The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. McCormick & Co., Inc shares valued at $386,702 were sold by Tapiero Jacques on Nov 11 ’24. At $77.34 per share, Tapiero Jacques sold 5,000 shares. The insider’s holdings dropped to 28,217 shares worth approximately $2.14 million following the completion of this transaction.
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Also, MANGAN MICHAEL D sold 5,000 shares, netting a total of over 395,000 in proceeds. Following the sale of shares at $79.00 each, the insider now holds 40,436 shares.
Before that, Tapiero Jacques had sold 5,000 shares from its account. In a trade valued at $391,672, the Director traded McCormick & Co., Inc shares for $78.33 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $2.14 million.
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 -1.07%. Over the course of the year, McCormick & Co., Inc shares have jumped approximately 10.84%. Shares of the company reached a 52-week high of $85.49 on 09/16/24 and a 52-week low of $63.88 on 01/18/24. A 50-day SMA is recorded $80.64, while a 200-day SMA reached $74.55. Nevertheless, trading volume fell to 1.45 million shares from 1.41 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 75.37, which, if violated, would cause prices to drop to 74.91. In the upper region, resistance lies at 76.49. The next price resistance is at 77.14. RSI (Relative Strength Index) is 35.85 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.05, which suggests the price will decrease in the coming days. Percent R is at 92.29%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
