacted.
Valuation Metrics
McCormick & Company Incorporated (MKC) has a trailing price-to-earnings (P/E) ratio of 31.53. The stock’s beta is 0.59. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.39, the price-to-book (PB) ratio at 4.45, and the price-to-cash flow ratio at 36.03.
The company has a payout ratio of 58.30%. The company’s most recent quarterly dividend payment was $0.39 a share, without any change from last year. Its latest increase dividend $0.02 reported on Tuesday November 29 2022.
Financial Health
The quick ratio of McCormick & Company Incorporated for the three months ended May 31 was 0.30, and the current ratio was 0.80, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.83 and a total debt to equity ratio of 0.99 for the quarter ending May 31. McCormick & Company Incorporated’s EBITDA margin for the year ending May 31 is 17.58%, while its operating margin for the same period stands at 14.90%. Its gross profit as reported stood at $2.27 billion compared to revenue of $6.35 billion.
Earnings Surprise
For the three-month period that ended May 31, McCormick & Company Incorporated had $4.12 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $152.1 million in the quarter, while revenues of $139.1 million were grew 22.09%. The analyst consensus anticipated McCormick & Company Incorporated’s latest quarter earnings to come in at $0.57 per share, but it turned out to be $0.6, a 5.30% surprise. For the quarter, EBITDA amounted to $270.6 million. Shareholders own equity worth $268.33 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at McCormick & Company Incorporated (MKC) price momentum. RSI 9-day as of the close on 24 August was 26.26%, suggesting the stock is oversold, with historical volatility in this time frame at 10.62%.
As of today, MKC’s price is $82.08 -3.78% or -$3.21 from its 5-day moving average. MKC is currently trading -8.98% lower than its 20-day SMA and -3.04% lower than its 100-day SMA. However, the stock’s current price level is -10.13% below the SMA50 and +2.28% above the SMA200.
The stochastic %K and %D were 7.27% and 4.81%, respectively, and the average true range (ATR) was 1.26. With the 14-day stochastic at 16.17% and the average true range at 1.28, the RSI (14) stands at 30.33%. The stock has reached -2.11 on the 9-day MACD Oscillator while the 14-day reading was at -3.13.
Analyst Ratings
BofA Securities upgraded McCormick & Company Incorporated (NYSE: MKC) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as an Underperform. The consensus rating for McCormick & Company Incorporated (MKC) among analysts is Hold. According to current brokerage recommendations, 2 brokerage firms advise that investors sell MKC, while 7 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 3 others rate it as a “buy”.
What is MKC’s price target for the next 12 months?
Analysts predict a range of price targets between $66.00 and $100.00, with a median target of $87.00. Taking a look at these predictions, the average price target given by analysts for McCormick & Company Incorporated (MKC) stock is $87.36.
