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Wednesday, February 1, 2023

McCormick & Company Incorporated (NYSE: MKC): Is It A Buying Opportunity Again?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for McCormick & Company Incorporated (MKC) shows that investor sentiment remained same, with the stock’s consolidated last price remained same to $81.10. The McCormick & Company Incorporated has recorded 104,687 volume in the after hours trading session. The stock was recently discussed on Yahoo Finance as it revealed that McCormick & Company Named One of America’s Most JUST Companies by JUST Capital.

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Stocks Info

MKC belongs to the Consumer Defensive sector of the NYSE while operating in the Packaged Foods industry. At the end of the last regular session, the stock closed at $81.10 and fluctuated between $82.20 as its day high and $80.83 as its day low. The current market capitalization of McCormick & Company Incorporated is $21.71B. A total of 1.19 million shares were traded on the day, compared to an average of 1.15M shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, MKC has seen 0 BUY and 0 SELL insider trades, representing the acquisition of 0 and the disposition of 0 shares. Over the last 12 months, there were 10 BUYs and 7 SELLs from insiders. Insiders purchased 97,319 shares during that period but sold 65,502.

In the most recent transaction, MANGAN MICHAEL D sold 5,000 shares of MKC for 82.00 per share on Nov 10. After the transaction, the Director now owns 38,137 company shares. In a previous transaction on Oct 24, Kurzius Lawrence Erik sold 5,000 shares at 74.41 per share. MKC shares that Chairman, President & CEO owns now total 0.

Among the insiders who sold shares, Foley Brendan M disposed of 3,200 shares on Oct 19 at a per-share price of $75.47. This resulted in the President & COO holding 702 shares of MKC after the transaction. In another insider transaction, Foley Brendan M sold 2,152 shares at $74.62 per share on Oct 18. Company shares held by the President & COO now total 702.

Dividend

Paying dividends generates immediate cash flow for investors and indicates a positive outlook for the company. McCormick & Company Incorporated pays an annual dividend of $1.56, resulting in a dividend yield of 1.92%, and it has a price to earnings (P/E) ratio of 31.58. MKC’s most recent ex-dividend date was 12/29/2022 when it declared a $0.39 quarterly dividend that was paid in cash on 1/9/2023. Previously, the company paid the dividend on 10/25/2022 with an ex-dividend date of 10/7/2022. The MKC stock dividend was $0.37 per share in cash.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for MKC in the last 3 months, the mean price target is $79.92 with high estimates of $95.00 and low estimates of $65.00. In terms of 52-week highs and lows, MKC has a high of $107.35 and a low of $71.19.

As of this writing, MKC has an earnings estimate of $0.86 per share for the current quarter. EPS was calculated based on a consensus of 8 estimates, with a high estimate of $0.9 per share and a lower estimate of $0.83. The company reported an EPS of $0.48 in the last quarter, which was -26.20% lower than expectations of $0.65.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 16 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for MKC is Underweight with a score of 2.89. A total of 3 analysts rated the stock as Buy while 0 rated it as Overweight while 9 rated it as Hold. Among the other participants, 2 thought the stock was Underweight and 2 thought it should be Sold.

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