McCormick & Co., Inc. (NYSE: MKC)’s stock price has decreased by -1.32 compared to its previous closing price of 69.48. However, the company has seen a -0.92% decrease in its stock price over the last five trading sessions. prnewswire.com reported 2024-06-05 that HUNT VALLEY, Md., June 5, 2024 /PRNewswire/ — McCormick & Company, Incorporated (NYSE: MKC), a global leader in flavor, today released its 2023 Purpose-led Performance (PLP) Progress Report, which provides an update on the Company’s progress towards its sustainability commitments, goals, and the initiatives that support them.
Is It Worth Investing in McCormick & Co., Inc. (NYSE: MKC) Right Now?
McCormick & Co., Inc. (NYSE: MKC) has a higher price-to-earnings ratio of 26.14x compared to its average ratio. MKC has 36-month beta value of 0.74. Analysts have mixed views on the stock, with 2 analysts rating it as a “buy,” 1 as “overweight,” 10 as “hold,” and 1 as “sell.”
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The public float for MKC is 251.26M, and currently, short sellers hold a 2.34% ratio of that float. The average trading volume of MKC on June 18, 2024 was 1.88M shares.
MKC’s Market Performance
MKC stock saw a decrease of -0.92% in the past week, with a monthly decline of -7.36% and a quarterly a decrease of -1.21%. The volatility ratio for the week is 2.21%, and the volatility levels for the last 30 days are 1.92% for McCormick & Co., Inc. (MKC). The simple moving average for the last 20 days is -2.69% for MKC stock, with a simple moving average of -1.72% for the last 200 days.
Analysts’ Opinion of MKC
Many brokerage firms have already submitted their reports for MKC stocks, with Citigroup repeating the rating for MKC by listing it as a “Neutral.” The predicted price for MKC in the upcoming period, according to Citigroup is $69 based on the research report published on June 12, 2024 of the current year 2024.
Citigroup gave a rating of “Sell” to MKC, setting the target price at $60 in the report published on February 01st of the current year.
MKC Trading at -6.07% from the 50-Day Moving Average
After a stumble in the market that brought MKC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -27.36% of loss for the given period.
Volatility was left at 1.92%, however, over the last 30 days, the volatility rate increased by 2.21%, as shares sank -7.61% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -9.27% lower at present.
During the last 5 trading sessions, MKC fell by -0.84%, which changed the moving average for the period of 200-days by -16.40% in comparison to the 20-day moving average, which settled at $70.17. In addition, McCormick & Co., Inc. saw 0.21% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MKC starting from Kurzius Lawrence Erik, who sale 80,000 shares at the price of $73.75 back on May 21 ’24. After this action, Kurzius Lawrence Erik now owns 199,258 shares of McCormick & Co., Inc., valued at $5,900,024 using the latest closing price.
Jenkins Katherine, the Chief Growth Officer of McCormick & Co., Inc., sale 2,732 shares at $75.91 during a trade that took place back on May 14 ’24, which means that Jenkins Katherine is holding 0 shares at $207,390 based on the most recent closing price.
Stock Fundamentals for MKC
Current profitability levels for the company are sitting at:
- 0.15 for the present operating margin
- 0.38 for the gross margin
The net margin for McCormick & Co., Inc. stands at 0.11. The total capital return value is set at 0.1. Equity return is now at value 14.01, with 5.42 for asset returns.
Based on McCormick & Co., Inc. (MKC), the company’s capital structure generated 0.46 points at debt to capital in total, while cash flow to debt ratio is standing at 0.29. The debt to equity ratio resting at 0.85. The interest coverage ratio of the stock is 4.81.
Currently, EBITDA for the company is 1.27 billion with net debt to EBITDA at 3.38. When we switch over and look at the enterprise to sales, we see a ratio of 3.38. The receivables turnover for the company is 11.81for trailing twelve months and the total asset turnover is 0.52. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.68.
Conclusion
To put it simply, McCormick & Co., Inc. (MKC) has had a bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
