For McCormick & Co., Inc. [MKC], Analyst sees a rise to $86. What next?

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McCormick & Co., Inc. [NYSE: MKC] surged by $0.12 during the normal trading session on Tuesday and reaching a high of $64.49 during the day while it closed the day at $63.90. The company report on October 3, 2023 at 6:30 AM that McCORMICK REPORTS STRONG THIRD QUARTER PERFORMANCE.

McCormick & Company, Incorporated (NYSE:MKC), a global leader in flavor, today reported financial results for the third quarter ended August 31, 2023 and reaffirmed fiscal 2023 sales and operating profit outlook.

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Sales increased 6% in the third quarter from the year-ago period. In constant currency, sales also grew 6%. Both comparisons include a 1% unfavorable impact attributable to a slower economic recovery in China.

McCormick & Co., Inc. stock has also gained 2.57% of its value over the past 7 days. However, MKC stock has declined by -27.62% in the 3 months of the year. Over the past six months meanwhile, it has lost -27.58% and lost -22.91% year-on date.

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The market cap for MKC stock reached $17.15 billion, with 268.33 million shares outstanding and 250.78 million shares in the current float. Compared to the average trading volume of 1.91M shares, MKC reached a trading volume of 6000202 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about McCormick & Co., Inc. [MKC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MKC shares is $74.79 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 2.88. 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.

HSBC Securities have made an estimate for McCormick & Co., Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 22, 2023.

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The Average True Range (ATR) for McCormick & Co., Inc. is set at 1.78, with the Price to Sales ratio for MKC stock in the period of the last 12 months amounting to 2.60. The Price to Book ratio for the last quarter was 3.40, with the Price to Cash per share for the same quarter was set at 0.58. Price to Free Cash Flow for MKC in the course of the last twelve months was 22.01 with Quick ratio for the last quarter at 0.28.

MKC stock trade performance evaluation

McCormick & Co., Inc. [MKC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.57. With this latest performance, MKC shares dropped by -14.48% in over the last four-week period, additionally sinking by -27.58% over the last 6 months – not to mention a drop of -19.32% 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 41.24, with the RSI for the last a single of trading hit 49.21, and the three-weeks RSI is set at 37.05 for McCormick & Co., Inc. [MKC]. The present Moving Average for the last 50 days of trading for this stock 72.49, while it was recorded at 63.89 for the last single week of trading, and 80.57 for the last 200 days.

McCormick & Co., Inc. [MKC]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and McCormick & Co., Inc. [MKC] shares currently have an operating margin of +14.42 and a Gross Margin at +35.79. McCormick & Co., Inc.’s Net Margin is presently recorded at +10.74.

Return on Total Capital for MKC is now 9.19, given the latest momentum, and Return on Invested Capital for the company is 8.03. Return on Equity for this stock inclined to 15.00, with Return on Assets sitting at 5.24. When it comes to the capital structure of this company, McCormick & Co., Inc. [MKC] has a Total Debt to Total Equity ratio set at 114.95. Additionally, MKC Total Debt to Total Capital is recorded at 53.48, with Total Debt to Total Assets ending up at 40.99. Long-Term Debt to Equity for the company is recorded at 81.58, with the Long-Term Debt to Total Capital now at 37.95.

Reflecting on the efficiency of the workforce at the company, McCormick & Co., Inc. [MKC] managed to generate an average of $48,028 per employee. Receivables Turnover for the company is 11.31 with a Total Asset Turnover recorded at a value of 0.49.McCormick & Co., Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.28 and a Current Ratio set at 0.67.

Earnings per share (EPS) analysis for McCormick & Co., Inc. [MKC] stock

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 & Co., Inc. go to 8.10%.

McCormick & Co., Inc. [MKC]: Institutional Ownership

The top three institutional holders of MKC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in MKC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in MKC stock with ownership which is approximately 5.7994%.

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