McCormick & Co., Inc. [NYSE: MKC] traded at a high on Thursday, posting a 4.29 gain after which it closed the day’ session at $68.60. The company report on January 25, 2024 at 6:30 AM that McCORMICK REPORTS 2023 FINANCIAL RESULTS AND PROVIDES 2024 OUTLOOK.
McCormick & Company, Incorporated (NYSE:MKC), a global leader in flavor, today reported financial results for the fourth quarter and fiscal year ended November 30, 2023 and provided its financial outlook for fiscal year 2024.
For the fourth quarter, sales increased 3% from the year-ago period and, in constant currency, sales increased 2%. Earnings per share was $0.81 compared to $0.69 in 2022 and Adjusted earnings per share was $0.85 compared to $0.73 in 2022..
The results of the trading session contributed to over 4443320 shares changing hands. Over the past one week, the price volatility of McCormick & Co., Inc. stands at 2.58% while the volatility over the past one month is 1.88%.
The market cap for MKC stock reached $18.41 billion, with 268.33 million shares outstanding and 250.81 million shares in the current float. Compared to the average trading volume of 1.75M shares, MKC reached a trading volume of 4443320 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 & 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 $71.93 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 2.93. 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.
Consumer Edge Research have made an estimate for McCormick & Co., Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on January 22, 2024.
The Average True Range (ATR) for McCormick & Co., Inc. is set at 1.45, with the Price to Sales ratio for MKC stock in the period of the last 12 months amounting to 2.76. The Price to Book ratio for the last quarter was 3.65, with the Price to Cash per share for the same quarter was set at 0.62. Price to Free Cash Flow for MKC in the course of the last twelve months was 18.91 with Quick ratio for the last quarter at 0.28.
How has MKC stock performed recently?
McCormick & Co., Inc. [MKC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.67. With this latest performance, MKC shares gained by 1.08% in over the last four-week period, additionally sinking by -23.72% over the last 6 months – not to mention a drop of -12.72% 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 58.69, with the RSI for the last a single of trading hit 63.46, and the three-weeks RSI is set at 55.79 for McCormick & Co., Inc. [MKC]. The present Moving Average for the last 50 days of trading for this stock 66.79, while it was recorded at 66.16 for the last single week of trading, and 77.86 for the last 200 days.
McCormick & Co., Inc. [MKC]: Deeper insight into the fundamentals
McCormick & Co., Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.28 and a Current Ratio set at 0.65.
Earnings analysis for McCormick & Co., Inc. [MKC]
With the latest financial reports released by the company, McCormick & Co., Inc. posted 0.73/share EPS, while the average EPS was predicted by analysts to be reported at 0.86/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -15.10%. 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%.
Insider trade positions for McCormick & Co., Inc. [MKC]
The top three institutional holders of MKC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MKC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MKC stock with ownership which is approximately 5.8325%.
