McCormick & Co., Inc. (MKC) Is Now En Route to Higher Prices

McCormick & Co., Inc. (NYSE: MKC) is -3.43% lower on its value in year-to-date trading and has touched a low of $59.13 and a high of $94.39 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 $64.65 in the last trading session, with the day’s gains setting it 1.42%.

Currently trading at $66.07, the stock is -0.85% and -1.58% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.83 million and changing 2.20% at the moment leaves the stock -14.03% off its SMA200. MKC registered -10.01% loss for a year compared to 6-month loss of -23.56%. The firm has a 50-day simple moving average (SMA 50) of $3.32 and a 200-day simple moving average (SMA200) of $18.36.

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The stock witnessed a 0.53% gain in the last 1 month and extending the period to 3 months gives it a 2.35%, and is 0.33% 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 2.48% over the week and 2.25% over the month.

McCormick & Co., Inc. (MKC) has around Dec 28 2023 employees, a market worth around $17.72B and $6.66B in sales. Current P/E ratio is 26.19 and Fwd P/E is 21.79. Profit margin for the company is 10.22%. Distance from 52-week low is 11.74% and -30.00% from its 52-week high. The company has generated returns on investments over the last 12 months (7.93%).

McCormick & Co., Inc. quarterly earnings per share for the current quarter are estimated at $0.58 with sales reaching $1.55B over the same period.The EPS is expected to grow by 4.81% this year, but quarterly earnings will post -0.60% year-over-year.

McCormick & Co., Inc. (MKC) Top Institutional Holders

1,270 institutions hold shares in McCormick & Co., Inc. (MKC), with institutional investors hold 88.35% of the company’s shares. The shares outstanding are 251.30M, and float is at 250.95M with Short Float at 2.00%. Institutions hold 88.07% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 30.23 million shares valued at $2.64 billion. The investor’s holdings represent 12.03% of the MKC Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 18.61 million shares valued at $1.62 billion to account for 7.41% of the shares outstanding. The other top investors are State Farm Mutual Automobile Insurance Co which holds 16.72 million shares representing 6.65% and valued at over $1.46 billion, while Fundsmith LLP holds 6.16% of the shares totaling 15.47 million with a market value of $1.35 billion.

McCormick & Co., Inc. (MKC) Insider Activity

A total of 0 insider transactions have happened at McCormick & Co., Inc. (MKC) in the last six months, with sales accounting for 0 and purchases happening 0 times. The most recent transaction is an insider sale by Schwartz Jeffery D,the company’sVice President, Gen Counsel. SEC filings show that Schwartz Jeffery D sold 2,000 shares of the company’s common stock on Oct 25 at a price of $64.37 per share for a total of $0.13 million. Following the sale, the insider now owns 55174.0 shares.

McCormick & Co., Inc. disclosed in a document filed with the SEC on Aug 21 that MANGAN MICHAEL D (Director) sold a total of 5,000 shares of the company’s common stock. The trade occurred on Aug 21 and was made at $83.63 per share for $0.42 million. Following the transaction, the insider now directly holds 39181.0 shares of the MKC stock.

Still, SEC filings show that on Jul 28, Schwartz Jeffery D (Vice President, Gen Counsel) disposed off 2,600 shares at an average price of $90.02 for $0.23 million. The insider now directly holds 60,774 shares of McCormick & Co., Inc. (MKC).

McCormick & Co., Inc. (MKC): Who are the competitors?

The company’s main competitors (and peers) include Nestle S.A. (NESN) that is trading -12.76% down over the past 12 months. Kraft Heinz Co. (KHC) that is -9.84% lower over the same period.