A share price of McCormick & Co., Inc. [MKC] is currently trading at $77.30, up 10.52%. An important factor to consider is whether the stock is rising or falling in short-term value. The MKC shares have gain 11.38% over the last week, with a monthly amount glided 13.88%, and seem to be holding up well over a long-time horizon.
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On 26, March 2024, McCORMICK REPORTS STRONG FIRST QUARTER PERFORMANCE AND REAFFIRMS 2024 OUTLOOK. In a post published today on Yahoo Finance, McCormick & Company, Incorporated (NYSE:MKC), a global leader in flavor, today reported financial results for the first quarter ended February 29, 2024 and reaffirmed fiscal 2024 outlook.
From an analyst’s perspective:
McCormick & Co., Inc. [NYSE: MKC] stock has seen the most recent analyst activity on February 01, 2024, when Citigroup initiated its Sell rating and assigned the stock a price target of $60. Previously, Consumer Edge Research downgraded its rating to Equal Weight on January 22, 2024. On September 22, 2023, HSBC Securities initiated with a Hold rating and assigned a price target of $86 on the stock. TD Cowen started tracking the stock assigning a Market Perform rating and suggested a price target of $87 on September 13, 2023. BofA Securities upgraded its rating to a Buy and raised its price target to $100 on June 06, 2023. In a note dated March 10, 2023, UBS initiated an Sell rating and provided a target price of $71 on this stock.
McCormick & Co., Inc. experienced fluctuations in its stock price throughout the past year between $59.13 and $94.39. Currently, Wall Street analysts expect the stock to reach $83.33 within the next 12 months. McCormick & Co., Inc. [NYSE: MKC] shares were valued at $77.30 at the most recent close of the market. An investor can expect a potential return of 7.8% based on the average MKC price forecast.
Analyzing the MKC fundamentals
Trailing Twelve Months sales for McCormick & Co., Inc. [NYSE:MKC] were 6.70B which represents 2.38% growth. Gross Profit Margin for this corporation currently stands at 0.38% with Operating Profit Margin at 0.15%, Pretax Profit Margin comes in at 0.12%, and Net Profit Margin reading is 0.1%. To continue investigating profitability, this company’s Return on Assets is posted at 0.05, Equity is 0.14 and Total Capital is 0.1. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.7.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 74.78 points at the first support level, and at 72.27 for the second support level. However, for the 1st resistance point, the stock is sitting at 78.78, and for the 2nd resistance point, it is at 80.27.
McCormick & Co., Inc. [MKC] reported earnings per share of $0.85 for its fiscal quarter that ended on 11/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.79/share, meaning a difference of $0.06 and a surprise factor of 7.60%. By comparison, the stated earnings for the previous quarter ended on 8/30/2023 were $0.65 per share as compared to estimates of $0.65 per share, a difference of $0 representing a surprise of 0.00%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for McCormick & Co., Inc. [NYSE:MKC] is 0.68. On the other hand, the Quick Ratio is 0.30, and the Cash Ratio is 0.06. Considering the valuation of this stock, the price to sales ratio is 3.10, the price to book ratio is 4.10 and price to earnings (TTM) ratio is 29.47.
Transactions by insiders
Recent insider trading involved MANGAN MICHAEL D, Director, that happened on Feb 15 ’24 when 5000.0 shares were sold. Vice President, Gen Counsel, Schwartz Jeffery D completed a deal on Oct 25 ’23 to sell 2000.0 shares. Meanwhile, Director MANGAN MICHAEL D sold 5000.0 shares on Aug 21 ’23.
