Wednesday, July 15, 2020

Jefferies slashes price target on McCormick & Company Incorporated [MKC] – find out why.

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McCormick & Company Incorporated [NYSE: MKC] jumped around 6.27 points on Thursday, while shares priced at $178.54 at the close of the session, up 3.64%. McCormick & Company Incorporated stock is now 5.19% up from its year-to-date (YTD) trading value. MKC Stock saw the intraday high of $180.933 and lowest of $173.564 per share. The company’s 52-week high price is 180.38, which means current price is +59.09% above from all time high which was touched on 06/25/20.

Compared to the average trading volume of 794.45K shares, MKC reached a trading volume of 1450242 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about McCormick & Company Incorporated [MKC]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MKC shares is $145.30 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MKC stock is a recommendation set at 3.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for McCormick & Company Incorporated shares, keeping their opinion on the stock as Hold, with their previous recommendation back on June 22, 2020. While these analysts kept the previous recommendation, Credit Suisse raised their target price from $147 to $187. The new note on the price target was released on May 14, 2020, representing the official price target for McCormick & Company Incorporated stock. Previously, the target price had yet another drop from $175 to $140, while BofA/Merrill kept a Underperform rating on MKC stock.

The Average True Range (ATR) for McCormick & Company Incorporated is set at 3.96, with the Price to Sales ratio for MKC stock in the period of the last 12 months amounting to 4.50. The Price to Book ratio for the last quarter was 6.67, with the Price to Cash per share for the same quarter was set at 1.27. Price to Free Cash Flow for MKC in the course of the last twelve months was 61.13 with Quick ratio for the last quarter at 0.30.

How has MKC stock performed recently?

McCormick & Company Incorporated [MKC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.68. With this latest performance, MKC shares gained by 3.80% in over the last four-week period, additionally plugging by 6.12% over the last 6 months – not to mention a rise of 18.53% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MKC stock in for the last two-week period is set at 65.94, with the RSI for the last a single of trading hit 69.32, and the three-weeks RSI is set at 62.02 for McCormick & Company Incorporated [MKC]. The present Moving Average for the last 50 days of trading for this stock 167.04, while it was recorded at 173.62 for the last single week of trading, and 161.40 for the last 200 days.

McCormick & Company Incorporated [MKC]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and McCormick & Company Incorporated [MKC] shares currently have an operating margin of +18.27 and a Gross Margin at +40.09. McCormick & Company Incorporated’s Net Margin is presently recorded at +13.14.

Return on Total Capital for MKC is now 12.48, given the latest momentum, and Return on Invested Capital for the company is 9.83. Return on Equity for this stock inclined to 21.25, with Return on Assets sitting at 6.82. When it comes to the capital structure of this company, McCormick & Company Incorporated [MKC] has a Total Debt to Total Equity ratio set at 125.55. Additionally, MKC Total Debt to Total Capital is recorded at 55.66, with Total Debt to Total Assets ending up at 41.73. Long-Term Debt to Equity for the company is recorded at 105.27, with the Long-Term Debt to Total Capital now at 46.67.

Reflecting on the efficiency of the workforce at the company, McCormick & Company Incorporated [MKC] managed to generate an average of $56,669 per employee. Receivables Turnover for the company is 10.47 with a Total Asset Turnover recorded at a value of 0.52.McCormick & Company Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.70.

Earnings analysis for McCormick & Company Incorporated [MKC]

With the latest financial reports released by the company, McCormick & Company Incorporated posted 1.16/share EPS, while the average EPS was predicted by analysts to be reported at 1.08/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MKC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for McCormick & Company Incorporated go to 3.80%.

Insider trade positions for McCormick & Company Incorporated [MKC]

There are presently around $17,597 million, or 84.20% of MKC stock, in the hands of institutional investors. The top three institutional holders of MKC stocks are: VANGUARD GROUP INC with ownership of 15,142,288, which is approximately 1.427% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 10,261,454 shares of the stock with an approximate value of $1.77 billion in MKC stocks shares; and STATE FARM MUTUAL AUTOMOBILE INSURANCE CO, currently with $1.51 billion in MKC stock with ownership of nearly 0% of the company’s market capitalization.

Positions in McCormick & Company Incorporated stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 340 institutional holders increased their position in McCormick & Company Incorporated [NYSE:MKC] by around 6,834,882 shares. Additionally, 470 investors decreased positions by around 8,814,856 shares, while 144 investors held positions by with 86,497,132 shares. The mentioned changes placed institutional holdings at 102,146,870 shares, according to the latest SEC report filing. MKC stock had 69 new institutional investments in for a total of 2,652,475 shares, while 124 institutional investors sold positions of 733,087 shares during the same period.

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