1,225 institutions hold shares in McCormick & Company Incorporated (MKC), with 597.95k shares held by insiders accounting for 0.22% while institutional investors hold 83.40% of the company’s shares. The shares outstanding are 267.40M, and float is at 261.79M with Short Float at 2.14%. Institutions hold 83.22% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 28.2 million shares valued at $2.7 billion. The investor’s holdings represent 11.33% of the MKC Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 20.83 million shares valued at $1.99 billion to account for 8.37% of the shares outstanding. The other top investors are State Farm Mutual Automobile Insurance Co which holds 17.57 million shares representing 7.06% and valued at over $1.68 billion, while Fundsmith LLP holds 6.48% of the shares totaling 16.13 million with a market value of $1.54 billion.
McCormick & Company Incorporated (NYSE: MKC) is -5.64% lower on its value in year-to-date trading and has touched a low of $61.97 and a high of $105.54 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MKC stock was last observed hovering at around $88.70 in the last trading session, with the day’s gains setting it 1.51% off its average median price target of $93.50 for the next 12 months. It is also 11.99% off the consensus price target high of $102.50 offered by 12 analysts, but current levels are -23.58% lower than the price target low of $73.00 for the same period.
Currently trading at $90.21, the stock is 5.04% and 2.31% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.4 million and changing 1.70% at the moment leaves the stock -3.37% off its SMA200. MKC registered 37.06% gain for a year compared to 6-month loss of -4.46%. The firm has a 50-day simple moving average (SMA 50) of $86.50 and a 200-day simple moving average (SMA200) of $92.34.
The stock witnessed a 6.87% gain in the last 1 month and extending the period to 3 months gives it a -2.98%, and is 4.24% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.01% over the week and 1.89% over the month.
McCormick & Company Incorporated (MKC) has around 13000 employees, a market worth around $23.67B and $5.60B in sales. Current P/E ratio is 32.47 and Fwd P/E is 28.84. Profit margin for the company is 13.30%. Distance from 52-week low is 45.56% and -14.52% from its 52-week high. The company has generated returns on investments over the last 12 months (9.30%).
McCormick & Company Incorporated (MKC) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for McCormick & Company Incorporated (MKC) is a “Hold”. 12 analysts offering their recommendations for the stock have an average rating of 3.10, where 6 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 3 analysts have rated the stock as a Sell or Underperform.
McCormick & Company Incorporated is expected to release its quarterly report on 07/01/2021 and quarterly earnings per share for the current quarter are estimated at $0.58 with sales reaching $1.38B over the same period.The EPS is expected to grow by 6.20% this year, but quarterly earnings will post 8.10% year-over-year. Quarterly sales are estimated to grow 13.60% in year-over-year returns.
McCormick & Company Incorporated (MKC) Insider Activity
A total of 9 insider transactions have happened at McCormick & Company Incorporated (MKC) in the last six months, with sales accounting for 4 and purchases happening 5 times. The most recent transaction is an insider sale by MANGAN MICHAEL D, the company’s Director. SEC filings show that MANGAN MICHAEL D sold 5,000 shares of the company’s common stock on Nov 13 at a price of $183.30 per share for a total of $0.92 million. Following the sale, the insider now owns 17765.0 shares.
McCormick & Company Incorporated disclosed in a document filed with the SEC on Aug 13 that Tapiero Jacques (Director) sold a total of 5,000 shares of the company’s common stock. The trade occurred on Aug 13 and was made at $199.49 per share for $1.0 million. Following the transaction, the insider now directly holds 9433.0 shares of the MKC stock.
Still, SEC filings show that on Aug 12, Conway Michael Aaron (Director) disposed off 8,408 shares at an average price of $202.50 for $1.7 million. The insider now directly holds 5,190 shares of McCormick & Company Incorporated (MKC).
McCormick & Company Incorporated (MKC): Who are the competitors?
The company’s main competitors (and peers) include Conagra Brands Inc. (CAG) that is trading 38.24% up over the past 12 months and Tyson Foods Inc. (TSN) that is 24.09% higher over the same period. The Hain Celestial Group Inc. (HAIN) is 76.38% up on the 1-year trading charts. Short interest in the company’s stock has risen 1.96% from the last report on Feb 11, 2021 to stand at a total of 5.5 million short shares sold with a short interest ratio of 3.85.