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McCormick & Co., Inc. [MKC] Director makes an insider sale of 80,000 shares worth 5,900,024.

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Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. McCormick & Co., Inc. shares valued at $5,900,024 were sold by Kurzius Lawrence Erik on May 21 ’24. At $73.75 per share, Kurzius Lawrence Erik sold 80,000 shares. The insider’s holdings dropped to 199,258 shares worth approximately $13.66 million following the completion of this transaction.

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Also, Jenkins Katherine sold 2,732 shares, netting a total of over 207,390 in proceeds. Following the sale of shares at $75.91 each, the insider now holds 0 shares.

Before that, Jenkins Katherine had sold 1,726 shares from its account. In a trade valued at $128,326, the Chief Growth Officer traded McCormick & Co., Inc. shares for $74.35 each. Upon closing the transaction, the insider’s holdings decreased to 1,726 shares, worth approximately $0.0.

As published in a research note from Citigroup on June 12, 2024, McCormick & Co., Inc. [MKC] has been rated up from a Sell to a Neutral and the price target has been revised to $69 from $68. Analysts at Argus upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early April. As of February 01, 2024, Citigroup has initiated its “Sell” rating for MKC. Earlier on January 22, 2024, Consumer Edge Research downgraded its rating. Their new recommendation was “an Equal weight” for MKC stock which previously was a “an Overweight”.

Analyzing MKC Stock Performance

During the last five days, there has been a drop of approximately -0.72%. Over the course of the year, McCormick & Co., Inc. shares have jumped approximately 0.20%. Shares of the company reached a 52-week high of $78.41 on 04/02/24 and a 52-week low of $63.88 on 01/18/24. A 50-day SMA is recorded $72.71, while a 200-day SMA reached $69.64. Nevertheless, trading volume fell to 1.81 million shares from 2.03 million shares the previous day.

Support And Resistance Levels for McCormick & Co., Inc. (MKC)

According to the 24-hour chart, there is a support level at 68.09, which, if violated, would cause prices to drop to 67.63. In the upper region, resistance lies at 69.06. The next price resistance is at 69.57. RSI (Relative Strength Index) is 39.78 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.24, which suggests the price will decrease in the coming days. Percent R is at 73.58%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

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