McCormick & Company Incorporated (NYSE:MKC) currently has a daily average trading volume of 1.16M but it saw 1856781 shares traded on Wednesday. With a market cap of 20.28B USD, stock’s current market price of $73.31 came falling about -1.50 while comparing to the previous closing price of $74.43. In past 52 weeks, the stock remained buoying in the range of price level as high as $107.35 and as low as $71.19. In the recent trading on the day, stock has struck highest price mark of $73.97 while lowest mark touched by it was $71.76.
Taking a look at 20-day trading activity of McCormick & Company Incorporated (MKC) gives us an average price of $76.66, while its current price level is -31.71% below from 52-week high level whereas it is 2.98% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $83.57 while that of 200 days or SMA-200 reads an average of $91.86. A closer look into the stock’s movement over the week reveals that its volatility is standing at 2.91% during that period while stretching the period over a month that decreases to 2.40%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 33.84 which implies that the stock is in neutral territory.
Argus upgraded its recommendation for the stock as a “Buy” from “Hold” on February 17, 2022 while assigning a price target of $112. Credit Suisse also issued its recommendations for the stock as it downgraded the price target for the stock is $100.
Over the week, MKC’s stock price is moving -2.31% down while it is -10.82% when we observe its performance for the past one month. Year-to-date it is -24.12% down and over the past year, the stock is showing a downside performance of -8.42%.
The latest quarterly earnings report issued by the company was for quarter ended 5/30/2022, when its quarterly earnings per share (EPS) of $0.48 beaten by the consensus estimate of $0.65 for the same. The company is expected to be releasing its next quarterly report in 01/26/2023, for which analysts forecasted an EPS of $0.82 while estimate for next year EPS is $3.04. For MKC, analysts are forecasting an EPS-growth rate of -0.30% for current year and estimate for EPS growth in next year is 7.90%. In next quarter, company is expected to be making quarterly sales of $1.84 billion as analysts are expecting the sales for current fiscal year at $6.56 billion and seeing the company making $6.83 billion in sales next year. Moreover, analysts are in estimates of $1.63 billion for current-quarter revenue.
Currently, McCormick & Company Incorporated’s total number of outstanding shares is 268.30M with 0.21% of that held by the insiders while 86.04% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 8.50% and return on equity (ROE) at 15.20%. It has a price to earnings ratio (P/E ratio) of 28.98 while having a 23.64 of forward P/E ratio. Stock’s beta reads 0.55. Stock has a price to book (P/B) ratio of 4.28 while price to sale or P/S ratio amounts to 3.20. Its return on asset (ROA) is 5.30% on average.
A filing at the U.S. Securities and Exchange Commission revealed that Fundsmith Equity Fund came shrinking its share ownership by 3.54% in the McCormick & Company Incorporated (MKC) increasing its stake to 5.58% with control over 0.48 million shares in the company. As per SEC documents, Fundsmith Equity Fund sought 13,978,622 of company’s common stock of worth $1.18 billion as per recent closing price of the stock. Fundsmith Equity Fund is not the only institutional holder which restructured its stake in McCormick & Company Incorporated, as Vanguard Total Stock Market Index picked 7,425,822 shares of worth $624.29 million to bring its holdings to a total of 14441.0 shares. In the most recent quarter, Vanguard Mid Cap Index Fund came rising its stake by 0.09% in the company and now holds 5.75 million or 2.30% of the company’s stake having worth of about 483.43 million.