McCormick & Company Incorporated (NYSE:MKC) currently has a daily average trading volume of 1.49M but it saw 1032841 shares traded on Wednesday. With a market cap of 23.42B USD, stock’s current market price of $87.69 came rising about 0.46 while comparing to the previous closing price of $87.29. In past 52 weeks, the stock remained buoying in the range of price level as high as $94.52 and as low as $70.60. In the recent trading on the day, stock has struck highest price mark of $88.30 while lowest mark touched by it was $86.60.
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Taking a look at 20-day trading activity of McCormick & Company Incorporated (MKC) gives us an average price of $88.61, while its current price level is -7.22% below from 52-week high level whereas it is 24.21% 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 $84.12 while that of 200 days or SMA-200 reads an average of $80.99. A closer look into the stock’s movement over the week reveals that its volatility is standing at 1.44% during that period while stretching the period over a month that increases to 1.46%. 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 52.64 which implies that the stock is in neutral territory.
McCormick & Company Incorporated (MKC)’s stock is currently under the radar of 14 analysts who are in consensus at a 12-month price target range of between $64.00 and $97.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $64.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $97.00. Average price target assigned by them is $78.27 which highlights a downside potential of -12.04% for the stock over that period. And to attain the median price target of $75.00 assigned by those analysts, stock has to subtract about -16.92% of value to its current levels.
Data by FactSet Research shows that 14 analysts have issued their ratings for the stock. 4 of them are in opinions that stock is a Sell, while 1 are advising it as an Overweight. 2 analysts suggested the investors to Buy the stock while 5 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Hold for the stock and that issued by Wall Street to investors is Hold.
Over the week, MKC’s stock price is moving -1.23% down while it is 2.16% when we observe its performance for the past one month. Year-to-date it is 5.79% up and over the past year, the stock is showing a downside performance of -4.29%.
The latest quarterly earnings report issued by the company was for quarter ended 2/27/2023, when its quarterly earnings per share (EPS) of $0.59 beat the consensus estimate of $0.51 for the same. The company is expected to be releasing its next quarterly report in 06/29/2023, for which analysts forecasted an EPS of $0.56 while estimate for next year EPS is $2.63. For MKC, analysts are forecasting an EPS-growth rate of 4.00% for current year and estimate for EPS growth in next year is 9.90%. In next quarter, company is expected to be making quarterly sales of $1.7 billion as analysts are expecting the sales for current fiscal year at $6.77 billion and seeing the company making $6.99 billion in sales next year. Moreover, analysts are in estimates of $1.66 billion for current-quarter revenue.
Currently, McCormick & Company Incorporated’s total number of outstanding shares is 268.20M with 0.50% of that held by the insiders while 87.25% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 7.60% and return on equity (ROE) at 14.20%. It has a price to earnings ratio (P/E ratio) of 35.55 while having a 30.34 of forward P/E ratio. Stock’s beta reads 0.57. Stock has a price to book (P/B) ratio of 4.83 while price to sale or P/S ratio amounts to 3.66. Its return on asset (ROA) is 5.10% on average.
As per SEC documents, Fundsmith Equity Fund sought 13,978,622 of company’s common stock of worth $1.23 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 ETF picked 7,787,164 shares of worth $684.1 million to bring its holdings to a total of 26356.0 shares. In the most recent quarter, Vanguard 500 Index Fund came rising its stake by 0.54% in the company and now holds 5.89 million or 2.35% of the company’s stake having worth of about 517.02 million.
