Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. McCormick & Company Incorporated shares valued at $893,375 were sold by PRESTON MARGARET M V on Jun 29. At $84.44 per share, PRESTON MARGARET M V sold 10,580 shares. The insider’s holdings dropped to 12,660 shares worth approximately $0.97 million following the completion of this transaction.
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Also, Smith Michael R sold 19,986 shares, netting a total of over 2,079,357 in proceeds. Following the sale of shares at $104.04 each, the insider now holds 93,025 shares.
Before that, LITTLE PATRICIA A had sold 10,000 shares from its account. In a trade valued at $1,006,256, the Director traded McCormick & Company Incorporated shares for $100.63 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $1.63 million.
As published in a research note from Argus on July 06, 2022, McCormick & Company Incorporated [MKC] has been rated down from a Buy to a Hold. Analysts at Argus upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid February. As of January 19, 2022, Credit Suisse has decreased its “an Outperform” rating to a “Neutral” for MKC. Earlier on March 17, 2021, Argus downgraded its rating. Their new recommendation was “a Hold” for MKC stock which previously was a “a Buy”.
Analyzing MKC’s Price Performance
On Thursday, McCormick & Company Incorporated [NYSE: MKC] plunged -0.82% to $76.67. The stock’s lowest price that day was $76.62, but it reached a high of $77.53 in the same session. During the last five days, there has been a drop of approximately -2.34%. Over the course of the year, McCormick & Company Incorporated shares have dropped approximately -20.64%. Shares of the company reached a 52-week high of $107.35 on 03/07/22 and a 52-week low of $76.62 on 09/22/22. A 50-day SMA is recorded $85.17, while a 200-day SMA reached $92.64. Nevertheless, trading volume fell to 1.01 million shares from 1.26 million shares the previous day.
Support And Resistance Levels for McCormick & Company Incorporated (MKC)
According to the 24-hour chart, there is a support level at 76.35, which, if violated, would cause prices to drop to 76.03. In the upper region, resistance lies at 77.26. The next price resistance is at 77.85. RSI (Relative Strength Index) is 29.30 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.72, which suggests the price will decrease in the coming days. Percent R is at 99.44%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is McCormick & Company Incorporated subject to short interest?
Stocks of McCormick & Company Incorporated saw a sharp rise in short interest on Jul 14, 2022 jumping by 60000.0 shares to 7.46 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.4 million shares. A jump of 0.8% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.53 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.53.
Which companies own the most shares of McCormick & Company Incorporated (MKC)?
According to The Vanguard Group, Inc. filings, the company currently owns 28,485,748 shares, which is about 11.37% of the total MKC shares outstanding. The investor’s shares have appreciated by 506,494 from its previous 13-F filing of 27979254.0 shares. With the completion of the buy transaction, Fundsmith LLP’s stake is now worth $1,641,698,867. A total of -300,404 shares of McCormick & Company Incorporated were bought by SSgA Funds Management, Inc. during the quarter, and 187,485 were bought by Geode Capital Management LLC. In its current portfolio, Franklin Advisers, Inc. holds 4,833,571 shares valued at $406.36 million.
In terms of McCormick & Company Incorporated share price expectations, FactSet research, analysts set an average price target of $83.00 in the next 12 months, up nearly 6.08% from the previous closing price of $77.30. Analysts anticipate McCormick & Company Incorporated stock to reach $98.00 by 2022, with the lowest price target being $69.00. In spite of this, 14 analysts ranked McCormick & Company Incorporated stock as a Hold at the end of 2022. On September 24, 2020, Argus assigned a price target of “a Buy” to the stock and initiated coverage with a $215.